Insider Selling: Formula One Group (NASDAQ:FWONA) CAO Sells $34,485.00 in Stock

Formula One Group (NASDAQ:FWONA – Get Rating) CAO Brian J. Wendling sold 1,045 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $33.00, for a total value of $34,485.00. Following the transaction, the chief accounting officer now directly owns 17,826 shares in the company, valued at $588,258. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Formula One Group Stock Performance

FWONA stock opened at $53.50 on Friday. Formula One Group has a fifty-two week low of $45.01 and a fifty-two week high of $64.70. The business’s 50-day moving average is $53.07 and its two-hundred day moving average is $56.08. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.95 and a quick ratio of 0.95.

Formula One Group (NASDAQ:FWONA – Get Rating) last posted its earnings results on Friday, November 4th. The company reported $0.31 earnings per share for the quarter. Formula One Group had a return on equity of 0.19% and a net margin of 1.34%. The company had revenue of $715.00 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FWONA. Brown Brothers Harriman & Co. increased its position in Formula One Group by 31.4% in the first quarter. Brown Brothers Harriman & Co. now owns 1,752 shares of the company’s stock worth $111,000 after buying an additional 419 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Formula One Group in the first quarter worth about $30,000. FNY Investment Advisers LLC increased its position in Formula One Group by 41.4% in the third quarter. FNY Investment Advisers LLC now owns 1,640 shares of the company’s stock worth $86,000 after buying an additional 480 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of Formula One Group during the third quarter worth about $38,000. Finally, US Bancorp DE grew its position in shares of Formula One Group by 135.7% during the second quarter. US Bancorp DE now owns 2,605 shares of the company’s stock worth $150,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 9.09% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft upped their price target on Formula One Group from $55.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, September 14th.

Formula One Group Company Profile

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Formula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the 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.