Formula One Group (NASDAQ:FWONA) Short Interest Update

Formula One Group (NASDAQ:FWONA - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 288,600 shares, a growth of 23.0% from the March 15th total of 234,600 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 97,000 shares, the days-to-cover ratio is presently 3.0 days.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 213,385 shares of the firm's stock in a transaction on Wednesday, January 24th. The shares were purchased at an average cost of $30.99 per share, with a total value of $6,612,801.15. Following the acquisition, the insider now directly owns 47,332,287 shares in the company, valued at approximately $1,466,827,574.13. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have acquired 6,917,022 shares of company stock valued at $196,723,707. 4.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Kornitzer Capital Management Inc. KS lifted its holdings in Formula One Group by 38.1% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company's stock worth $1,787,000 after acquiring an additional 8,500 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Formula One Group by 3.9% during the third quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company's stock worth $723,000 after acquiring an additional 481 shares during the period. Strs Ohio lifted its holdings in Formula One Group by 19.1% during the third quarter. Strs Ohio now owns 36,262 shares of the company's stock worth $2,050,000 after acquiring an additional 5,812 shares during the period. Geode Capital Management LLC lifted its holdings in Formula One Group by 5.2% during the first quarter. Geode Capital Management LLC now owns 272,763 shares of the company's stock worth $18,412,000 after acquiring an additional 13,483 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Formula One Group by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 72,448 shares of the company's stock worth $4,890,000 after acquiring an additional 228 shares during the period. Institutional investors own 8.38% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $73.00 target price on shares of Formula One Group in a report on Tuesday, April 2nd.

Formula One Group Trading Up 1.1 %

Formula One Group stock traded up $0.64 during mid-day trading on Monday, reaching $60.13. The stock had a trading volume of 75,486 shares, compared to its average volume of 96,432. Formula One Group has a fifty-two week low of $55.08 and a fifty-two week high of $69.48. The stock's 50-day simple moving average is $61.23 and its 200-day simple moving average is $59.54.

Formula One Group (NASDAQ:FWONA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.39). The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion.

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.

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