Formula One Group (NASDAQ:FWONK - Get Free Report) CEO Gregory B. Maffei sold 35,463 shares of Formula One Group stock in a transaction on Monday, December 16th. The shares were sold at an average price of $71.53, for a total value of $2,536,668.39. Following the completion of the transaction, the chief executive officer now owns 1,240,785 shares of the company's stock, valued at approximately $88,753,351.05. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Formula One Group Price Performance
Shares of Formula One Group stock traded down $2.32 during trading hours on Wednesday, hitting $92.58. The company had a trading volume of 2,005,373 shares, compared to its average volume of 1,179,107. The company's 50-day moving average is $84.38 and its two-hundred day moving average is $78.92. Formula One Group has a twelve month low of $61.44 and a twelve month high of $96.89. The company has a market cap of $20.58 billion, a P/E ratio of 80.51 and a beta of 0.18.
Formula One Group (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.18. The firm had revenue of $848.00 million for the quarter, compared to analysts' expectations of $837.59 million. Sell-side analysts expect that Formula One Group will post 1.36 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in FWONK. Hahn Capital Management LLC increased its stake in Formula One Group by 33.5% in the second quarter. Hahn Capital Management LLC now owns 68,616 shares of the company's stock valued at $4,929,000 after purchasing an additional 17,219 shares during the period. Greenwood Gearhart Inc. grew its holdings in shares of Formula One Group by 8.1% during the third quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock worth $13,640,000 after buying an additional 13,146 shares during the last quarter. MetLife Investment Management LLC increased its position in Formula One Group by 3.0% in the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company's stock valued at $538,000 after acquiring an additional 203 shares during the period. Janney Montgomery Scott LLC raised its stake in Formula One Group by 16.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company's stock valued at $2,117,000 after acquiring an additional 3,958 shares during the last quarter. Finally, Lountzis Asset Management LLC lifted its position in Formula One Group by 17.0% during the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company's stock worth $461,000 after acquiring an additional 864 shares during the period. Hedge funds and other institutional investors own 92.26% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. StockNews.com cut Formula One Group from a "hold" rating to a "sell" rating in a research note on Monday, November 18th. Seaport Res Ptn cut shares of Formula One Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 4th. UBS Group started coverage on shares of Formula One Group in a research report on Thursday, October 17th. They set a "neutral" rating and a $85.00 price objective for the company. Morgan Stanley raised Formula One Group from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $95.00 to $115.00 in a report on Wednesday. Finally, Rosenblatt Securities lifted their price target on Formula One Group from $91.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Formula One Group has an average rating of "Hold" and an average price target of $95.75.
Get Our Latest Analysis on FWONK
Formula One Group Company Profile
(
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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.
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