Taking a Closer Look At Formula One Group (FWONK) Following Its Recent Trade


Formula One Group’s recently made public that its CAO/PFO Wendling Brian J unloaded Company’s shares for reported $47950.0 on Jan 11. In the deal valued at $35.00 per share,1,370 shares were sold. As a result of this transaction, Wendling Brian J now holds 14,871 shares worth roughly $ 1.01 million.

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Then, Wendling Brian J sold 1,371 shares, generating $46,614 in total proceeds. Upon selling the shares at $34.00, the CAO/PFO now owns 14,871 shares.

Before that, GAMCO INVESTORS, INC. ET AL bought 200 shares. Formula One Group shares valued at $6,560 were divested by the 10% Owner at a price of $32.80 per share. As a result of the transaction, GAMCO INVESTORS, INC. ET AL now holds 2,000 shares, worth roughly $0.14 million.

Wolfe Research initiated its Formula One Group [FWONK] rating to a Peer perform in a research note published on Tuesday. A number of analysts have revised their coverage, including Rosenblatt’s analysts, who began to cover the stock in late April with a ‘”a Buy”‘ rating. Goldman began covering FWONK with “Neutral” recommendation on July 16, 2021. Berenberg started covering the stock on September 30, 2020. It rated FWONK as “a Buy”.

Price Performance Review of FWONK

On Tuesday, Formula One Group [NASDAQ:FWONK] saw its stock fall -2.15% to $67.87. On the same session, the stock had its day’s lowest price of $67.37, but rose to a high of $69.58. Over the last five days, the stock has lost -1.68%. Formula One Group shares have risen nearly 13.53% since the year began. Nevertheless, the stocks have risen 8.19% over the past one year. While a 52-week high of $73.22 was reached on 02/09/23, a 52-week low of $50.00 was recorded on 01/03/23. SMA at 50 days reached $66.53, while 200 days put it at $62.95. A total of 1.43 million shares were traded, compared to the trading of 0.69 million shares in the previous session.

Levels Of Support And Resistance For FWONK Stock

The 24-hour chart illustrates a support level at 66.97, which if violated will result in even more drops to 66.06. On the upside, there is a resistance level at 69.18. A further resistance level may holdings at 70.48. The Relative Strength Index (RSI) on the 14-day chart is 43.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.45%. Stochastics %K at 19.17% indicates the stock is a buying.

How much short interest is there in Formula One Group?

A steep rise in short interest was recorded in Formula One Group stocks on Jan 30, 2023, dropping by -0.5 million shares to a total of 6.77 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 7.27 million shares. There was a decline of -7.39%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.36% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.83.

Formula One Group [FWONK] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 17,457,520 shares, or roughly 8.46% of the outstanding FWONK shares. In other words, the investor’s shares have risen by 345,117 from its previous 13-F filing of 17112403.0. Additionally, Caledonia increased 0.38% of its stake after which the total value it holdings stand at $1,051,801,048, while Janus Henderson Investors US LLC reduced -0.08% of its stake to hold $967.25 million in the firm. Over the last quarter, T. Rowe Price Associates, Inc. purchased 1,098,537 shares of Formula One Group, while T. Rowe Price Investment Manageme bought 794,743 shares. At present, Ruane, Cunniff & Goldfarb LP is holding 8,784,381 shares valued at $621.93 million. BlackRock Fund Advisors owned 8,056,810 shares of the company at the time of its most recent 13F filing, worth $570.42 million.


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