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

Posted by Floyd Graber on Dec 21st, 2024

Formula One Group (NASDAQ:FWONA – Get Free Report) CEO Gregory B. Maffei sold 35,463 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 1,240,785 shares of the company’s stock, valued at approximately $88,753,351.05. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Formula One Group Trading Up 0.1 %

Shares of Formula One Group stock opened at $85.28 on Friday. The company has a market capitalization of $20.04 billion, a P/E ratio of 74.16 and a beta of 0.18. The stock has a fifty day simple moving average of $78.23 and a 200 day simple moving average of $72.36. Formula One Group has a 12-month low of $55.86 and a 12-month high of $87.42.

Hedge Funds Weigh In On Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Integrated Wealth Concepts LLC increased its position in shares of Formula One Group (NASDAQ:FWONA – Free Report) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,462 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Formula One Group were worth $534,000 as of its most recent SEC filing. 8.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FWONA has been the subject of several research analyst reports. Seaport Res Ptn downgraded shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Benchmark reaffirmed a “buy” rating and issued a $81.00 price target on shares of Formula One Group in a research report on Thursday, November 14th.

View Our Latest Stock Report on Formula One Group

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.