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 company’s 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. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Formula One Group Stock Down 2.2 %

Shares of NASDAQ FWONA opened at $83.65 on Thursday. The firm’s 50-day simple moving average is $77.70 and its 200 day simple moving average is $72.16. The stock has a market cap of $19.66 billion, a P/E ratio of 72.74 and a beta of 0.18. Formula One Group has a fifty-two week low of $55.86 and a fifty-two week high of $87.42.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FWONA shares. Benchmark reiterated a “buy” rating and issued a $81.00 price objective on shares of Formula One Group in a research report on Thursday, November 14th. Seaport Res Ptn downgraded Formula One Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th.

Institutional Trading of Formula One Group

An institutional investor recently bought a new position in Formula One Group stock. Lountzis Asset Management LLC bought a new position in Formula One Group (NASDAQ:FWONA) in the third quarter, according to its most recent 13F filing with the Securities & 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 institutional investors.

About Formula One Group

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.