Formula One Group (NASDAQ:FWONK) Major Shareholder Purchases $5,754,316.48 in Stock

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc bought 199,664 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $28.82 per share, with a total value of $5,754,316.48. Following the purchase, the insider now owns 57,886,716 shares in the company, valued at $1,668,295,155.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, March 21st, Berkshire Hathaway Inc acquired 333,916 shares of Formula One Group stock. The stock was purchased 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 stock was bought 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 bought at an average cost 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 bought 234,194 shares of Formula One Group stock. The stock was bought at an average cost of $28.77 per share, with a total value of $6,737,761.38.
• On Thursday, February 1st, Berkshire Hathaway Inc bought 175,827 shares of Formula One Group stock. The stock was bought at an average cost of $30.70 per share, with a total value of $5,397,888.90.
• On Tuesday, January 30th, Berkshire Hathaway Inc bought 495,739 shares of Formula One Group stock. The stock was bought at an average cost of $30.12 per share, with a total value of $14,931,658.68.
• On Thursday, January 25th, Berkshire Hathaway Inc purchased 139,132 shares of Formula One Group stock. The shares were acquired at an average cost of $30.99 per share, with a total value of $4,311,700.68.
• On Tuesday, January 23rd, Berkshire Hathaway Inc purchased 650,224 shares of Formula One Group stock. The shares were acquired at an average cost of $30.96 per share, with a total value of $20,130,935.04.
• On Tuesday, January 16th, Berkshire Hathaway Inc purchased 543,977 shares of Formula One Group stock. The shares were acquired at an average cost of $30.43 per share, with a total value of $16,553,220.11.

Formula One Group Trading Down 1.2 %

Shares of Formula One Group stock opened at $66.95 on Thursday. The company’s fifty day simple moving average is $68.21 and its 200-day simple moving average is $66.08. Formula One Group has a 1-year low of $60.95 and a 1-year high of $78.58.

Formula One Group (NASDAQ:FWONK) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.06). The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. As a group, research analysts predict that Formula One Group will post 0.94 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FWONK shares. StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Morgan Stanley cut shares of Formula One Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $80.00 to $70.00 in a report on Monday, December 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.67.

Institutional Investors Weigh In On Formula One Group

Large investors have recently modified their holdings of the business. MetLife Investment Management LLC bought a new position in shares of Formula One Group during the 1st quarter worth approximately $277,000. Brown Brothers Harriman & Co. raised its holdings in shares of Formula One Group by 20.0% in the first quarter. Brown Brothers Harriman & Co. now owns 4,181 shares of the company’s stock worth $292,000 after buying an additional 696 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Formula One Group in the first quarter worth $1,455,000. Neuberger Berman Group LLC raised its holdings in shares of Formula One Group by 643.6% in the first quarter. Neuberger Berman Group LLC now owns 144,189 shares of the company’s stock worth $10,094,000 after buying an additional 124,798 shares during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in shares of Formula One Group by 31.4% in the second quarter. Natixis Advisors L.P. now owns 25,151 shares of the company’s stock worth $1,596,000 after buying an additional 6,014 shares during the last quarter. Institutional investors own 92.26% 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.