Berkshire Hathaway Inc Purchases 219,303 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc purchased 219,303 shares of the stock in a transaction on Friday, April 26th. The stock was bought at an average price of $24.46 per share, for a total transaction of $5,364,151.38. Following the completion of the transaction, the insider now directly owns 35,182,219 shares of the company’s stock, valued at $860,557,076.74. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more 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 Wednesday, April 24th, Berkshire Hathaway Inc bought 123,388 shares of Formula One Group stock. The shares were acquired at an average price of $25.22 per share, for a total transaction 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 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 acquired 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 acquired 938,896 shares of Formula One Group stock. The shares were purchased 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 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 acquired 189,759 shares of Formula One Group stock. The shares were purchased 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 purchased 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 acquired 333,916 shares of Formula One Group stock. The stock was acquired at an average cost 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 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 acquired 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.

Formula One Group Trading Up 0.7 %

Shares of NASDAQ:FWONK opened at $69.43 on Friday. The business’s 50 day simple moving average is $68.65 and its two-hundred day simple moving average is $66.33. Formula One Group has a 52-week low of $60.95 and a 52-week high of $78.58.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a report on Saturday, March 9th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Norman Fields Gottscho Capital Management LLC increased its position 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 acquiring an additional 7,037 shares during the last quarter. Greenwood Gearhart Inc. increased its position 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 acquiring an additional 9,992 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Formula One Group during the fourth quarter valued at approximately $1,167,000. Finally, Russell Investments Group Ltd. increased its position 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 acquiring an additional 43,675 shares during the last quarter. Institutional investors own 92.26% of the company’s stock.

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.