Short Interest in Formula One Group (NASDAQ:FWONA) Declines By 8.5%

Formula One Group (NASDAQ:FWONA - Get Free Report) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 383,100 shares, a decline of 8.5% from the September 15th total of 418,700 shares. Based on an average daily trading volume, of 114,800 shares, the short-interest ratio is presently 3.3 days. Approximately 1.7% of the shares of the company are short sold.

Formula One Group Trading Up 0.2 %

Shares of Formula One Group stock traded up $0.17 during trading on Thursday, hitting $74.26. The stock had a trading volume of 74,904 shares, compared to its average volume of 101,779. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 54.20 and a beta of 0.09. Formula One Group has a 12 month low of $55.25 and a 12 month high of $75.50. The business's 50-day moving average is $70.78 and its 200 day moving average is $67.34.

Formula One Group (NASDAQ:FWONA - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.24). The firm had revenue of $853.00 million for the quarter, compared to analysts' expectations of $1.04 billion. As a group, equities analysts expect that Formula One Group will post 1.23 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Benchmark upped their price objective on Formula One Group from $77.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, August 9th.

Insider Transactions at Formula One Group

In other news, Director Andrea L. Wong sold 1,604 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the transaction, the director now owns 5,274 shares in the company, valued at $250,040.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Andrea L. Wong sold 1,604 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the transaction, the director now owns 5,274 shares in the company, valued at $250,040.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Renee L. Wilm sold 19,202 shares of the company's stock in a transaction that occurred on 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. Insiders have sold 30,817 shares of company stock worth $2,327,591 in the last 90 days. Insiders own 4.83% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC raised its holdings in shares of Formula One Group (NASDAQ:FWONA - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,413 shares of the company's stock after buying an additional 1,600 shares during the period. Janney Montgomery Scott LLC's holdings in Formula One Group were worth $788,000 at the end of the most recent reporting period. 8.38% of the stock is owned by 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.