Andrea L. Wong Sells 1,604 Shares of Formula One Group (NASDAQ:FWONA) Stock

Formula One Group (NASDAQ:FWONA) Director Andrea L. Wong sold 1,604 shares of the business’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 sale, the director now directly owns 5,274 shares of the company’s stock, valued at $250,040.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Formula One Group Trading Up 0.5 %

Shares of NASDAQ:FWONA opened at $72.29 on Friday. The stock has a market cap of $16.99 billion and a PE ratio of 52.77. The stock’s fifty day simple moving average is $70.87 and its two-hundred day simple moving average is $66.25. Formula One Group has a 1-year low of $55.24 and a 1-year high of $75.50.

Formula One Group (NASDAQ:FWONA) 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 $0.34 by ($0.24). The company had revenue of $853.00 million for the quarter, compared to the consensus estimate of $1.04 billion. On average, sell-side analysts forecast that Formula One Group will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Benchmark boosted their price objective on Formula One Group from $77.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Hedge Funds Weigh In On Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC lifted its holdings in shares of Formula One Group (NASDAQ:FWONA) by 13.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,413 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 8.38% of the company’s stock.

Formula One Group Company Profile

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.