Berkshire Hathaway Inc Acquires 123,388 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc bought 123,388 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was acquired at an average cost of $25.22 per share, with a total value of $3,111,845.36. Following the transaction, the insider now owns 34,805,607 shares in the company, valued at approximately $877,797,408.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 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 Friday, April 26th, Berkshire Hathaway Inc purchased 219,303 shares of Formula One Group stock. The shares were acquired at an average cost of $24.46 per share, with a total value of $5,364,151.38.
• On Friday, April 12th, Berkshire Hathaway Inc purchased 413,227 shares of Formula One Group stock. The shares were acquired at an average cost of $25.58 per share, with a total value 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, 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 shares were acquired at an average cost of $26.98 per share, with a total value of $25,331,414.08.
• On Thursday, April 4th, Berkshire Hathaway Inc purchased 1,250,000 shares of Formula One Group stock. The shares were acquired at an average cost of $27.76 per share, with a total value of $34,700,000.00.
• On Wednesday, March 27th, Berkshire Hathaway Inc purchased 189,759 shares of Formula One Group stock. The shares were acquired at an average cost 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 shares were acquired 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 acquired 333,916 shares of Formula One Group stock. The shares were 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 acquired 20,609 shares of Formula One Group stock. The shares were bought at an average price 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 shares were bought at an average price of $29.86 per share, with a total value of $15,581,067.44.

Formula One Group Stock Performance

FWONK stock opened at $69.43 on Friday. Formula One Group has a 1-year low of $60.95 and a 1-year high of $78.58. The business has a 50 day simple moving average of $68.65 and a two-hundred day simple moving average of $66.34.

Formula One Group (NASDAQ:FWONK) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share 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. Equities analysts predict that Formula One Group will post 0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new position in Formula One Group in the 4th quarter worth approximately $1,167,000. Russell Investments Group Ltd. raised its holdings in shares of Formula One Group by 156.3% during the 4th quarter. Russell Investments Group Ltd. now owns 71,618 shares of the company’s stock worth $4,522,000 after acquiring an additional 43,675 shares in the last quarter. Norman Fields Gottscho Capital Management LLC raised its holdings in shares of Formula One Group by 7.0% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 107,922 shares of the company’s stock worth $6,813,000 after acquiring an additional 7,037 shares in the last quarter. Finally, Greenwood Gearhart Inc. raised its holdings in shares of Formula One Group by 6.1% during the 3rd quarter. Greenwood Gearhart Inc. now owns 174,111 shares of the company’s stock worth $10,848,000 after acquiring an additional 9,992 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors.

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.