Sen. John W. Hickenlooper Sells Formula One Group (NASDAQ:FWONK) Stock

Senator John W. Hickenlooper (D-Colorado) recently sold shares of Formula One Group NASDAQ: FWONK. In a filing disclosed on April 21st, the Senator disclosed that they had sold between $50,001 and $100,000 in Formula One Group stock on March 18th.

Formula One Group Trading Up 2.6 %

Shares of FWONK stock opened at $86.59 on Thursday. The company's fifty day simple moving average is $87.63 and its 200-day simple moving average is $88.33. Formula One Group has a 52 week low of $68.18 and a 52 week high of $102.33. The company has a market cap of $21.58 billion, a PE ratio of 75.30 and a beta of 0.32.

Formula One Group (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($1.45). The business had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $1.37 billion. Equities research analysts expect that Formula One Group will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on FWONK shares. Wells Fargo & Company lowered their price objective on shares of Formula One Group from $83.00 to $80.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. Seaport Res Ptn upgraded shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a research note on Sunday, March 16th. StockNews.com raised Formula One Group to a "sell" rating in a report on Tuesday, April 1st. Rosenblatt Securities restated a "buy" rating and set a $102.00 price objective on shares of Formula One Group in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Formula One Group from $96.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.33.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Praxis Investment Management Inc. increased its stake in shares of Formula One Group by 10.7% during the first quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock valued at $888,000 after acquiring an additional 950 shares during the period. Versant Capital Management Inc increased its position in shares of Formula One Group by 1,378.8% during the 1st quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock valued at $194,000 after purchasing an additional 2,013 shares during the period. California State Teachers Retirement System raised its stake in shares of Formula One Group by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock worth $32,518,000 after buying an additional 6,297 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Formula One Group by 1.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock valued at $37,529,000 after buying an additional 4,897 shares during the period. Finally, Greenwood Gearhart Inc. lifted its holdings in shares of Formula One Group by 2.7% in the fourth quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock valued at $16,764,000 after buying an additional 4,761 shares during the period. Institutional investors and hedge funds own 92.26% of the company's stock.

About Senator Hickenlooper

John Hickenlooper (Democratic Party) is a member of the U.S. Senate from Colorado. He assumed office on January 3, 2021. His current term ends on January 3, 2027. Hickenlooper (Democratic Party) ran for election to the U.S. Senate to represent Colorado. He won in the general election on November 3, 2020. Hickenlooper also ran for election for President of the United States. He did not appear on the ballot for the Democratic convention on August 18, 2020. Hickenlooper was the 42nd governor of Colorado from 2011 to 2019. He was prevented by term limits from seeking re-election in 2018. On March 4, 2019, Hickenlooper announced that he was running for president of the United States. On August 15, 2019, Hickenlooper suspended his presidential campaign. Hickenlooper previously served as mayor of Denver from 2003 to 2011, during which time the city hosted the 2008 Democratic National Convention. John Hickenlooper was born in Narberth, Pennsylvania. Hickenlooper earned a bachelor's degree and a master's degree in geology from Wesleyan University in 1974 and 1980, respectively. His career experience includes working with Buckhorn Petroleum and founding a brewpub.

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.

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