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

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc acquired 311,637 shares of the business’s stock in a transaction on Monday, April 29th. The stock was acquired at an average price of $25.47 per share, for a total transaction of $7,937,394.39. Following the acquisition, the insider now owns 70,002,897 shares of the company’s stock, valued at approximately $1,782,973,786.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major 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 acquired 219,303 shares of Formula One Group stock. The stock was acquired at an average price of $24.46 per share, for a total transaction of $5,364,151.38.
• On Wednesday, April 24th, Berkshire Hathaway Inc acquired 123,388 shares of Formula One Group stock. The stock was acquired at an average price of $25.22 per share, for a total transaction of $3,111,845.36.
• On Friday, April 12th, Berkshire Hathaway Inc bought 413,227 shares of Formula One Group stock. The stock was purchased at an average price of $25.58 per share, for a total transaction of $10,570,346.66.
• On Wednesday, April 10th, Berkshire Hathaway Inc bought 513,104 shares of Formula One Group stock. The stock was purchased at an average price of $25.96 per share, for a total transaction of $13,320,179.84.
• On Monday, April 8th, Berkshire Hathaway Inc bought 938,896 shares of Formula One Group stock. The stock was purchased at an average price of $26.98 per share, for a total transaction of $25,331,414.08.
• On Thursday, April 4th, Berkshire Hathaway Inc bought 1,250,000 shares of Formula One Group stock. The stock was purchased at an average price of $27.76 per share, for a total transaction of $34,700,000.00.
• On Wednesday, March 27th, Berkshire Hathaway Inc bought 189,759 shares of Formula One Group stock. The stock was purchased at an average price of $29.25 per share, for a total transaction of $5,550,450.75.
• On Monday, March 25th, Berkshire Hathaway Inc bought 199,664 shares of Formula One Group stock. The stock was purchased at an average price of $28.82 per share, for a total transaction of $5,754,316.48.
• On Thursday, March 21st, Berkshire Hathaway Inc bought 333,916 shares of Formula One Group stock. The stock was purchased at an average price of $28.92 per share, for a total transaction of $9,656,850.72.
• On Monday, March 11th, Berkshire Hathaway Inc acquired 20,609 shares of Formula One Group stock. The shares were bought at an average price of $29.94 per share, for a total transaction of $617,033.46.

Formula One Group Stock Performance

Shares of Formula One Group stock opened at $70.33 on Thursday. The company’s 50 day moving average is $68.78 and its 200 day moving average is $66.38. Formula One Group has a twelve month low of $60.95 and a twelve month high of $78.58.

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

Wall Street Analysts Forecast Growth

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

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.