Berkshire Hathaway Inc Purchases 413,227 Shares of Formula One Group (NASDAQ:FWONA) Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc bought 413,227 shares of the stock in a transaction dated Friday, April 12th. The stock was bought at an average cost of $25.58 per share, with a total value of $10,570,346.66. Following the purchase, the insider now owns 69,044,244 shares in the company, valued at approximately $1,766,151,761.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through 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 Wednesday, April 10th, Berkshire Hathaway Inc purchased 513,104 shares of Formula One Group stock. The shares were acquired 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 purchased 20,609 shares of Formula One Group stock. The stock was bought at an average price of $29.94 per share, for a total transaction of $617,033.46.
• On Friday, March 8th, Berkshire Hathaway Inc purchased 521,804 shares of Formula One Group stock. The stock was bought at an average price of $29.86 per share, for a total transaction of $15,581,067.44.
• On Wednesday, March 6th, Berkshire Hathaway Inc purchased 1,188,000 shares of Formula One Group stock. The stock was bought at an average price of $29.39 per share, for a total transaction of $34,915,320.00.
• On Monday, March 4th, Berkshire Hathaway Inc acquired 234,194 shares of Formula One Group stock. The stock was acquired at an average cost of $28.77 per share, for a total transaction of $6,737,761.38.

Formula One Group Stock Down 2.8 %

Shares of Formula One Group stock opened at $59.49 on Friday. Formula One Group has a one year low of $55.08 and a one year high of $69.48. The stock’s fifty day moving average is $61.23 and its 200 day moving average is $59.48.

Formula One Group (NASDAQ:FWONA) last announced its earnings results on Wednesday, February 28th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.39). The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion.

Hedge Funds Weigh In On Formula One Group

Institutional investors have recently bought and sold shares of the stock. MetLife Investment Management LLC purchased a new stake in Formula One Group in the 1st quarter worth $30,000. Brown Brothers Harriman & Co. increased its stake in Formula One Group by 31.4% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,752 shares of the company’s stock worth $111,000 after buying an additional 419 shares in the last quarter. Fred Alger Management LLC purchased a new stake in Formula One Group in the 3rd quarter worth $38,000. Geode Capital Management LLC increased its stake in Formula One Group by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 259,280 shares of the company’s stock worth $13,853,000 after buying an additional 23,691 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Formula One Group by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 72,448 shares of the company’s stock worth $4,890,000 after buying an additional 228 shares in the last quarter. 8.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.