Formula One Group (NASDAQ:FWONA) Major Shareholder Berkshire Hathaway Inc Acquires 311,637 Shares of Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc bought 311,637 shares of the company’s stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $25.47 per share, with a total value of $7,937,394.39. Following the completion of the acquisition, the insider now owns 70,002,897 shares of the company’s stock, valued at approximately $1,782,973,786.59. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% 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 Wednesday, April 24th, Berkshire Hathaway Inc bought 123,388 shares of Formula One Group stock. The stock was bought 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 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 bought 513,104 shares of Formula One Group stock. The stock was bought 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 bought 938,896 shares of Formula One Group stock. The stock was bought 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 acquired 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 acquired 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 acquired 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 acquired 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 acquired 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.

Formula One Group Stock Performance

Shares of NASDAQ FWONA opened at $63.01 on Thursday. Formula One Group has a 1 year low of $55.08 and a 1 year high of $69.48. The firm’s 50 day moving average price is $61.39 and its 200 day moving average price is $59.63.

Formula One Group (NASDAQ:FWONA) last announced its 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 company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion.

Analyst Ratings Changes

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

Institutional Trading of Formula One Group

Hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings 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 valued at $723,000 after purchasing an additional 481 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings 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 valued at $1,787,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Strs Ohio boosted its holdings 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 valued at $2,050,000 after purchasing an additional 5,812 shares during the last quarter. Institutional investors and hedge funds own 8.38% of the company’s stock.

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.