Formula One Group (NASDAQ:FWONA) Reaches New 12-Month High – What’s Next?

Formula One Group (NASDAQ:FWONA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $77.80 and last traded at $76.93, with a volume of 4768 shares trading hands. The stock had previously closed at $75.17.

Analyst Upgrades and Downgrades

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

Formula One Group Stock Performance

The stock has a market cap of $18.04 billion, a price-to-earnings ratio of 72.40 and a beta of 0.05. The firm’s 50-day moving average price is $71.98 and its two-hundred day moving average price is $68.78.

Formula One Group (NASDAQ:FWONA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.24). The firm had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $1.04 billion. As a group, sell-side analysts expect that Formula One Group will post 1.23 earnings per share for the current fiscal year.

Insider Activity

In other Formula One Group news, CAO Brian J. Wendling sold 10,011 shares of Formula One Group stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $73.80, for a total transaction of $738,811.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Brian J. Wendling sold 10,011 shares of Formula One Group 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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 in the last quarter.

Hedge Funds Weigh In On Formula One Group

An institutional investor recently bought a new position in Formula One Group stock. Lountzis Asset Management LLC bought a new position in shares of Formula One Group (NASDAQ:FWONA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,079 shares of the company’s stock, valued at approximately $220,000. 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.