Formula One Group (NASDAQ:FWONA) Short Interest Up 6.8% in April

Formula One Group (NASDAQ:FWONA - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 308,200 shares, an increase of 6.8% from the March 31st total of 288,600 shares. Based on an average daily trading volume, of 100,100 shares, the days-to-cover ratio is currently 3.1 days. Currently, 1.4% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

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

Formula One Group Price Performance

Shares of NASDAQ:FWONA traded up $0.74 during trading hours on Wednesday, hitting $63.01. The stock had a trading volume of 71,174 shares, compared to its average volume of 94,322. The stock's fifty day simple moving average is $61.35 and its 200 day simple moving average is $59.60. Formula One Group has a 1-year low of $55.08 and a 1-year high of $69.48.

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

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 1,250,000 shares of the business's stock in a transaction on Thursday, April 4th. The shares were bought at an average cost of $27.76 per share, with a total value of $34,700,000.00. Following the completion of the transaction, the insider now directly owns 66,736,288 shares of the company's stock, valued at approximately $1,852,599,354.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 6,145,864 shares of company stock worth $171,210,738 over the last ninety days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FWONA. Kornitzer Capital Management Inc. KS raised 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 purchasing an additional 8,500 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Formula One Group by 3.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company's stock worth $723,000 after buying an additional 481 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of Formula One Group by 19.1% in the third quarter. Strs Ohio now owns 36,262 shares of the company's stock valued at $2,050,000 after buying an additional 5,812 shares during the period. 8.38% of the stock is currently owned by institutional investors.

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.

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