Short Interest in Formula One Group (NASDAQ:FWONA) Grows By 20.7%

Formula One Group (NASDAQ:FWONA) saw a large increase in short interest during 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. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 107,400 shares, the days-to-cover ratio is currently 3.1 days.

Formula One Group Stock Performance

NASDAQ FWONA opened at $83.28 on Friday. Formula One Group has a twelve month low of $56.28 and a twelve month high of $87.42. The stock has a market cap of $20.71 billion, a PE ratio of 72.42 and a beta of 0.13. The firm has a 50-day simple moving average of $82.31 and a 200 day simple moving average of $75.06.

Insider Transactions at Formula One Group

In other news, 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 value of $2,536,668.39. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian J. Wendling sold 1,094 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $69.57, for a total transaction of $76,109.58. The disclosure for this sale can be found here.

Institutional Trading of Formula One Group

Institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC boosted its stake in Formula One Group by 25.6% during the fourth quarter. FNY Investment Advisers LLC now owns 779 shares of the company’s stock worth $65,000 after buying an additional 159 shares in the last quarter. Lountzis Asset Management LLC acquired a new position in Formula One Group in the third quarter worth about $220,000. Finally, Integrated Wealth Concepts LLC lifted its stake in Formula One Group by 4.2% during the third quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company’s stock worth $534,000 after purchasing an additional 300 shares during the period. 8.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FWONA has been the subject of a number of recent analyst reports. Seaport Res Ptn cut shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Benchmark reissued a “buy” rating and set a $81.00 price objective on shares of Formula One Group in a research report on Thursday, November 14th.

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.