Formula One Group (NASDAQ:FWONA) Sees Significant Decrease in Short Interest

Formula One Group (NASDAQ:FWONA) was the recipient of a large decline in short interest in 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. Currently, 1.7% of the company’s shares are sold short. Based on an average daily volume of 114,800 shares, the short-interest ratio is currently 3.3 days.

Insider Transactions at Formula One Group

In related news, CAO Brian J. Wendling sold 10,011 shares of Formula One Group stock in a transaction on Friday, September 20th. The shares were sold at an average price of $73.80, for a total transaction of $738,811.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Formula One Group news, CAO Brian J. Wendling sold 10,011 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $73.80, for a total value of $738,811.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Renee L. Wilm sold 19,202 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $78.78, for a total transaction of $1,512,733.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,817 shares of company stock worth $2,327,591. Company 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) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,413 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 8.38% of the company’s stock.

Analyst Ratings Changes

Separately, Benchmark increased their target price on Formula One Group from $77.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Formula One Group Price Performance

Shares of Formula One Group stock traded up $0.17 during trading hours on Thursday, hitting $74.26. 74,904 shares of the company’s stock traded hands, compared to its average volume of 101,779. The stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 54.01 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 company has a fifty day simple moving average of $70.64 and a 200-day simple moving average of $67.29.

Formula One Group (NASDAQ:FWONA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $1.04 billion. On average, analysts forecast that Formula One Group will post 1.23 EPS for the current fiscal year.

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.