Formula One Group (NASDAQ:FWONK) Short Interest Update

Formula One Group (NASDAQ:FWONK) was the target 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 volume of 1,190,000 shares, the short-interest ratio is currently 4.0 days.

Analyst Ratings Changes

Several research analysts have recently commented on FWONK shares. Seaport Res Ptn lowered Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. StockNews.com cut shares of Formula One Group from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Morgan Stanley raised Formula One Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $95.00 to $115.00 in a research note on Wednesday, December 18th. Finally, Rosenblatt Securities upped their price target on shares of Formula One Group from $93.00 to $102.00 and gave the company a “buy” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $98.00.

Insider Buying and Selling

In other Formula One Group news, CAO Brian J. Wendling sold 1,094 shares of the stock in a transaction dated Thursday, November 21st. The shares were 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 Formula One Group stock in a transaction 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 completion of the transaction, 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.

Institutional Trading of Formula One Group

A number of hedge funds and other institutional investors have recently bought and sold shares of FWONK. Everence Capital Management Inc. bought a new position in Formula One Group in the 4th quarter worth $827,000. Greenwood Gearhart Inc. raised its holdings in shares of Formula One Group by 8.1% during the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company’s stock worth $13,640,000 after acquiring an additional 13,146 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Formula One Group by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company’s stock valued at $2,560,000 after purchasing an additional 287 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Formula One Group by 3.0% in the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company’s stock valued at $538,000 after acquiring an additional 203 shares during the last quarter. Finally, Lountzis Asset Management LLC lifted its stake in shares of Formula One Group by 17.0% in the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after purchasing an additional 864 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Formula One Group Stock Down 1.3 %

FWONK opened at $97.18 on Wednesday. The stock has a market capitalization of $24.17 billion, a price-to-earnings ratio of 84.51 and a beta of 0.11. Formula One Group has a twelve month low of $64.37 and a twelve month high of $102.33. The firm has a 50 day moving average price of $94.42 and a 200-day moving average price of $84.96.

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.