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

Formula One Group (NASDAQ:FWONA - Get Free Report) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 328,200 shares, an increase of 20.7% from the December 31st total of 272,000 shares. Based on an average daily trading volume, of 107,400 shares, the days-to-cover ratio is currently 3.1 days. Approximately 1.5% of the shares of the stock are short sold.

Insider Activity

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 value of $76,109.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory B. Maffei sold 35,463 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $71.53, for a total value of $2,536,668.39. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Formula One Group

A number of hedge funds and other institutional investors have recently bought and sold shares of FWONA. FNY Investment Advisers LLC increased its holdings in shares of Formula One Group by 25.6% in the fourth quarter. FNY Investment Advisers LLC now owns 779 shares of the company's stock worth $65,000 after purchasing an additional 159 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Formula One Group by 4.2% in 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. Finally, Lountzis Asset Management LLC bought a new position in shares of Formula One Group in the third quarter worth $220,000. Institutional investors own 8.38% of the company's stock.

Analyst Ratings Changes

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

Formula One Group Stock Performance

NASDAQ FWONA traded up $0.09 during trading hours on Wednesday, hitting $87.89. 46,407 shares of the company traded hands, compared to its average volume of 94,145. The business's 50-day moving average is $84.45 and its 200-day moving average is $76.61. The stock has a market capitalization of $21.86 billion, a price-to-earnings ratio of 76.40 and a beta of 0.14. Formula One Group has a twelve month low of $57.43 and a twelve month high of $89.13.

Formula One Group (NASDAQ:FWONA - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.17. The business had revenue of $848.00 million during the quarter, compared to analyst estimates of $825.00 million. During the same period in the prior year, the business posted $0.39 EPS. Analysts predict that Formula One Group will post 1.46 EPS for the current year.

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.