Sen. John W. Hickenlooper Sells Off Shares of Formula One Group (NASDAQ:FWONK)

Senator John W. Hickenlooper (D-Colorado) recently sold shares of Formula One Group (NASDAQ:FWONK). In a filing disclosed on May 26th, the Senator disclosed that they had sold between $250,001 and $500,000 in Formula One Group stock on May 9th.

Senator John W. Hickenlooper also recently made the following trade(s):

• Purchased $250,001 – $500,000 in shares of Liberty Broadband (NASDAQ:LBRDK) on 5/9/2025.
• Purchased $100,001 – $250,000 in shares of Formula One Group (NASDAQ:FWONK) on 5/9/2025.
• Purchased $100,001 – $250,000 in shares of Liberty Broadband (NASDAQ:LBRDK) on 5/9/2025.
• Sold $100,001 – $250,000 in shares of Liberty Broadband (NASDAQ:LBRDK) on 5/9/2025.
• Sold $250,001 – $500,000 in shares of Liberty Broadband (NASDAQ:LBRDK) on 5/9/2025.
• Sold $15,001 – $50,000 in shares of Formula One Group (NASDAQ:FWONK) on 5/9/2025.
• Sold $50,001 – $100,000 in shares of Sirius XM (NASDAQ:SIRI) on 4/25/2025.
• Sold $50,001 – $100,000 in shares of Formula One Group (NASDAQ:FWONK) on 3/18/2025.

Formula One Group Stock Down 0.6%

Shares of NASDAQ:FWONK opened at $96.70 on Wednesday. The firm’s 50 day moving average price is $88.65 and its 200 day moving average price is $90.76. The stock has a market cap of $24.12 billion, a price-to-earnings ratio of 84.09 and a beta of 0.33. Formula One Group has a fifty-two week low of $70.31 and a fifty-two week high of $102.33.

Formula One Group (NASDAQ:FWONK) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.23. The firm had revenue of $447.00 million during the quarter, compared to analyst estimates of $440.80 million. On average, equities analysts anticipate that Formula One Group will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FWONK shares. JPMorgan Chase & Co. raised their target price on shares of Formula One Group from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Wells Fargo & Company reduced their target price on shares of Formula One Group from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. Morgan Stanley reduced their target price on shares of Formula One Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Wall Street Zen cut shares of Formula One Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $102.00 price objective on shares of Formula One Group in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.57.

Institutional Trading of Formula One Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC acquired a new stake in Formula One Group during the first quarter worth approximately $25,000. Versant Capital Management Inc raised its holdings in Formula One Group by 1,378.8% during the first quarter. Versant Capital Management Inc now owns 2,159 shares of the company’s stock worth $194,000 after purchasing an additional 2,013 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in Formula One Group by 22.3% during the first quarter. HighPoint Advisor Group LLC now owns 4,278 shares of the company’s stock worth $382,000 after purchasing an additional 779 shares in the last quarter. Allstate Corp acquired a new stake in Formula One Group during the fourth quarter worth approximately $571,000. Finally, Praxis Investment Management Inc. increased its holdings in shares of Formula One Group by 10.7% in the 1st quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company’s stock valued at $888,000 after acquiring an additional 950 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.

Insider Activity

In other news, Director Chase Carey sold 50,000 shares of Formula One Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.60, for a total value of $4,730,000.00. Following the transaction, the director now directly owns 93,102 shares of the company’s stock, valued at $8,807,449.20. The trade was a 34.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.31% of the company’s stock.

About Senator Hickenlooper

John Hickenlooper (Democratic Party) is a member of the U.S. Senate from Colorado. He assumed office on January 3, 2021. His current term ends on January 3, 2027. Hickenlooper (Democratic Party) ran for election to the U.S. Senate to represent Colorado. He won in the general election on November 3, 2020. Hickenlooper also ran for election for President of the United States. He did not appear on the ballot for the Democratic convention on August 18, 2020. Hickenlooper was the 42nd governor of Colorado from 2011 to 2019. He was prevented by term limits from seeking re-election in 2018. On March 4, 2019, Hickenlooper announced that he was running for president of the United States. On August 15, 2019, Hickenlooper suspended his presidential campaign. Hickenlooper previously served as mayor of Denver from 2003 to 2011, during which time the city hosted the 2008 Democratic National Convention. John Hickenlooper was born in Narberth, Pennsylvania. Hickenlooper earned a bachelor’s degree and a master’s degree in geology from Wesleyan University in 1974 and 1980, respectively. His career experience includes working with Buckhorn Petroleum and founding a brewpub.

Formula One Group Company Profile

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.