Formula One Group (NASDAQ:FWONK) Raised to “Sell” at StockNews.com

Formula One Group (NASDAQ:FWONK) was upgraded by investment analysts at StockNews.com to a “sell” rating in a report released on Wednesday.

Other equities research analysts have also issued reports about the stock. UBS Group assumed coverage on shares of Formula One Group in a research report on Thursday, October 17th. They issued a “neutral” rating and a $85.00 price objective on the stock. Morgan Stanley lifted their target price on shares of 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.

Formula One Group Price Performance

Shares of FWONK stock traded down $0.27 during midday trading on Wednesday, reaching $80.66. 919,625 shares of the company traded hands, compared to its average volume of 1,157,411. The firm’s 50 day simple moving average is $77.67 and its two-hundred day simple moving average is $74.96. The firm has a market cap of $18.96 billion, a PE ratio of 58.88 and a beta of 0.04. Formula One Group has a 1-year low of $61.23 and a 1-year high of $82.23.

Formula One Group (NASDAQ:FWONK) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). The company had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $960.45 million. As a group, research analysts anticipate that Formula One Group will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Formula One Group

In other Formula One Group news, CAO Brian J. Wendling sold 10,011 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $73.80, for a total value of $738,811.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Brian J. Wendling sold 10,011 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $73.80, for a total value of $738,811.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrea L. Wong sold 1,604 shares of Formula One Group 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 completion of the transaction, the director now owns 5,274 shares in the company, valued at $250,040.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,817 shares of company stock worth $2,327,591. Insiders own 4.31% of the company’s stock.

Institutional Trading of Formula One Group

A number of institutional investors and hedge funds have recently bought and sold shares of FWONK. Beach Investment Counsel Inc. PA acquired a new stake in Formula One Group in the 2nd quarter valued at $48,000. Janney Montgomery Scott LLC boosted its position in shares of Formula One Group by 13.6% in the first quarter. Janney Montgomery Scott LLC now owns 21,000 shares of the company’s stock worth $1,378,000 after buying an additional 2,514 shares during the period. Finally, Hahn Capital Management LLC grew its stake in shares of Formula One Group by 33.5% in the second quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock valued at $4,929,000 after buying an additional 17,219 shares in the last quarter. Institutional investors and hedge funds own 92.26% 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.