Formula One Group (NASDAQ:FWONA) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 848,400 shares, a decrease of 15.0% from the March 31st total of 998,400 shares. Approximately 3.5% of the company's stock are short sold. Based on an average daily trading volume, of 145,400 shares, the short-interest ratio is currently 5.8 days.
Hedge funds have recently modified their holdings of the stock. Royal London Asset Management Ltd. bought a new position in Formula One Group in the fourth quarter worth $30,000. FNY Investment Advisers LLC lifted its holdings in shares of Formula One Group by 180.0% during the fourth quarter. FNY Investment Advisers LLC now owns 1,400 shares of the company's stock valued at $53,000 after acquiring an additional 900 shares during the period. UBS Asset Management Americas Inc. bought a new position in shares of Formula One Group during the fourth quarter valued at $390,000. Strs Ohio lifted its holdings in shares of Formula One Group by 21.3% during the third quarter. Strs Ohio now owns 32,026 shares of the company's stock valued at $1,073,000 after acquiring an additional 5,615 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Formula One Group by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 78,533 shares of the company's stock valued at $2,982,000 after acquiring an additional 1,527 shares during the period. 9.81% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on FWONA. Deutsche Bank Aktiengesellschaft increased their price target on Formula One Group from $41.00 to $45.00 and gave the company a "hold" rating in a report on Tuesday, April 6th. Citigroup increased their price target on Formula One Group from $40.00 to $46.00 in a report on Thursday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of "Buy" and a consensus target price of $45.40.
Shares of Formula One Group stock opened at $41.34 on Tuesday. The company's fifty day simple moving average is $40.24 and its 200-day simple moving average is $38.36. The company has a market cap of $9.58 billion, a price-to-earnings ratio of -12.53 and a beta of 1.27. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.72. Formula One Group has a 1 year low of $26.00 and a 1 year high of $42.87.
Formula One Group (NASDAQ:FWONA) last announced its quarterly earnings data on Thursday, February 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.17. The business had revenue of $485.00 million for the quarter. Formula One Group had a negative net margin of 64.67% and a negative return on equity of 3.51%. As a group, research analysts forecast that Formula One Group will post -4.94 earnings per share for the current fiscal year.
Formula One Group Company Profile
Formula One Group engages in the motorsports business. It holds commercial rights for the 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. The company was founded in 1950 and is based in Englewood, Colorado.
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