Formula One Group (NASDAQ:FWONA) CEO Sells $2,536,668.39 in Stock

Posted by Charles Blunt on Dec 21st, 2024

Formula One Group (NASDAQ:FWONA – Get Free Report) CEO Gregory B. Maffei sold 35,463 shares of the firm’s 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 sale, the chief executive officer now directly owns 1,240,785 shares in the company, valued at approximately $88,753,351.05. This trade represents a 2.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Formula One Group Stock Up 0.1 %

NASDAQ FWONA opened at $85.28 on Friday. The company has a market capitalization of $20.04 billion, a price-to-earnings ratio of 74.16 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 $78.23 and a 200 day simple moving average of $72.36.

Institutional Investors Weigh In On Formula One Group

A hedge fund recently bought a new stake in Formula One Group stock. Lountzis Asset Management LLC bought a new stake in shares of Formula One Group (NASDAQ:FWONA – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,079 shares of the company’s stock, valued at approximately $220,000. 8.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FWONA. Seaport Res Ptn lowered Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Benchmark reiterated a “buy” rating and set a $81.00 target price on shares of Formula One Group in a research report on Thursday, November 14th.

Read Our Latest Stock Report on FWONA

About Formula One Group

(Get Free Report)

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.