Insider Buying: Formula One Group (NASDAQ:FWONA) Major Shareholder Buys 123,388 Shares of Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc bought 123,388 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was bought at an average cost of $25.22 per share, with a total value of $3,111,845.36. Following the completion of the acquisition, the insider now owns 34,805,607 shares in the company, valued at approximately $877,797,408.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, April 26th, Berkshire Hathaway Inc bought 219,303 shares of Formula One Group stock. The stock was bought at an average cost of $24.46 per share, with a total value of $5,364,151.38.
• On Friday, April 12th, Berkshire Hathaway Inc bought 413,227 shares of Formula One Group stock. The stock was bought 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 purchased 513,104 shares of Formula One Group stock. The shares were 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 shares were 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 shares were 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 shares were 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 purchased 199,664 shares of Formula One Group stock. The shares were acquired 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 purchased 333,916 shares of Formula One Group stock. The shares were acquired 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 purchased 20,609 shares of Formula One Group stock. The shares were acquired 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 stock was purchased at an average cost of $29.86 per share, with a total value of $15,581,067.44.

Formula One Group Stock Up 0.4 %

Shares of NASDAQ FWONA traded up $0.24 during midday trading on Friday, hitting $61.63. The stock had a trading volume of 109,844 shares, compared to its average volume of 95,067. The company’s 50-day simple moving average is $61.33 and its 200 day simple moving average is $59.60. Formula One Group has a fifty-two week low of $55.08 and a fifty-two week high of $69.48.

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 firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its position in shares of Formula One Group by 3.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company’s stock worth $723,000 after purchasing an additional 481 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of Formula One Group by 38.1% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company’s stock worth $1,787,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of Formula One Group by 19.1% in the 3rd quarter. Strs Ohio now owns 36,262 shares of the company’s stock worth $2,050,000 after purchasing an additional 5,812 shares during the last quarter. 8.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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.