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

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc purchased 123,388 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were acquired at an average price of $25.22 per share, for a total transaction of $3,111,845.36. Following the purchase, the insider now directly owns 34,805,607 shares of the company’s stock, valued at $877,797,408.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 purchased 219,303 shares of Formula One Group stock. The shares were acquired at an average price of $24.46 per share, for a total transaction of $5,364,151.38.
• 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 purchased 333,916 shares of Formula One Group stock. The stock was 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 stock was 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 purchased 521,804 shares of Formula One Group stock. The stock was acquired at an average cost of $29.86 per share, with a total value of $15,581,067.44.

Formula One Group Stock Performance

NASDAQ:FWONK traded up $0.50 on Friday, hitting $69.43. 751,663 shares of the stock were exchanged, compared to its average volume of 1,069,221. Formula One Group has a 52 week low of $60.95 and a 52 week high of $78.58. The company’s 50-day moving average price is $68.65 and its 200 day moving average price is $66.34.

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

Hedge Funds Weigh In On Formula One Group

Several institutional investors have recently modified their holdings of the stock. Norman Fields Gottscho Capital Management LLC grew its position in shares of Formula One Group by 7.0% in the 4th 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 period. Greenwood Gearhart Inc. grew its position in shares of Formula One Group by 6.1% in the 3rd 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 period. Janney Montgomery Scott LLC acquired a new position in shares of Formula One Group in the 4th quarter valued at approximately $1,167,000. Finally, Russell Investments Group Ltd. grew its position in shares of Formula One Group by 156.3% in the 4th 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 period. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut 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.