Short Interest in Formula One Group (NASDAQ:FWONA) Drops By 20.0%

Formula One Group (NASDAQ:FWONA) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 288,800 shares, a decline of 20.0% from the October 31st total of 361,100 shares. Based on an average trading volume of 111,600 shares, the short-interest ratio is currently 2.6 days. Currently, 1.3% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “buy” rating and set a $81.00 target price on shares of Formula One Group in a report on Thursday, November 14th.

Formula One Group Stock Performance

FWONA traded down $0.19 on Friday, reaching $80.90. The company had a trading volume of 86,574 shares, compared to its average volume of 102,510. The stock has a market cap of $19.01 billion, a P/E ratio of 70.35 and a beta of 0.05. Formula One Group has a fifty-two week low of $55.25 and a fifty-two week high of $82.23. The company’s fifty day moving average is $74.28 and its 200 day moving average is $70.53.

Insiders Place Their Bets

In other Formula One Group news, CAO Brian J. Wendling sold 10,011 shares of Formula One Group stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $73.80, for a total value of $738,811.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $78.78, for a total value of $1,512,733.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,911 shares of company stock worth $2,403,701. Corporate insiders own 4.83% of the company’s stock.

Institutional Investors Weigh In On Formula One Group

An institutional investor recently bought a new position in Formula One Group stock. Lountzis Asset Management LLC purchased a new position in shares of Formula One Group (NASDAQ:FWONA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,079 shares of the company’s stock, valued at approximately $220,000. 8.38% of the stock is currently owned by hedge funds and other institutional investors.

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.