Formula One Group (NASDAQ:FWONA - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Benchmark in a note issued to investors on Thursday,Benzinga reports. They presently have a $81.00 price objective on the stock. Benchmark's price objective indicates a potential upside of 4.87% from the stock's current price.
Formula One Group Stock Down 1.5 %
Shares of NASDAQ:FWONA traded down $1.19 during midday trading on Thursday, reaching $77.24. 178,427 shares of the company traded hands, compared to its average volume of 101,114. Formula One Group has a 12 month low of $55.25 and a 12 month high of $79.67. The firm's fifty day moving average price is $72.50 and its two-hundred day moving average price is $69.27. The firm has a market capitalization of $18.15 billion, a price-to-earnings ratio of 68.23 and a beta of 0.05.
Insider Activity
In related news, Director Andrea L. Wong sold 1,604 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the transaction, the director now owns 5,274 shares of the company's stock, valued at $250,040.34. This represents a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Renee L. Wilm sold 19,202 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $78.78, for a total value of $1,512,733.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,817 shares of company stock worth $2,327,591. 4.83% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Formula One Group stock. Lountzis Asset Management LLC purchased a new position in Formula One Group (NASDAQ:FWONA - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,079 shares of the company's stock, valued at approximately $220,000. Institutional investors own 8.38% of the company's stock.
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.
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