Formula One Group (FWONA) to Release Earnings on Wednesday

Formula One Group (NASDAQ:FWONA) will release its earnings data before the market opens on Wednesday, May 8th. Investors that are interested in participating in the company’s conference call can do so using this link.

Formula One Group (NASDAQ:FWONA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 Stock Up 0.1 %

NASDAQ:FWONA opened at $62.95 on Tuesday. Formula One Group has a twelve month low of $55.08 and a twelve month high of $69.48. The stock’s 50 day moving average price is $61.48 and its two-hundred day moving average price is $59.65.

Insiders Place Their Bets

In other Formula One Group news, major shareholder Berkshire Hathaway Inc acquired 234,194 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $28.77 per share, with a total value of $6,737,761.38. Following the completion of the transaction, the insider now directly owns 48,733,666 shares in the company, valued at approximately $1,402,067,570.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 6,457,501 shares of company stock valued at $179,148,132 over the last 90 days.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $73.00 target price on shares of Formula One Group in a report on Tuesday, April 2nd.

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.