Formula One Group (NASDAQ:FWONA) Posts Quarterly Earnings Results, Misses Estimates By $1.46 EPS

Formula One Group (NASDAQ:FWONA) posted 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.37 billion.

Formula One Group Trading Up 4.1 %

Shares of NASDAQ:FWONA traded up $3.42 during trading on Friday, reaching $87.43. The company’s stock had a trading volume of 112,955 shares, compared to its average volume of 104,839. The stock has a market capitalization of $21.74 billion, a PE ratio of 75.93 and a beta of 0.14. Formula One Group has a 12 month low of $57.43 and a 12 month high of $95.33. The firm’s 50 day simple moving average is $86.95 and its two-hundred day simple moving average is $78.82.

Analyst Ratings Changes

FWONA has been the topic of several analyst reports. Seaport Res Ptn cut shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Benchmark reaffirmed a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a report on Thursday, November 14th. Finally, Wells Fargo & Company assumed coverage on Formula One Group in a report on Monday. They set an “underweight” rating and a $83.00 price target for the company.

Insider Transactions at Formula One Group

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

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.