Formula One Group (NASDAQ:FWONA) Short Interest Update

Formula One Group (NASDAQ:FWONA) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 272,000 shares, a decline of 7.9% from the November 30th total of 295,200 shares. Based on an average daily volume of 114,700 shares, the short-interest ratio is presently 2.4 days. Approximately 1.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a research report on Thursday, November 14th. Seaport Res Ptn downgraded shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th.

Insider Buying and Selling

In related news, CAO Brian J. Wendling sold 1,094 shares of the 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory B. Maffei sold 35,463 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,240,785 shares of the company’s stock, valued at approximately $88,753,351.05. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.83% of the company’s stock.

Institutional Trading of Formula One Group

An institutional investor recently raised its position in Formula One Group stock. Integrated Wealth Concepts LLC grew its position in Formula One Group (NASDAQ:FWONA) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,462 shares of the company’s stock after purchasing an additional 300 shares during the period. Integrated Wealth Concepts LLC’s holdings in Formula One Group were worth $534,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.38% of the company’s stock.

Formula One Group Trading Down 1.3 %

Formula One Group stock traded down $1.08 during mid-day trading on Wednesday, reaching $84.04. The company’s stock had a trading volume of 90,387 shares, compared to its average volume of 104,704. Formula One Group has a twelve month low of $55.86 and a twelve month high of $87.42. The business has a 50 day moving average price of $80.06 and a 200-day moving average price of $73.48. The firm has a market cap of $20.90 billion, a price-to-earnings ratio of 73.08 and a beta of 0.18.

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.