Strs Ohio Sells 1,140 Shares of Formula One Group (NASDAQ:FWONA)

Strs Ohio trimmed its holdings in Formula One Group (NASDAQ:FWONA) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,122 shares of the company’s stock after selling 1,140 shares during the quarter. Strs Ohio’s holdings in Formula One Group were worth $2,036,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Formula One Group by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 259,280 shares of the company’s stock valued at $13,853,000 after purchasing an additional 23,691 shares during the last quarter. Fred Alger Management LLC acquired a new position in Formula One Group in the third quarter valued at about $38,000. Janney Montgomery Scott LLC boosted its holdings in Formula One Group by 3.9% during the third quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company’s stock worth $723,000 after buying an additional 481 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Formula One Group during the 1st quarter worth about $30,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Formula One Group by 31.4% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,752 shares of the company’s stock valued at $111,000 after acquiring an additional 419 shares during the last quarter. Institutional investors and hedge funds own 8.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Formula One Group

In related news, major shareholder Berkshire Hathaway Inc bought 20,609 shares of Formula One Group stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of $29.94 per share, with a total value of $617,033.46. Following the purchase, the insider now owns 25,773,955 shares in the company, valued at $771,672,212.70. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased 6,373,045 shares of company stock valued at $180,170,487 over the last quarter. Corporate insiders own 4.83% of the company’s stock.

Formula One Group Price Performance

NASDAQ:FWONA opened at $60.53 on Friday. The stock has a 50-day moving average price of $61.28 and a two-hundred day moving average price of $59.58. Formula One Group has a 1 year low of $55.08 and a 1 year high of $69.48.

Formula One Group (NASDAQ:FWONA) last posted its earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.39). The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion.

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.