Formula One Group (NASDAQ:FWONA) Reaches New 1-Year High – What’s Next?

Formula One Group (NASDAQ:FWONA)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $86.78 and last traded at $85.59, with a volume of 10094 shares trading hands. The stock had previously closed at $85.75.

Analyst Ratings Changes

A number of equities research analysts have commented on FWONA shares. Seaport Res Ptn cut shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Benchmark reaffirmed a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a research report on Thursday, November 14th.

Formula One Group Price Performance

The business’s fifty day moving average price is $77.44 and its 200-day moving average price is $72.08. The stock has a market capitalization of $20.10 billion, a price-to-earnings ratio of 74.37 and a beta of 0.18.

Insiders Place Their Bets

In related news, CAO Brian J. Wendling sold 1,094 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $69.57, for a total value of $76,109.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $78.78, for a total transaction of $1,512,733.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,911 shares of company stock valued at $2,403,701. Corporate insiders own 4.83% of the company’s stock.

Institutional Trading of Formula One Group

An institutional investor recently raised its position in Formula One Group stock. Integrated Wealth Concepts LLC increased its stake in Formula One Group (NASDAQ:FWONA) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,462 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Formula One Group were worth $534,000 at the end of the most recent quarter. 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.