Berkshire Hathaway Inc Purchases 123,388 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc bought 123,388 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $25.22 per share, with a total value of $3,111,845.36. Following the purchase, the insider now owns 34,805,607 shares of the company’s stock, valued at $877,797,408.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% 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 Friday, April 26th, Berkshire Hathaway Inc acquired 219,303 shares of Formula One Group stock. The stock was bought at an average price of $24.46 per share, with a total value of $5,364,151.38.
• On Friday, April 12th, Berkshire Hathaway Inc acquired 413,227 shares of Formula One Group stock. The stock was bought at an average price 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 bought at an average price 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 bought at an average price 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 stock was bought at an average price 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 stock was bought at an average price 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 stock was bought 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 bought 333,916 shares of Formula One Group stock. The shares were acquired 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 bought 20,609 shares of Formula One Group stock. The shares were acquired at an average price 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 acquired at an average price of $29.86 per share, with a total value of $15,581,067.44.

Formula One Group Stock Up 0.7 %

Shares of FWONK stock opened at $69.43 on Friday. The business’s fifty day moving average is $68.65 and its 200 day moving average is $66.33. 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 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 during the quarter, compared to the consensus estimate of $1.25 billion. Analysts forecast that Formula One Group will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Formula One Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in Formula One Group in the fourth quarter worth $1,167,000. Russell Investments Group Ltd. grew its stake in shares of Formula One Group by 156.3% in the fourth quarter. Russell Investments Group Ltd. now owns 71,618 shares of the company’s stock worth $4,522,000 after acquiring an additional 43,675 shares during the last quarter. Norman Fields Gottscho Capital Management LLC grew its stake in shares of 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 worth $6,813,000 after acquiring an additional 7,037 shares during the last quarter. Finally, Greenwood Gearhart Inc. grew 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 acquiring an additional 9,992 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.