Formula One Group (NASDAQ:FWONA - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of $0.43 by ($1.46), Zacks reports. The firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.37 billion.
Formula One Group Stock Performance
FWONA traded down $2.41 on Tuesday, hitting $84.09. The company had a trading volume of 163,647 shares, compared to its average volume of 110,026. The stock has a fifty day moving average price of $87.02 and a 200-day moving average price of $79.31. Formula One Group has a 12-month low of $57.43 and a 12-month high of $95.33. The stock has a market capitalization of $20.91 billion, a price-to-earnings ratio of 73.12 and a beta of 0.14.
Insider Buying and Selling at Formula One Group
In related news, CEO Gregory B. Maffei sold 35,463 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $71.53, for a total transaction 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 represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.83% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research analysts have issued reports on FWONA shares. Wells Fargo & Company began coverage on shares of Formula One Group in a report on Monday, February 24th. They set an "underweight" rating and a $83.00 target price on the stock. Seaport Res Ptn cut shares of Formula One Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Finally, Benchmark reiterated a "buy" rating and set a $81.00 target price on shares of Formula One Group in a report on Thursday, November 14th.
Read Our Latest Stock Analysis on Formula One Group
Formula One Group Company Profile
(
Get Free Report)
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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