Formula One Group (NASDAQ:FWONA) Issues Quarterly Earnings Results

Formula One Group (NASDAQ:FWONA) posted its earnings results 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 during the quarter, compared to the consensus estimate of $1.37 billion.

Formula One Group Trading Up 3.9 %

NASDAQ:FWONA traded up $3.27 on Friday, hitting $87.28. 149,305 shares of the company’s stock traded hands, compared to its average volume of 105,633. The firm has a 50-day moving average price of $86.95 and a 200-day moving average price of $78.82. The company has a market cap of $21.71 billion, a PE ratio of 76.03 and a beta of 0.14. Formula One Group has a 1 year low of $57.43 and a 1 year high of $95.33.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

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.