Formula One Group (NASDAQ:FWONK – Get Rating) CAO Brian J. Wendling sold 9,058 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $73.22, for a total transaction of $663,226.76. Following the sale, the chief accounting officer now owns 8,137 shares of the company’s stock, valued at approximately $595,791.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Formula One Group Stock Performance
Shares of FWONK stock opened at $73.38 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. Formula One Group has a 52 week low of $50.00 and a 52 week high of $76.15. The stock has a market capitalization of $17.16 billion, a PE ratio of 35.62 and a beta of 1.09. The firm has a 50 day moving average of $70.48 and a two-hundred day moving average of $63.74.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on FWONK. Wolfe Research began coverage on shares of Formula One Group in a research report on Friday, February 24th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of Formula One Group from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, March 9th. StockNews.com cut shares of Formula One Group from a “hold” rating to a “sell” rating in a research report on Friday, March 10th. Morgan Stanley increased their price objective on shares of Formula One Group from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, March 2nd. Finally, Pivotal Research increased their price objective on shares of Formula One Group from $70.00 to $82.00 in a research report on Thursday, March 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.80.
Hedge Funds Weigh In On Formula One Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FWONK. James Investment Research Inc. boosted its position in Formula One Group by 64.4% in the 3rd quarter. James Investment Research Inc. now owns 886 shares of the company’s stock valued at $52,000 after buying an additional 347 shares during the period. Bessemer Group Inc. boosted its position in Formula One Group by 2,600.0% in the 4th quarter. Bessemer Group Inc. now owns 1,755 shares of the company’s stock valued at $105,000 after buying an additional 1,690 shares during the period. US Bancorp DE lifted its position in shares of Formula One Group by 74.4% during the 3rd quarter. US Bancorp DE now owns 2,527 shares of the company’s stock worth $147,000 after purchasing an additional 1,078 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Formula One Group during the 1st quarter worth $277,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Formula One Group by 20.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 4,181 shares of the company’s stock worth $292,000 after purchasing an additional 696 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.
About Formula One Group
Liberty Media Corp. engages in the operation of media, communications, and entertainment businesses. It operates through the following segments: Sirius XM Holdings, Formula 1. The Sirius XM Holdings segment refers to the complementary audio entertainment businesses, Sirius XM and Pandora. Sirius XM features music, sports, entertainment, comedy, talk, news, traffic, weather channels, and infotainment services.
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