Gregory B. Maffei Sells 35,463 Shares of Formula One Group (NASDAQ:FWONA) Stock

Formula One Group (NASDAQ:FWONA) CEO Gregory B. Maffei sold 35,463 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $71.53, for a total value of $2,536,668.39. Following 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 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 at this hyperlink.

Formula One Group Trading Up 1.8 %

Shares of NASDAQ FWONA opened at $85.17 on Friday. The stock has a market capitalization of $20.02 billion, a PE ratio of 74.06 and a beta of 0.18. Formula One Group has a twelve month low of $55.86 and a twelve month high of $87.42. The stock has a fifty day simple moving average of $77.98 and a 200-day simple moving average of $72.25.

Hedge Funds Weigh In On Formula One Group

A hedge fund recently raised its stake 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. 8.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on FWONA shares. Seaport Res Ptn cut shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Benchmark restated a “buy” rating and issued a $81.00 price objective on shares of Formula One Group in a report on Thursday, November 14th.

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.