Strs Ohio lowered its stake in shares of Formula One Group (NASDAQ:FWONA – Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,462 shares of the company’s stock after selling 2,635 shares during the quarter. Strs Ohio’s holdings in Formula One Group were worth $2,056,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brown Brothers Harriman & Co. increased its holdings in Formula One Group by 31.4% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,752 shares of the company’s stock valued at $111,000 after buying an additional 419 shares during the period. MetLife Investment Management LLC bought a new stake in Formula One Group in the 1st quarter valued at $30,000. Fred Alger Management LLC bought a new stake in Formula One Group in the 3rd quarter valued at $38,000. Russell Investments Group Ltd. increased its holdings in Formula One Group by 58.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,003 shares of the company’s stock valued at $107,000 after buying an additional 736 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in Formula One Group in the 4th quarter valued at $246,000. Institutional investors own 8.42% of the company’s stock.
Formula One Group Stock Down 1.6 %
Shares of NASDAQ FWONA opened at $66.80 on Wednesday. The firm’s 50-day simple moving average is $66.72 and its 200 day simple moving average is $64.69. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 40.98 and a beta of 1.09. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.82. Formula One Group has a 12-month low of $45.01 and a 12-month high of $72.09.
Insider Buying and Selling
In other Formula One Group news, CAO Brian J. Wendling sold 1,370 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $36.00, for a total transaction of $49,320.00. Following the transaction, the chief accounting officer now directly owns 15,805 shares in the company, valued at approximately $568,980. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Formula One Group news, CAO Brian J. Wendling sold 1,370 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $36.00, for a total transaction of $49,320.00. Following the transaction, the chief accounting officer now directly owns 15,805 shares in the company, valued at approximately $568,980. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Albert E. Rosenthaler sold 5,882 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $73.79, for a total transaction of $434,032.78. Following the transaction, the insider now owns 72,644 shares in the company, valued at $5,360,400.76. The disclosure for this sale can be found here. 4.83% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on FWONA. Benchmark reaffirmed a “buy” rating and issued a $77.00 target price on shares of Formula One Group in a report on Wednesday, March 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Formula One Group from $60.00 to $70.00 in a report on Thursday, June 1st. Guggenheim upped their target price on shares of Formula One Group from $68.00 to $74.00 in a report on Tuesday, May 9th. Finally, TD Cowen began coverage on shares of Formula One Group in a report on Monday, June 5th. They issued an “outperform” rating and a $90.00 target price on the stock.
Formula One Group Profile
Formula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the 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.
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