Berkshire Hathaway Inc Purchases 311,637 Shares of Formula One Group (NASDAQ:FWONA) Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc acquired 311,637 shares of the stock in a transaction dated Monday, April 29th. The stock was acquired at an average price of $25.47 per share, for a total transaction of $7,937,394.39. Following the completion of the transaction, the insider now directly owns 70,002,897 shares of the company’s stock, valued at $1,782,973,786.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Friday, April 26th, Berkshire Hathaway Inc bought 219,303 shares of Formula One Group stock. The shares were acquired at an average cost of $24.46 per share, for a total transaction of $5,364,151.38.
• On Wednesday, April 24th, Berkshire Hathaway Inc purchased 123,388 shares of Formula One Group stock. The stock was acquired at an average price 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 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 shares were bought at an average price of $25.96 per share, with a total value of $13,320,179.84.
• On Monday, April 8th, Berkshire Hathaway Inc purchased 938,896 shares of Formula One Group stock. The stock was bought 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 acquired 1,250,000 shares of Formula One Group stock. The shares were purchased at an average price of $27.76 per share, with a total value 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 purchased 199,664 shares of Formula One Group stock. The shares were purchased 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 acquired 333,916 shares of Formula One Group stock. The shares were purchased at an average cost of $28.92 per share, for a total transaction of $9,656,850.72.
• On Monday, March 11th, Berkshire Hathaway Inc bought 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.

Formula One Group Price Performance

NASDAQ FWONA opened at $63.12 on Friday. The business’s 50 day moving average price is $61.43 and its 200-day moving average price is $59.65. Formula One Group has a fifty-two week low of $55.08 and a fifty-two week high of $69.48.

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

Institutional Trading of Formula One Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in shares of Formula One Group by 3.9% in 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 during the period. Strs Ohio grew its position in 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 acquiring an additional 5,812 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its position in Formula One Group by 38.1% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company’s stock valued at $1,787,000 after acquiring an additional 8,500 shares during the last quarter. 8.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set 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.