Gregory B. Maffei Sells 6,584 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONK – Get Rating) CEO Gregory B. Maffei sold 6,584 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $69.52, for a total value of $457,719.68. Following the completion of the sale, the chief executive officer now directly owns 945,653 shares in the company, valued at approximately $65,741,796.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Formula One Group Stock Down 0.6 %

Shares of NASDAQ:FWONK opened at $71.65 on Friday. The firm has a market cap of $16.76 billion, a P/E ratio of 34.78 and a beta of 1.09. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. Formula One Group has a 12-month low of $50.00 and a 12-month high of $76.15. The business has a fifty day simple moving average of $69.74 and a 200 day simple moving average of $63.43.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. James Investment Research Inc. raised its position in Formula One Group by 64.4% during the 3rd quarter. James Investment Research Inc. now owns 886 shares of the company’s stock worth $52,000 after purchasing an additional 347 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Formula One Group by 20.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 4,181 shares of the company’s stock worth $292,000 after acquiring an additional 696 shares in the last quarter. US Bancorp DE raised its position in shares of Formula One Group by 74.4% in the 3rd quarter. US Bancorp DE now owns 2,527 shares of the company’s stock worth $147,000 after acquiring an additional 1,078 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Formula One Group by 6.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 19,128 shares of the company’s stock worth $1,119,000 after acquiring an additional 1,128 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Formula One Group by 2,600.0% in the 4th quarter. Bessemer Group Inc. now owns 1,755 shares of the company’s stock worth $105,000 after acquiring an additional 1,690 shares in the last quarter. 87.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FWONK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Formula One Group from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, March 9th. StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a research note on Friday, March 10th. Wolfe Research initiated coverage on Formula One Group in a research note on Friday, February 24th. They issued a “peer perform” rating for the company. Morgan Stanley increased their price target on Formula One Group from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, March 2nd. Finally, Pivotal Research increased their price target on Formula One Group from $70.00 to $82.00 in a research note on Thursday, March 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.80.

Formula One Group Company Profile

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Liberty Media Corp. engages in the operation of media, communications, and entertainment businesses. It operates through the following segments: Sirius XM Holdings, Formula 1. The Sirius XM Holdings segment refers to the complementary audio entertainment businesses, Sirius XM and Pandora. Sirius XM features music, sports, entertainment, comedy, talk, news, traffic, weather channels, and infotainment services.