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

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc purchased 219,303 shares of Formula One Group stock in a transaction that occurred on Friday, April 26th. The shares were bought at an average cost of $24.46 per share, for a total transaction of $5,364,151.38. Following the transaction, the insider now directly owns 35,182,219 shares of the company’s stock, valued at $860,557,076.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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 Wednesday, April 24th, Berkshire Hathaway Inc purchased 123,388 shares of Formula One Group stock. The shares were bought at an average cost of $25.22 per share, for a total transaction of $3,111,845.36.
• On Friday, April 12th, Berkshire Hathaway Inc purchased 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 Wednesday, April 10th, Berkshire Hathaway Inc purchased 513,104 shares of Formula One Group stock. The shares were bought at an average cost of $25.96 per share, for a total transaction of $13,320,179.84.
• On Monday, April 8th, Berkshire Hathaway Inc purchased 938,896 shares of Formula One Group stock. The shares were bought at an average cost of $26.98 per share, for a total transaction of $25,331,414.08.
• On Thursday, April 4th, Berkshire Hathaway Inc purchased 1,250,000 shares of Formula One Group stock. The shares were bought at an average cost 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 acquired 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 bought 199,664 shares of Formula One Group stock. The shares were acquired 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 Trading Up 0.7 %

Shares of FWONK opened at $69.43 on Friday. Formula One Group has a 52 week low of $60.95 and a 52 week high of $78.58. The stock has a fifty day moving average of $68.65 and a 200-day moving average of $66.34.

Formula One Group (NASDAQ:FWONK) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts predict that Formula One Group will post 0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new position in Formula One Group during the 4th quarter worth $1,167,000. Russell Investments Group Ltd. raised its position in Formula One Group by 156.3% during the 4th quarter. Russell Investments Group Ltd. now owns 71,618 shares of the company’s stock worth $4,522,000 after purchasing an additional 43,675 shares during the last quarter. Norman Fields Gottscho Capital Management LLC raised its position in Formula One Group by 7.0% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 107,922 shares of the company’s stock worth $6,813,000 after purchasing an additional 7,037 shares during the last quarter. Finally, Greenwood Gearhart Inc. grew its holdings in Formula One Group by 6.1% during the 3rd 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 period. 92.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a research note 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.