Formula One Group (NASDAQ:FWONA) Sees Strong Trading Volume

Formula One Group (NASDAQ:FWONA - Get Free Report) saw unusually-high trading volume on Friday . Approximately 132,651 shares changed hands during 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.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $73.00 price objective on shares of Formula One Group in a report on Tuesday, April 2nd.

Formula One Group Stock Performance

The stock's 50-day simple moving average is $61.32 and its 200-day simple moving average is $59.91. The firm has a market capitalization of $15.47 billion and a PE ratio of 48.04.

Formula One Group (NASDAQ:FWONA - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.39). The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. As a group, analysts predict that Formula One Group will post 1.47 earnings per share for the current fiscal year.

Insider Activity at Formula One Group

In related news, major shareholder Berkshire Hathaway Inc purchased 1,188,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $29.39 per share, with a total value of $34,915,320.00. Following the transaction, the insider now directly owns 50,682,902 shares in the company, valued at $1,489,570,489.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Formula One Group news, Chairman John C. Malone sold 139,065 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $68.98, for a total transaction of $9,592,703.70. Following the sale, the chairman now directly owns 2,401,365 shares in the company, valued at approximately $165,646,157.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Berkshire Hathaway Inc purchased 1,188,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $29.39 per share, for a total transaction of $34,915,320.00. Following the completion of the acquisition, the insider now owns 50,682,902 shares of the company's stock, valued at $1,489,570,489.78. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 6,457,501 shares of company stock valued at $179,148,132 and sold 229,103 shares valued at $15,940,449. 4.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Kornitzer Capital Management Inc. KS grew its holdings in Formula One Group (NASDAQ:FWONA - Free Report) by 38.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,829 shares of the company's stock after acquiring an additional 8,500 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Formula One Group were worth $1,787,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.38% of the company's stock.

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.