Berkshire Hathaway Inc Acquires 513,104 Shares of Formula One Group (NASDAQ:FWONA) Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc bought 513,104 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average cost of $25.96 per share, for a total transaction of $13,320,179.84. Following the purchase, the insider now owns 68,423,017 shares of the company’s stock, valued at $1,776,261,521.32. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 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 12th, Berkshire Hathaway Inc acquired 413,227 shares of Formula One Group stock. The shares were bought at an average cost of $25.58 per share, for a total transaction of $10,570,346.66.
• 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 purchased 1,250,000 shares of Formula One Group stock. The stock was bought 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 acquired 189,759 shares of Formula One Group stock. The shares were bought 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 bought 199,664 shares of Formula One Group stock. The stock was purchased at an average cost of $28.82 per share, for a total transaction of $5,754,316.48.
• On Thursday, March 21st, Berkshire Hathaway Inc acquired 333,916 shares of Formula One Group stock. The shares were purchased 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 shares were 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 bought 521,804 shares of Formula One Group stock. The stock was acquired at an average price of $29.86 per share, with a total value of $15,581,067.44.
• On Wednesday, March 6th, Berkshire Hathaway Inc bought 1,188,000 shares of Formula One Group stock. The stock was bought at an average cost of $29.39 per share, with a total value of $34,915,320.00.
• On Monday, March 4th, Berkshire Hathaway Inc acquired 234,194 shares of Formula One Group stock. The stock was bought at an average price of $28.77 per share, with a total value of $6,737,761.38.

Formula One Group Stock Down 2.8 %

FWONA opened at $59.49 on Friday. The company has a fifty day moving average price of $61.23 and a two-hundred day moving average price of $59.51. Formula One Group has a 52 week low of $55.08 and a 52 week high of $69.48.

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

Hedge Funds Weigh In On Formula One Group

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Formula One Group by 5.2% in the first quarter. Geode Capital Management LLC now owns 272,763 shares of the company’s stock worth $18,412,000 after acquiring an additional 13,483 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of 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 valued at $4,890,000 after purchasing an additional 228 shares during the period. Strs Ohio grew its position 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 period. Kornitzer Capital Management Inc. KS raised its holdings in Formula One Group by 38.1% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company’s stock worth $1,787,000 after buying an additional 8,500 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Formula One Group by 3.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company’s stock worth $723,000 after buying an additional 481 shares during the period. 8.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.