Sen. John W. Hickenlooper Sells Formula One Group (NASDAQ:FWONK) Stock

Senator John W. Hickenlooper (D-Colorado) recently sold shares of Formula One Group NASDAQ: FWONK. In a filing disclosed on April 21st, the Senator disclosed that they had sold between $50,001 and $100,000 in Formula One Group stock on March 18th.

Formula One Group Stock Performance

Shares of NASDAQ FWONK traded up $0.55 during mid-day trading on Friday, hitting $87.63. The stock had a trading volume of 877,543 shares, compared to its average volume of 1,262,540. The firm has a market cap of $21.84 billion, a P/E ratio of 76.20 and a beta of 0.32. The business has a 50 day moving average price of $87.21 and a two-hundred day moving average price of $88.67. Formula One Group has a 1 year low of $68.43 and a 1 year high of $102.33.

Formula One Group (NASDAQ:FWONK - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($1.45). The company had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $1.37 billion. Equities research analysts predict that Formula One Group will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Formula One Group

Several institutional investors have recently added to or reduced their stakes in FWONK. Everence Capital Management Inc. purchased a new position in shares of Formula One Group in the fourth quarter worth $827,000. Janney Montgomery Scott LLC raised its stake in Formula One Group by 1.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock worth $2,560,000 after acquiring an additional 287 shares during the last quarter. Hahn Capital Management LLC grew its stake in Formula One Group by 47.7% during the 4th quarter. Hahn Capital Management LLC now owns 67,197 shares of the company's stock valued at $6,226,000 after purchasing an additional 21,699 shares during the last quarter. Allstate Corp purchased a new position in shares of Formula One Group in the fourth quarter worth about $571,000. Finally, Greenwood Gearhart Inc. lifted its holdings in shares of Formula One Group by 2.7% during the fourth quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock worth $16,764,000 after purchasing an additional 4,761 shares during the period. Institutional investors and hedge funds own 92.26% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Formula One Group from $96.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. StockNews.com upgraded shares of Formula One Group to a "sell" rating in a research note on Tuesday, April 1st. Morgan Stanley dropped their price target on Formula One Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and set a $102.00 price target on shares of Formula One Group in a report on Friday, March 7th. Finally, Wells Fargo & Company decreased their target price on shares of Formula One Group from $83.00 to $80.00 and set an "underweight" rating for the company in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $95.33.

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.