Formula One Group (NASDAQ:FWONA) Short Interest Down 20.0% in November

Formula One Group (NASDAQ:FWONA) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 288,800 shares, a decrease of 20.0% from the October 31st total of 361,100 shares. Based on an average daily trading volume, of 111,600 shares, the short-interest ratio is currently 2.6 days. Currently, 1.3% of the shares of the stock are short sold.

Insiders Place Their Bets

In other 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 value of $76,109.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea L. Wong sold 1,604 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total transaction of $76,045.64. Following the completion of the sale, the director now owns 5,274 shares in the company, valued at $250,040.34. This represents a 23.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,911 shares of company stock worth $2,403,701 over the last ninety days. Corporate insiders own 4.83% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Formula One Group stock. Lountzis Asset Management LLC purchased a new position in shares of Formula One Group (NASDAQ:FWONA) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 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.

Wall Street Analysts Forecast Growth

Separately, Benchmark restated a “buy” rating and set a $81.00 price target on shares of Formula One Group in a report on Thursday, November 14th.

Formula One Group Stock Down 0.2 %

Shares of FWONA stock traded down $0.19 during trading hours on Friday, hitting $80.90. 86,574 shares of the company’s stock traded hands, compared to its average volume of 102,510. The stock has a market cap of $19.01 billion, a PE ratio of 70.35 and a beta of 0.05. The stock’s 50 day simple moving average is $74.28 and its 200 day simple moving average is $70.53. Formula One Group has a 12 month low of $55.25 and a 12 month high of $82.23.

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.