Insider Buying: Formula One Group (NASDAQ:FWONA) Major Shareholder Acquires 938,896 Shares of Stock

Formula One Group (NASDAQ:FWONA - Get Free Report) major shareholder Berkshire Hathaway Inc purchased 938,896 shares of the stock in a transaction on Monday, April 8th. The shares were purchased at an average cost of $26.98 per share, for a total transaction of $25,331,414.08. Following the acquisition, the insider now directly owns 67,909,913 shares of the company's stock, valued at $1,832,209,452.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% 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, April 4th, Berkshire Hathaway Inc bought 1,250,000 shares of Formula One Group stock. The stock was bought at an average cost of $27.76 per share, for a total transaction 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 cost of $29.25 per share, for a total transaction 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 cost of $28.82 per share, for a total transaction of $5,754,316.48.
• On Thursday, March 21st, Berkshire Hathaway Inc purchased 333,916 shares of Formula One Group stock. The stock was acquired at an average price of $28.92 per share, for a total transaction 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 price of $29.94 per share, for a total transaction 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 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 stock was acquired at an average price of $29.39 per share, for a total transaction of $34,915,320.00.
• On Monday, March 4th, Berkshire Hathaway Inc purchased 234,194 shares of Formula One Group stock. The stock was acquired at an average price of $28.77 per share, for a total transaction of $6,737,761.38.
• On Wednesday, January 31st, Berkshire Hathaway Inc acquired 356,487 shares of Formula One Group stock. The shares were purchased at an average price of $30.36 per share, for a total transaction of $10,822,945.32.
• On Wednesday, January 24th, Berkshire Hathaway Inc acquired 213,385 shares of Formula One Group stock. The shares were purchased at an average price of $30.99 per share, for a total transaction of $6,612,801.15.

Formula One Group Stock Up 1.2 %

NASDAQ:FWONA traded up $0.72 during mid-day trading on Monday, reaching $61.56. The company's stock had a trading volume of 227,761 shares, compared to its average volume of 98,519. Formula One Group has a 1 year low of $55.08 and a 1 year high of $69.48. The stock has a fifty day moving average of $61.26 and a 200-day moving average of $59.38.

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

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $73.00 price target on shares of Formula One Group in a report on Tuesday, April 2nd.

Institutional Trading of Formula One Group

Several hedge funds have recently modified their holdings of FWONA. MetLife Investment Management LLC purchased a new stake in shares of Formula One Group during the first quarter valued at about $30,000. Brown Brothers Harriman & Co. lifted its position in shares of Formula One Group by 31.4% during the first quarter. Brown Brothers Harriman & Co. now owns 1,752 shares of the company's stock valued at $111,000 after buying an additional 419 shares during the last quarter. Fred Alger Management LLC purchased a new stake in shares of Formula One Group during the third quarter valued at about $38,000. Geode Capital Management LLC lifted its position in shares of Formula One Group by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 259,280 shares of the company's stock valued at $13,853,000 after buying an additional 23,691 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Formula One Group by 0.3% during 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 buying an additional 228 shares during the last quarter. 8.38% of the stock is owned by hedge funds and other 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.

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