Formula One Group (NASDAQ:FWONA) Major Shareholder Berkshire Hathaway Inc Purchases 1,250,000 Shares

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc bought 1,250,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were acquired at an average cost of $27.76 per share, with a total value of $34,700,000.00. Following the completion of the transaction, the insider now owns 66,736,288 shares in the company, valued at $1,852,599,354.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, April 8th, Berkshire Hathaway Inc purchased 938,896 shares of Formula One Group stock. The stock was bought at an average cost of $26.98 per share, for a total transaction of $25,331,414.08.
• On Wednesday, March 27th, Berkshire Hathaway Inc acquired 189,759 shares of Formula One Group stock. The shares were 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 shares were bought 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 bought 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 acquired 20,609 shares of Formula One Group stock. The shares were purchased 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 purchased at an average price of $29.86 per share, for a total transaction of $15,581,067.44.
• On Wednesday, March 6th, Berkshire Hathaway Inc purchased 1,188,000 shares of Formula One Group stock. The shares were purchased at an average price of $29.39 per share, with a total value of $34,915,320.00.
• On Monday, March 4th, Berkshire Hathaway Inc acquired 234,194 shares of Formula One Group stock. The stock was purchased at an average cost of $28.77 per share, with a total value of $6,737,761.38.
• On Wednesday, January 31st, Berkshire Hathaway Inc acquired 356,487 shares of Formula One Group stock. The shares were acquired at an average cost of $30.36 per share, for a total transaction of $10,822,945.32.
• On Wednesday, January 24th, Berkshire Hathaway Inc bought 213,385 shares of Formula One Group stock. The stock was acquired at an average price of $30.99 per share, with a total value of $6,612,801.15.

Formula One Group Stock Performance

Shares of NASDAQ FWONA opened at $59.69 on Thursday. The business has a 50-day simple moving average of $61.23 and a two-hundred day simple moving average of $59.45. Formula One Group has a 52 week low of $55.08 and a 52 week high of $69.48.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS raised its holdings in shares of 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 in the last quarter. Janney Montgomery Scott LLC grew its stake in Formula One Group by 3.9% in the 3rd 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. Strs Ohio increased its holdings in shares of Formula One Group by 19.1% in the 3rd quarter. Strs Ohio now owns 36,262 shares of the company’s stock worth $2,050,000 after buying an additional 5,812 shares during the last quarter. Geode Capital Management LLC increased its stake in Formula One Group by 5.2% in the first quarter. Geode Capital Management LLC now owns 272,763 shares of the company’s stock valued at $18,412,000 after acquiring an additional 13,483 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Formula One Group by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 72,448 shares of the company’s stock valued at $4,890,000 after acquiring an additional 228 shares during the last quarter. 8.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.