Formula One Group (NASDAQ:FWONA) Issues Earnings Results

Formula One Group (NASDAQ:FWONA) released its quarterly earnings data on Thursday. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($1.46), Zacks reports. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.37 billion.

Formula One Group Trading Up 4.1 %

NASDAQ:FWONA traded up $3.42 during trading hours on Friday, reaching $87.43. 112,955 shares of the company traded hands, compared to its average volume of 104,839. The business’s 50-day moving average price is $86.95 and its two-hundred day moving average price is $78.82. Formula One Group has a 1 year low of $57.43 and a 1 year high of $95.33. The stock has a market capitalization of $21.74 billion, a P/E ratio of 75.93 and a beta of 0.14.

Insider Transactions at Formula One Group

In other Formula One Group news, CEO Gregory B. Maffei sold 35,463 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the sale, the chief executive officer now directly owns 1,240,785 shares in the company, valued at approximately $88,753,351.05. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Seaport Res Ptn downgraded Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company started coverage on shares of Formula One Group in a research report on Monday. They set an “underweight” rating and a $83.00 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a research report on Thursday, November 14th.

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.