Formula One Group (NASDAQ:FWONK - Get Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,770,000 shares, a growth of 5.3% from the January 15th total of 4,530,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the short-interest ratio is presently 4.0 days.
Formula One Group Price Performance
Shares of NASDAQ:FWONK traded down $1.01 during midday trading on Friday, reaching $96.84. The company had a trading volume of 1,539,121 shares, compared to its average volume of 1,053,377. The stock's fifty day moving average price is $94.74 and its 200-day moving average price is $85.43. The stock has a market capitalization of $24.09 billion, a P/E ratio of 84.21 and a beta of 0.11. Formula One Group has a one year low of $64.37 and a one year high of $102.33.
Insider Activity at Formula One Group
In related news, CEO Gregory B. Maffei sold 35,463 shares of the firm's 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 in the company, valued at approximately $88,753,351.05. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.31% of the stock is currently owned by insiders.
Institutional Trading of Formula One Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its stake in shares of Formula One Group by 1.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock worth $37,529,000 after buying an additional 4,897 shares during the last quarter. Greenwood Gearhart Inc. increased its stake in shares of Formula One Group by 2.7% in the fourth quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock worth $16,764,000 after buying an additional 4,761 shares during the last quarter. Hahn Capital Management LLC increased its stake in shares of Formula One Group by 47.7% in the fourth quarter. Hahn Capital Management LLC now owns 67,197 shares of the company's stock worth $6,226,000 after buying an additional 21,699 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Formula One Group by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock worth $2,560,000 after buying an additional 287 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Formula One Group in the fourth quarter worth $827,000. Institutional investors own 92.26% of the company's stock.
Analyst Ratings Changes
FWONK has been the topic of a number of analyst reports. Morgan Stanley upgraded shares of Formula One Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $95.00 to $115.00 in a research note on Wednesday, December 18th. Seaport Res Ptn lowered shares of Formula One Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of Formula One Group from a "hold" rating to a "sell" rating in a research note on Monday, November 18th. Finally, Rosenblatt Securities lifted their price objective on shares of Formula One Group from $93.00 to $102.00 and gave the company a "buy" rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Formula One Group presently has an average rating of "Hold" and a consensus target price of $98.00.
Read Our Latest Research Report on FWONK
About Formula One Group
(
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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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