Short Interest in Liberty Media Formula One Series A (NASDAQ:FWONA) Decreases By 7.4%

Liberty Media Formula One Series A (NASDAQ:FWONA) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 854,900 shares, a drop of 7.4% from the July 31st total of 923,000 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 109,500 shares, the days-to-cover ratio is presently 7.8 days.

Shares of NASDAQ:FWONA traded down $0.32 during trading on Friday, hitting $40.26. The company’s stock had a trading volume of 50,440 shares, compared to its average volume of 64,619. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.49 and a current ratio of 0.49. Liberty Media Formula One Series A has a fifty-two week low of $26.63 and a fifty-two week high of $40.81. The stock’s 50-day moving average price is $38.65 and its two-hundred day moving average price is $36.44. The company has a market capitalization of $9.38 billion, a PE ratio of -61.94 and a beta of 0.91.

Liberty Media Formula One Series A (NASDAQ:FWONA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.33) EPS for the quarter. Liberty Media Formula One Series A had a negative return on equity of 1.64% and a negative net margin of 18.41%. The business had revenue of $620.00 million during the quarter.

In other news, insider Albert E. Rosenthaler sold 3,398 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $28.22, for a total value of $95,891.56. Following the completion of the sale, the insider now directly owns 9,990 shares of the company’s stock, valued at approximately $281,917.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Liberty Media Formula One Series A by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,373,189 shares of the company’s stock worth $85,102,000 after buying an additional 37,865 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Liberty Media Formula One Series A by 0.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 755,492 shares of the company’s stock valued at $25,717,000 after purchasing an additional 2,109 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Liberty Media Formula One Series A by 42.1% during the 2nd quarter. Renaissance Technologies LLC now owns 380,225 shares of the company’s stock valued at $13,635,000 after purchasing an additional 112,700 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Liberty Media Formula One Series A by 2.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 288,803 shares of the company’s stock valued at $10,076,000 after purchasing an additional 6,827 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Liberty Media Formula One Series A by 0.3% during the 2nd quarter. Wells Fargo & Company MN now owns 264,504 shares of the company’s stock valued at $9,485,000 after purchasing an additional 903 shares in the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on the company. Evercore ISI assumed coverage on Liberty Media Formula One Series A in a research report on Thursday, May 23rd. They issued an “outperform” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. raised Liberty Media Formula One Series A from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $38.00 to $50.00 in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $43.50.

About Liberty Media Formula One Series A

Formula One Group operates in the motorsports business. It holds commercial rights for the world championship, a motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company is based in Englewood, Colorado.

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