Formula One Group (NASDAQ:FWONA - Get Free Report) was downgraded by stock analysts at Seaport Res Ptn from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.
Separately, Benchmark reissued a "buy" rating and set a $81.00 price target on shares of Formula One Group in a report on Thursday, November 14th.
Read Our Latest Research Report on Formula One Group
Formula One Group Price Performance
FWONA stock traded up $0.28 during midday trading on Thursday, reaching $85.00. 227,435 shares of the company's stock traded hands, compared to its average volume of 103,587. The company has a market capitalization of $19.98 billion, a P/E ratio of 73.91 and a beta of 0.18. The business has a 50-day moving average price of $75.43 and a two-hundred day moving average price of $71.12. Formula One Group has a fifty-two week low of $55.80 and a fifty-two week high of $86.51.
Insider Buying and Selling at Formula One Group
In other news, Director Andrea L. Wong sold 1,604 shares of the company's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total transaction of $76,045.64. Following the completion of the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Renee L. Wilm sold 19,202 shares of the firm's stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,911 shares of company stock valued at $2,403,701. 4.83% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Formula One Group
A hedge fund recently raised its stake in Formula One Group stock. Integrated Wealth Concepts LLC lifted its stake in shares of Formula One Group (NASDAQ:FWONA - Free Report) by 4.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,462 shares of the company's stock after buying an additional 300 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Formula One Group were worth $534,000 as of its most recent SEC filing. 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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