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 stock in a transaction on 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 approximately $250,040.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Formula One Group Trading Up 0.5 %

Formula One Group stock opened at $72.29 on Friday. The company has a market cap of $16.99 billion and a P/E ratio of 52.77. Formula One Group has a 1-year low of $55.24 and a 1-year high of $75.50. The company has a fifty day simple moving average of $70.87 and a 200 day simple moving average of $66.19.

Formula One Group (NASDAQ:FWONA) last released its 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 analyst estimates of $1.04 billion. On average, equities research analysts forecast that Formula One Group will post 1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Formula One Group stock. Janney Montgomery Scott LLC raised its position in Formula One Group (NASDAQ:FWONA) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 reporting period. 8.38% of the stock is owned by hedge funds and other institutional investors.

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.