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 0.0%

NASDAQ FWONK traded down $0.03 on Thursday, hitting $95.44. The company's stock had a trading volume of 861,273 shares, compared to its average volume of 1,248,343. Formula One Group has a 1-year low of $70.31 and a 1-year high of $102.33. The company's 50-day moving average is $88.84 and its 200 day moving average is $90.80. The firm has a market cap of $23.81 billion, a PE ratio of 82.99 and a beta of 0.33.

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

Insider Activity

In related news, Director Chase Carey sold 50,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $94.60, for a total transaction 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. This trade represents a 34.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.31% of the company's stock.

Institutional Investors Weigh In On Formula One Group

A number of large investors have recently bought and sold shares of FWONK. GW&K Investment Management LLC acquired a new position in shares of Formula One Group during the first quarter valued at about $25,000. Janney Montgomery Scott LLC grew its holdings in shares of Formula One Group by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock valued at $2,560,000 after buying an additional 287 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Formula One Group by 22.3% during the first quarter. HighPoint Advisor Group LLC now owns 4,278 shares of the company's stock valued at $382,000 after buying an additional 779 shares during the last quarter. Praxis Investment Management Inc. grew its holdings in shares of Formula One Group by 10.7% during the first quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock valued at $888,000 after buying an additional 950 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of 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 valued at $194,000 after buying an additional 2,013 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on FWONK. Seaport Res Ptn upgraded shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 16th. Wall Street Zen cut shares of Formula One Group from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Morgan Stanley decreased their price objective on shares of Formula One Group from $115.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Wells Fargo & Company reduced their price target 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Formula One Group from $105.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.57.

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.