Brian J. Wendling Sells 145 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONKGet Free Report) CAO Brian J. Wendling sold 145 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $70.20, for a total transaction of $10,179.00. Following the transaction, the chief accounting officer now owns 6,898 shares in the company, valued at $484,239.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Formula One Group Price Performance

FWONK stock opened at $71.89 on Friday. The company’s 50 day simple moving average is $70.15 and its 200-day simple moving average is $67.46. The firm has a market capitalization of $16.90 billion and a PE ratio of 52.47. Formula One Group has a 12 month low of $60.95 and a 12 month high of $78.58.

Formula One Group (NASDAQ:FWONKGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.11 by $0.21. The business had revenue of $550.00 million during the quarter, compared to analyst estimates of $591.77 million. As a group, sell-side analysts anticipate that Formula One Group will post 1.2 earnings per share for the current year.

Analyst Ratings Changes

FWONK has been the topic of several recent analyst reports. Evercore ISI upped their target price on shares of Formula One Group from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday. StockNews.com lowered shares of Formula One Group from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $84.00.

Read Our Latest Analysis on FWONK

Institutional Trading of Formula One Group

Large investors have recently modified their holdings of the business. Greenwood Gearhart Inc. grew its position in shares of Formula One Group by 6.1% in the third quarter. Greenwood Gearhart Inc. now owns 174,111 shares of the company’s stock valued at $10,848,000 after purchasing an additional 9,992 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Formula One Group during the fourth quarter valued at approximately $1,167,000. Russell Investments Group Ltd. lifted its stake in shares of Formula One Group by 156.3% during the fourth quarter. Russell Investments Group Ltd. now owns 71,618 shares of the company’s stock valued at $4,522,000 after buying an additional 43,675 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC lifted its stake in shares of Formula One Group by 7.0% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 107,922 shares of the company’s stock valued at $6,813,000 after buying an additional 7,037 shares during the period. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Formula One Group Company Profile

(Get Free Report)

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.

Further Reading

Insider Buying and Selling by Quarter for Formula One Group (NASDAQ:FWONK)

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