Formula One Group (NASDAQ:FWONA) Major Shareholder Berkshire Hathaway Inc Buys 413,227 Shares

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc purchased 413,227 shares of Formula One Group stock in a transaction that occurred on Friday, April 12th. The stock was acquired at an average cost of $25.58 per share, with a total value of $10,570,346.66. Following the acquisition, the insider now directly owns 69,044,244 shares in the company, valued at approximately $1,766,151,761.52. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

• On Wednesday, April 10th, Berkshire Hathaway Inc purchased 513,104 shares of Formula One Group stock. The stock was acquired at an average cost of $25.96 per share, with a total value of $13,320,179.84.
• On Monday, April 8th, Berkshire Hathaway Inc purchased 938,896 shares of Formula One Group stock. The stock was acquired at an average cost of $26.98 per share, with a total value of $25,331,414.08.
• On Thursday, April 4th, Berkshire Hathaway Inc purchased 1,250,000 shares of Formula One Group stock. The stock was acquired at an average cost of $27.76 per share, with a total value of $34,700,000.00.
• On Wednesday, March 27th, Berkshire Hathaway Inc purchased 189,759 shares of Formula One Group stock. The stock was acquired at an average cost of $29.25 per share, with a total value of $5,550,450.75.
• On Monday, March 25th, Berkshire Hathaway Inc acquired 199,664 shares of Formula One Group stock. The shares were purchased at an average price of $28.82 per share, with a total value of $5,754,316.48.
• On Thursday, March 21st, Berkshire Hathaway Inc acquired 333,916 shares of Formula One Group stock. The shares were purchased at an average price of $28.92 per share, with a total value of $9,656,850.72.
• On Monday, March 11th, Berkshire Hathaway Inc acquired 20,609 shares of Formula One Group stock. The shares were purchased at an average price of $29.94 per share, with a total value of $617,033.46.
• On Friday, March 8th, Berkshire Hathaway Inc acquired 521,804 shares of Formula One Group stock. The shares were purchased at an average price of $29.86 per share, with a total value of $15,581,067.44.
• On Wednesday, March 6th, Berkshire Hathaway Inc acquired 1,188,000 shares of Formula One Group stock. The shares were purchased at an average price of $29.39 per share, with a total value of $34,915,320.00.
• On Monday, March 4th, Berkshire Hathaway Inc acquired 234,194 shares of Formula One Group stock. The shares were purchased at an average price of $28.77 per share, with a total value of $6,737,761.38.

Formula One Group Price Performance

Shares of FWONA stock traded down $1.74 during trading hours on Friday, reaching $59.49. The company had a trading volume of 63,755 shares, compared to its average volume of 96,728. The stock has a fifty day moving average of $61.23 and a 200-day moving average of $59.46. Formula One Group has a 12-month low of $55.08 and a 12-month high of $69.48.

Formula One Group (NASDAQ:FWONA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.39). The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion.

Institutional Investors Weigh In On Formula One Group

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Formula One Group by 5.2% in the first quarter. Geode Capital Management LLC now owns 272,763 shares of the company’s stock valued at $18,412,000 after purchasing an additional 13,483 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Formula One Group by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 72,448 shares of the company’s stock valued at $4,890,000 after acquiring an additional 228 shares during the last quarter. Strs Ohio lifted its holdings in Formula One Group by 19.1% in the third quarter. Strs Ohio now owns 36,262 shares of the company’s stock valued at $2,050,000 after acquiring an additional 5,812 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in Formula One Group by 38.1% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company’s stock valued at $1,787,000 after acquiring an additional 8,500 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Formula One Group by 3.9% in the third quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company’s stock valued at $723,000 after acquiring an additional 481 shares during the last quarter. 8.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $73.00 price objective on shares of Formula One Group in a research note 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.