Formula One Group (FWONA) Scheduled to Post Earnings on Wednesday

Formula One Group (NASDAQ:FWONA) is scheduled to be announcing its earnings results before the market opens on Wednesday, May 8th. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Formula One Group (NASDAQ:FWONA) last released 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 business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion.

Formula One Group Price Performance

Shares of NASDAQ:FWONA opened at $62.89 on Monday. The company’s 50-day moving average price is $61.45 and its two-hundred day moving average price is $59.63. Formula One Group has a one year low of $55.08 and a one year high of $69.48.

Insider Activity

In other Formula One Group news, major shareholder Berkshire Hathaway Inc acquired 1,188,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $29.39 per share, with a total value of $34,915,320.00. Following the acquisition, the insider now directly owns 50,682,902 shares of the company’s stock, valued at approximately $1,489,570,489.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have purchased 6,457,501 shares of company stock valued at $179,148,132 over the last ninety days. 4.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $73.00 target price on shares of Formula One Group in a research note on Tuesday, April 2nd.

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.