Formula One Group (NASDAQ:FWONA) Chairman John C. Malone Sells 119,680 Shares of Stock

Formula One Group (NASDAQ:FWONA – Get Rating) Chairman John C. Malone sold 119,680 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $74.59, for a total value of $8,926,931.20. Following the sale, the chairman now directly owns 3,550,381 shares in the company, valued at $264,822,918.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Formula One Group Stock Performance

NASDAQ:FWONA opened at $64.30 on Wednesday. The stock’s 50-day simple moving average is $61.26 and its 200 day simple moving average is $56.94. The firm has a market capitalization of $15.03 billion, a PE ratio of 31.21 and a beta of 1.09. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. Formula One Group has a twelve month low of $45.01 and a twelve month high of $68.50.

Institutional Trading of Formula One Group

Large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC boosted its stake in Formula One Group by 41.4% in the third quarter. FNY Investment Advisers LLC now owns 1,640 shares of the company’s stock valued at $86,000 after buying an additional 480 shares in the last quarter. OLD Mission Capital LLC acquired a new stake in Formula One Group in the second quarter valued at about $245,000. US Bancorp DE boosted its stake in shares of Formula One Group by 135.7% during the second quarter. US Bancorp DE now owns 2,605 shares of the company’s stock valued at $150,000 after purchasing an additional 1,500 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Formula One Group by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 259,280 shares of the company’s stock valued at $13,853,000 after purchasing an additional 23,691 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Formula One Group by 31.4% during the first quarter. Brown Brothers Harriman & Co. now owns 1,752 shares of the company’s stock valued at $111,000 after purchasing an additional 419 shares in the last quarter. 8.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Benchmark increased their target price on Formula One Group from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Monday.

About Formula One Group

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Liberty Media Corp. engages in the operation of media, communications, and entertainment businesses. It operates through the following segments: Sirius XM Holdings, Formula 1. The Sirius XM Holdings segment refers to the complementary audio entertainment businesses, Sirius XM and Pandora. Sirius XM features music, sports, entertainment, comedy, talk, news, traffic, weather channels, and infotainment services.