Formula One Group (NASDAQ:FWONA) Sees Large Growth in Short Interest

Formula One Group (NASDAQ:FWONA) saw a large increase in short interest in the month of 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. Based on an average trading volume of 107,400 shares, the short-interest ratio is presently 3.1 days. Currently, 1.5% of the shares of the stock are sold short.

Formula One Group Trading Up 1.5 %

NASDAQ FWONA opened at $83.28 on Friday. Formula One Group has a 1 year low of $56.28 and a 1 year high of $87.42. The company has a market cap of $20.71 billion, a PE ratio of 72.42 and a beta of 0.13. The stock’s 50-day moving average price is $82.31 and its two-hundred day moving average price is $75.06.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Formula One Group

In related news, CAO Brian J. Wendling sold 1,094 shares of Formula One Group stock in a transaction dated Thursday, November 21st. The stock was 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 SEC, which is available through this hyperlink. Also, CEO Gregory B. Maffei sold 35,463 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the completion of the sale, the chief executive officer now owns 1,240,785 shares in the company, valued at approximately $88,753,351.05. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Formula One Group

A number of large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC grew its holdings in shares of Formula One Group by 25.6% during the fourth quarter. FNY Investment Advisers LLC now owns 779 shares of the company’s stock valued at $65,000 after buying an additional 159 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position 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 acquired a new stake in Formula One Group during the 3rd quarter worth about $220,000. Institutional investors and hedge funds own 8.38% of the company’s stock.

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.