Schroder Investment Management Group Reduces $134M in Formula One Group ($FWONK)
Key Points
- Schroder Investment Management Group changed its Formula One Group ($FWONK) stake by 30.1% last quarter, cutting to 3,433,167 shares worth $310.43 million.
- Wall Street's consensus rating on $FWONK is Strong Buy and an average price target of $114.56.
- $FWONK last traded around $90.42.
Schroder Investment Management Group reduced its position in Formula One Group ($FWONK) by 30.1% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,433,167 shares of Formula One Group after selling 1,477,782 shares during the quarter. Schroder Investment Management Group's holdings in Formula One Group were worth $310.43 million as of its most recent filing.
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About Formula One Group
Formula One Group, together with its subsidiaries, engages in the motorsports business in the United States, the United Kingdom, Spain, and internationally. The company holds commercial rights for the Fédération Internationale de l'Automobile (FIA) Formula One World Championship, an annual nine-month long motor race-based competition in which teams compete for the Constructors' championship and drivers compete for the Drivers' championship. It is also involved in filming, television production and post-production, and digital and social media activities; provision of freight, logistical, and travel related services, as well as technical support at Formula 1 events; production of the international television feed; and operation of the Formula 1 Paddock Club hospitality program, F2 and F3 race series, and F1 Academy. The company was founded in 1950 and is headquartered in Englewood, Colorado. Formula One Group operates as a subsidiary of Liberty Media Corporation.
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