Hahn Capital Management LLC Has $3.52 Million Holdings in Formula One Group (NASDAQ:FWONK)

Hahn Capital Management LLC decreased its holdings in shares of Formula One Group (NASDAQ:FWONK - Free Report) by 33.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,498 shares of the company's stock after selling 23,118 shares during the quarter. Formula One Group comprises about 2.3% of Hahn Capital Management LLC's portfolio, making the stock its 24th biggest holding. Hahn Capital Management LLC's holdings in Formula One Group were worth $3,523,000 at the end of the most recent quarter.

Separately, Beach Investment Counsel Inc. PA acquired a new stake in Formula One Group in the second quarter valued at approximately $48,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Renee L. Wilm sold 19,202 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $78.78, for a total transaction of $1,512,733.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Andrea L. Wong sold 1,604 shares of the company's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total value of $76,045.64. Following the transaction, the director now directly owns 5,274 shares of the company's stock, valued at approximately $250,040.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Insiders have sold a total of 30,817 shares of company stock valued at $2,327,591 over the last three months. Company insiders own 4.31% of the company's stock.

Formula One Group Stock Down 0.3 %

FWONK stock traded down $0.25 during midday trading on Friday, reaching $79.15. The company had a trading volume of 443,420 shares, compared to its average volume of 1,161,208. The stock has a 50 day moving average price of $77.58 and a 200 day moving average price of $74.61. Formula One Group has a fifty-two week low of $61.23 and a fifty-two week high of $82.23. The firm has a market capitalization of $16.61 billion, a PE ratio of 74.67 and a beta of 0.04.

Formula One Group (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.22). The firm had revenue of $853.00 million during the quarter, compared to the consensus estimate of $960.45 million. Research analysts predict that Formula One Group will post 1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group initiated coverage on Formula One Group in a report on Thursday, October 17th. They issued a "neutral" rating and a $85.00 target price on the stock. StockNews.com raised shares of Formula One Group to a "sell" rating in a research report on Saturday, October 12th. Finally, Morgan Stanley upped their price objective on Formula One Group from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, September 23rd.

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.