Formula One Group (NASDAQ:FWONK) Major Shareholder Buys $5,364,151.38 in Stock

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc purchased 219,303 shares of Formula One Group stock in a transaction dated Friday, April 26th. The shares were purchased at an average price 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 $860,557,076.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% 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 purchased 123,388 shares of Formula One Group stock. The shares were purchased 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 bought 413,227 shares of Formula One Group stock. The stock was bought at an average price of $25.58 per share, with a total value of $10,570,346.66.
• On Wednesday, April 10th, Berkshire Hathaway Inc bought 513,104 shares of Formula One Group stock. The stock was 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 bought 938,896 shares of Formula One Group stock. The stock was bought at an average price of $26.98 per share, with a total value of $25,331,414.08.
• On Thursday, April 4th, Berkshire Hathaway Inc bought 1,250,000 shares of Formula One Group stock. The stock was bought 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 bought 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 stock was bought 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 stock was bought 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 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 0.7 %

Shares of NASDAQ:FWONK opened at $69.43 on Friday. The company has a 50-day moving average price of $68.65 and a 200-day moving average price of $66.34. Formula One Group has a 12 month low of $60.95 and a 12 month high of $78.58.

Formula One Group (NASDAQ:FWONK) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. Equities analysts expect that Formula One Group will post 0.96 earnings per share for the current year.

Hedge Funds Weigh In On Formula One Group

A number of institutional investors have recently bought and sold shares of FWONK. Janney Montgomery Scott LLC purchased a new stake in Formula One Group in the fourth quarter worth about $1,167,000. Russell Investments Group Ltd. increased its stake in shares of Formula One Group by 156.3% during the fourth quarter. Russell Investments Group Ltd. now owns 71,618 shares of the company’s stock valued at $4,522,000 after purchasing an additional 43,675 shares in the last quarter. Norman Fields Gottscho Capital Management LLC increased its stake in shares of Formula One Group by 7.0% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 107,922 shares of the company’s stock valued at $6,813,000 after purchasing an additional 7,037 shares in the last quarter. Finally, Greenwood Gearhart Inc. increased its stake in shares of Formula One Group by 6.1% during the third quarter. Greenwood Gearhart Inc. now owns 174,111 shares of the company’s stock valued at $10,848,000 after purchasing an additional 9,992 shares in the last quarter. 92.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of 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.