Formula One Group (NASDAQ:FWONA) Sees Unusually-High Trading Volume – What’s Next?

Formula One Group (NASDAQ:FWONA) shares saw unusually-high trading volume on Wednesday . Approximately 362,357 shares were traded during trading, an increase of 260% from the previous session’s volume of 100,539 shares.The stock last traded at $80.97 and had previously closed at $80.51.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a report on Thursday, November 14th.

Formula One Group Stock Up 0.7 %

The firm has a 50-day moving average of $74.09 and a two-hundred day moving average of $70.35. The company has a market capitalization of $19.06 billion, a PE ratio of 70.51 and a beta of 0.05.

Insider Transactions at Formula One Group

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

Hedge Funds Weigh In On Formula One Group

An institutional investor recently raised its position in Formula One Group stock. Integrated Wealth Concepts LLC grew its holdings in Formula One Group (NASDAQ:FWONA) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,462 shares of the company’s stock after acquiring an additional 300 shares during the period. Integrated Wealth Concepts LLC’s holdings in Formula One Group were worth $534,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 8.38% of the company’s stock.

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.