Formula One Group (NASDAQ:FWONA) Sees Unusually-High Trading Volume

Formula One Group (NASDAQ:FWONAGet Free Report) saw unusually-high trading volume on Friday . Approximately 132,651 shares changed hands during mid-day trading, an increase of 42% from the previous session’s volume of 93,745 shares.The stock last traded at $64.73 and had previously closed at $65.00.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $73.00 price target on shares of Formula One Group in a report on Tuesday, April 2nd.

Get Our Latest Stock Analysis on FWONA

Formula One Group Trading Up 1.3 %

The firm’s 50-day moving average is $61.36 and its two-hundred day moving average is $59.97. The stock has a market cap of $15.47 billion and a price-to-earnings ratio of 48.04.

Formula One Group (NASDAQ:FWONAGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.39). The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. On average, analysts predict that Formula One Group will post 1.47 earnings per share for the current year.

Insider Buying and Selling at Formula One Group

In other Formula One Group news, major shareholder Berkshire Hathaway Inc acquired 1,250,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was bought at an average price of $27.76 per share, for a total transaction of $34,700,000.00. Following the acquisition, the insider now owns 66,736,288 shares in the company, valued at $1,852,599,354.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman John C. Malone sold 89,951 shares of Formula One Group stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $70.53, for a total transaction of $6,344,244.03. Following the sale, the chairman now owns 2,540,430 shares of the company’s stock, valued at approximately $179,176,527.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc purchased 1,250,000 shares of Formula One Group stock in a transaction dated Thursday, April 4th. The shares were purchased at an average cost of $27.76 per share, for a total transaction of $34,700,000.00. Following the transaction, the insider now owns 66,736,288 shares in the company, valued at approximately $1,852,599,354.88. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,457,501 shares of company stock worth $179,148,132 and sold 229,103 shares worth $15,940,449. 4.83% of the stock is owned by insiders.

Institutional Trading of Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC grew its holdings in Formula One Group (NASDAQ:FWONAFree Report) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,789 shares of the company’s stock after acquiring an additional 481 shares during the period. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $723,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 8.38% of the company’s stock.

About Formula One Group

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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.

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