Formula One Group (NASDAQ:FWONK) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its position in Formula One Group (NASDAQ:FWONK) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,340 shares of the company’s stock after buying an additional 3,958 shares during the period. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $2,117,000 as of its most recent SEC filing.

Separately, Hahn Capital Management LLC increased its stake in shares of Formula One Group by 33.5% during the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock valued at $4,929,000 after acquiring an additional 17,219 shares during the last quarter. Institutional investors own 92.26% of the company’s stock.

Insider Activity at Formula One Group

In related news, insider Renee L. Wilm sold 19,202 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $78.78, for a total transaction of $1,512,733.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $78.78, for a total transaction of $1,512,733.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrea L. Wong sold 1,604 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the completion of the transaction, the director now owns 5,274 shares of the company’s stock, valued at approximately $250,040.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,817 shares of company stock worth $2,327,591. 4.31% of the stock is currently owned by corporate insiders.

Formula One Group Stock Down 0.6 %

Shares of FWONK stock opened at $80.96 on Wednesday. Formula One Group has a fifty-two week low of $61.23 and a fifty-two week high of $85.60. The firm’s 50 day moving average price is $78.27 and its two-hundred day moving average price is $75.76. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of 76.38 and a beta of 0.01.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FWONK shares. StockNews.com raised shares of Formula One Group to a “sell” rating in a research report on Friday, November 8th. Morgan Stanley lifted their price target on shares of Formula One Group from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, September 23rd. Rosenblatt Securities upped their price objective on Formula One Group from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, UBS Group initiated coverage on Formula One Group in a report on Thursday, October 17th. They issued a “neutral” rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.25.

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.