Formula One Group (NASDAQ:FWONA – Get Free Report) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 445,300 shares, a growth of 15.4% from the July 15th total of 385,900 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 107,600 shares, the days-to-cover ratio is currently 4.1 days.
Insider Activity
In related news, major shareholder Berkshire Hathaway Inc sold 52,911 shares of Formula One Group stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $34.06, for a total value of $1,802,148.66. Following the completion of the sale, the insider now directly owns 4,999,007 shares in the company, valued at $170,266,178.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.83% of the company’s stock.
Hedge Funds Weigh In On Formula One Group
A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC boosted its position in Formula One Group (NASDAQ:FWONA – Free Report) by 13.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,413 shares of the company’s stock after buying an additional 1,600 shares during the period. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 8.38% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on Formula One Group
Formula One Group Price Performance
Formula One Group stock traded up $0.37 during trading hours on Friday, reaching $70.22. The stock had a trading volume of 70,507 shares, compared to its average volume of 98,067. The company has a market cap of $16.50 billion and a price-to-earnings ratio of 51.26. The business’s 50 day moving average price is $68.24 and its 200-day moving average price is $64.47. Formula One Group has a 52 week low of $55.08 and a 52 week high of $75.50.
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.
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