Formula One Group (NASDAQ:FWONK) Major Shareholder Berkshire Hathaway Inc Purchases 219,303 Shares

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc acquired 219,303 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was purchased at an average cost of $24.46 per share, with a total value of $5,364,151.38. Following the acquisition, the insider now directly owns 35,182,219 shares of the company’s stock, valued at approximately $860,557,076.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, April 24th, Berkshire Hathaway Inc acquired 123,388 shares of Formula One Group stock. The stock was purchased at an average cost of $25.22 per share, with a total value of $3,111,845.36.
• On Friday, April 12th, Berkshire Hathaway Inc acquired 413,227 shares of Formula One Group stock. The stock was purchased at an average cost of $25.58 per share, with a total value of $10,570,346.66.
• On Wednesday, April 10th, Berkshire Hathaway Inc acquired 513,104 shares of Formula One Group stock. The stock was purchased 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 acquired 938,896 shares of Formula One Group stock. The stock was purchased 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 bought 1,250,000 shares of Formula One Group stock. The shares were bought 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 bought 189,759 shares of Formula One Group stock. The shares were bought 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 bought 199,664 shares of Formula One Group stock. The shares were bought at an average cost of $28.82 per share, with a total value of $5,754,316.48.
• On Thursday, March 21st, Berkshire Hathaway Inc bought 333,916 shares of Formula One Group stock. The shares were bought at an average cost of $28.92 per share, with a total value of $9,656,850.72.
• On Monday, March 11th, Berkshire Hathaway Inc bought 20,609 shares of Formula One Group stock. The shares were bought at an average cost of $29.94 per share, with a total value of $617,033.46.
• On Friday, March 8th, Berkshire Hathaway Inc bought 521,804 shares of Formula One Group stock. The shares were bought at an average cost of $29.86 per share, with a total value of $15,581,067.44.

Formula One Group Stock Up 0.7 %

Shares of FWONK traded up $0.50 during mid-day trading on Friday, hitting $69.43. 751,663 shares of the company’s stock were exchanged, compared to its average volume of 1,069,221. Formula One Group has a fifty-two week low of $60.95 and a fifty-two week high of $78.58. The stock’s 50-day moving average is $68.65 and its 200-day moving average is $66.34.

Formula One Group (NASDAQ:FWONK) last issued its earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.06). The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Analysts forecast that Formula One Group will post 0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Formula One Group from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th.

Institutional Trading of Formula One Group

Hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in Formula One Group in the fourth quarter valued at approximately $1,167,000. Russell Investments Group Ltd. increased its stake in Formula One Group by 156.3% in the fourth quarter. Russell Investments Group Ltd. now owns 71,618 shares of the company’s stock valued at $4,522,000 after purchasing an additional 43,675 shares during the last quarter. Norman Fields Gottscho Capital Management LLC increased its stake in Formula One Group by 7.0% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 107,922 shares of the company’s stock valued at $6,813,000 after purchasing an additional 7,037 shares during the last quarter. Finally, Greenwood Gearhart Inc. increased its stake in Formula One Group by 6.1% in the third quarter. Greenwood Gearhart Inc. now owns 174,111 shares of the company’s stock valued at $10,848,000 after purchasing an additional 9,992 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

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.