Formula One Group (NASDAQ:FWONA) Short Interest Update

Formula One Group (NASDAQ:FWONA - Get Free Report) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 272,000 shares, a decrease 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. Currently, 1.2% of the company's stock are sold short.

Wall Street Analyst Weigh In

Several analysts recently commented on FWONA shares. Seaport Res Ptn lowered shares of Formula One Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Benchmark restated a "buy" rating and set a $81.00 target price on shares of Formula One Group in a research report on Thursday, November 14th.

Formula One Group Stock Down 1.3 %

NASDAQ:FWONA traded down $1.08 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. 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 has a 12-month low of $55.86 and a 12-month high of $87.42. The stock has a 50 day moving average price of $80.06 and a 200 day moving average price of $73.48.

Insider Transactions at Formula One Group

In other news, CAO Brian J. Wendling sold 1,094 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory B. Maffei sold 35,463 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,240,785 shares of the company's stock, 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. Corporate insiders own 4.83% of the company's stock.

Institutional Trading of Formula One Group

A hedge fund recently bought a new stake in Formula One Group stock. Lountzis Asset Management LLC bought a new stake in Formula One Group (NASDAQ:FWONA - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,079 shares of the company's stock, valued at approximately $220,000. Hedge funds and other institutional investors 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.

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