Formula One Group (NASDAQ:FWONA) Short Interest Update

Formula One Group (NASDAQ:FWONA) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 328,200 shares, an increase of 20.7% from the December 15th total of 272,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 107,400 shares, the days-to-cover ratio is currently 3.1 days.

Formula One Group Stock Up 1.5 %

FWONA stock traded up $1.20 during trading on Friday, hitting $83.28. The company had a trading volume of 55,483 shares, compared to its average volume of 87,206. The firm has a 50-day moving average price of $82.31 and a 200-day moving average price of $75.06. Formula One Group has a 12 month low of $56.28 and a 12 month high of $87.42. The stock has a market cap of $20.71 billion, a price-to-earnings ratio of 72.42 and a beta of 0.13.

Insider Activity at Formula One Group

In other news, CAO Brian J. Wendling sold 1,094 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $69.57, for a total transaction of $76,109.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory B. Maffei sold 35,463 shares of Formula One Group stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the completion of the transaction, the chief executive officer now owns 1,240,785 shares of the company’s stock, valued at $88,753,351.05. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Formula One Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC grew its position in shares of Formula One Group by 25.6% during the 4th quarter. FNY Investment Advisers LLC now owns 779 shares of the company’s stock worth $65,000 after buying an additional 159 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Formula One Group by 4.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company’s stock worth $534,000 after acquiring an additional 300 shares during the period. Finally, Lountzis Asset Management LLC bought a new stake in shares of Formula One Group during the 3rd quarter valued at $220,000. Institutional investors own 8.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FWONA shares. Seaport Res Ptn lowered Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Benchmark restated a “buy” rating and issued a $81.00 price objective on shares of Formula One Group in a research report on Thursday, November 14th.

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.