Formula One Group (NASDAQ:FWONA) Major Shareholder Berkshire Hathaway Inc Buys 219,303 Shares

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc acquired 219,303 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were bought at an average cost of $24.46 per share, with a total value of $5,364,151.38. Following the completion of the transaction, the insider now directly owns 35,182,219 shares in the company, valued at approximately $860,557,076.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

• On Wednesday, April 24th, Berkshire Hathaway Inc acquired 123,388 shares of Formula One Group stock. The shares were bought at an average cost of $25.22 per share, with a total value of $3,111,845.36.
• 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, 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 shares were bought at an average cost 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 shares were 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 acquired 1,250,000 shares of Formula One Group stock. The shares were bought at an average cost of $27.76 per share, with a total value of $34,700,000.00.
• On Wednesday, March 27th, Berkshire Hathaway Inc purchased 189,759 shares of Formula One Group stock. The stock was acquired 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 purchased 199,664 shares of Formula One Group stock. The stock was acquired at an average cost of $28.82 per share, with a total value 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 Up 0.4 %

NASDAQ FWONA opened at $61.63 on Friday. Formula One Group has a 1-year low of $55.08 and a 1-year high of $69.48. The business has a 50 day moving average price of $61.33 and a 200 day moving average price of $59.60.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Formula One Group

Several hedge funds have recently bought and sold shares of FWONA. Janney Montgomery Scott LLC increased its position in Formula One Group by 3.9% during the third quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company’s stock worth $723,000 after buying an additional 481 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in Formula One Group by 38.1% during the fourth 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 in the last quarter. Finally, Strs Ohio increased its position in Formula One Group by 19.1% during the third quarter. Strs Ohio now owns 36,262 shares of the company’s stock worth $2,050,000 after buying an additional 5,812 shares in the last quarter. Hedge funds and other institutional investors own 8.38% of the company’s stock.

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.