Formula One Group (NASDAQ:FWONA) Hits New 1-Year High – Here’s What Happened

Shares of Formula One Group (NASDAQ:FWONA) reached a new 52-week high during trading on Monday . The stock traded as high as $79.99 and last traded at $79.81, with a volume of 37939 shares changing hands. The stock had previously closed at $77.45.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and set a $81.00 price objective on shares of Formula One Group in a research note on Thursday, November 14th.

Formula One Group Stock Up 0.7 %

The company has a market cap of $19.06 billion, a PE ratio of 70.51 and a beta of 0.05. The stock’s 50 day simple moving average is $73.93 and its two-hundred day simple moving average is $70.27.

Insider Activity

In related news, Director Andrea L. Wong sold 1,604 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total transaction of $76,045.64. Following the completion of the sale, the director now directly owns 5,274 shares of the company’s stock, valued at approximately $250,040.34. This trade represents a 23.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian J. Wendling sold 1,094 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $69.57, for a total transaction of $76,109.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,911 shares of company stock valued at $2,403,701.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Formula One Group stock. Lountzis Asset Management LLC purchased a new stake in Formula One Group (NASDAQ:FWONA) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 3,079 shares of the company’s stock, valued at approximately $220,000. Institutional investors and hedge funds 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.