Brian J. Wendling Sells 1,094 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONK - Get Free Report) CAO Brian J. Wendling sold 1,094 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $69.57, for a total value of $76,109.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Brian J. Wendling also recently made the following trade(s):

• On Friday, September 20th, Brian J. Wendling sold 10,011 shares of Formula One Group stock. The shares were sold at an average price of $73.80, for a total value of $738,811.80.

Formula One Group Stock Performance

FWONK stock traded down $0.96 during trading on Friday, reaching $84.17. 1,005,929 shares of the company traded hands, compared to its average volume of 1,161,245. Formula One Group has a 12 month low of $61.23 and a 12 month high of $86.65. The business has a 50 day simple moving average of $79.37 and a 200 day simple moving average of $76.39. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 74.03 and a beta of 0.01.

Formula One Group (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.18. The company had revenue of $848.00 million for the quarter, compared to the consensus estimate of $837.59 million. As a group, research analysts forecast that Formula One Group will post 1.24 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Rosenblatt Securities increased their target price on Formula One Group from $91.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Morgan Stanley raised their price target on Formula One Group from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, September 23rd. StockNews.com downgraded Formula One Group from a "hold" rating to a "sell" rating in a research report on Monday. Finally, UBS Group began coverage on Formula One Group in a research report on Thursday, October 17th. They issued a "neutral" rating and a $85.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $88.25.

Institutional Investors Weigh In On Formula One Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Greenwood Gearhart Inc. raised its position in Formula One Group by 8.1% during the third quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock valued at $13,640,000 after acquiring an additional 13,146 shares in the last quarter. MetLife Investment Management LLC raised its position in Formula One Group by 3.0% during the third quarter. MetLife Investment Management LLC now owns 6,946 shares of the company's stock valued at $538,000 after acquiring an additional 203 shares in the last quarter. Lountzis Asset Management LLC raised its position in Formula One Group by 17.0% during the third quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company's stock valued at $461,000 after acquiring an additional 864 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Formula One Group by 16.9% during the third quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company's stock valued at $2,117,000 after acquiring an additional 3,958 shares in the last quarter. Finally, Hahn Capital Management LLC raised its position in Formula One Group by 33.5% during the second quarter. Hahn Capital Management LLC now owns 68,616 shares of the company's stock valued at $4,929,000 after acquiring an additional 17,219 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

About Formula One Group

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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