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

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 completion of the sale, the chief executive officer now directly owns 1,240,785 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website.

Formula One Group Price Performance

NASDAQ FWONA traded down $1.87 during mid-day trading on Wednesday, reaching $83.65. The stock had a trading volume of 171,589 shares, compared to its average volume of 104,752. The company has a fifty day moving average price of $77.44 and a 200 day moving average price of $72.08. Formula One Group has a 1 year low of $55.86 and a 1 year high of $87.42. The stock has a market cap of $19.66 billion, a PE ratio of 72.74 and a beta of 0.18.

Analyst Ratings Changes

A number of analysts have recently weighed in on FWONA shares. Seaport Res Ptn downgraded 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.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 the company in its most recent Form 13F filing with the SEC. The fund 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 and hedge funds.

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.