Berkshire Hathaway Inc Buys 311,637 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONK - Get Free Report) major shareholder Berkshire Hathaway Inc acquired 311,637 shares of the firm's stock in a transaction on Monday, April 29th. The stock was purchased at an average price of $25.47 per share, with a total value of $7,937,394.39. Following the transaction, the insider now owns 70,002,897 shares of the company's stock, valued at approximately $1,782,973,786.59. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company's stock 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 acquired 219,303 shares of Formula One Group stock. The stock was acquired at an average price of $24.46 per share, with a total value of $5,364,151.38.
• On Wednesday, April 24th, Berkshire Hathaway Inc acquired 123,388 shares of Formula One Group stock. The shares were bought at an average price of $25.22 per share, with a total value of $3,111,845.36.
• On Friday, April 12th, Berkshire Hathaway Inc acquired 413,227 shares of Formula One Group stock. The stock was purchased at an average price of $25.58 per share, for a total transaction of $10,570,346.66.
• On Wednesday, April 10th, Berkshire Hathaway Inc acquired 513,104 shares of Formula One Group stock. The stock was purchased 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 bought 938,896 shares of Formula One Group stock. The stock was acquired 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 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 bought 189,759 shares of Formula One Group stock. The stock was acquired 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, 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 purchased 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 stock was purchased at an average cost of $29.94 per share, with a total value of $617,033.46.

Formula One Group Price Performance

Shares of FWONK stock traded up $0.36 on Wednesday, hitting $70.33. The stock had a trading volume of 895,628 shares, compared to its average volume of 1,062,123. The company's 50 day moving average price is $68.72 and its 200-day moving average price is $66.35. Formula One Group has a 1 year low of $60.95 and a 1 year high of $78.58.

Formula One Group (NASDAQ:FWONK - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.06). The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.25 billion. On average, sell-side analysts anticipate that Formula One Group will post 0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Formula One Group from a "hold" rating to a "sell" rating in a research report on Saturday, March 9th.

Institutional Investors Weigh In On Formula One Group

A number of large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of Formula One Group during the 4th quarter worth about $1,167,000. Russell Investments Group Ltd. boosted its holdings in shares of Formula One Group by 156.3% in the 4th quarter. Russell Investments Group Ltd. now owns 71,618 shares of the company's stock valued at $4,522,000 after buying an additional 43,675 shares in the last quarter. Norman Fields Gottscho Capital Management LLC grew its position in shares of Formula One Group by 7.0% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 107,922 shares of the company's stock valued at $6,813,000 after buying an additional 7,037 shares during the last quarter. Finally, Greenwood Gearhart Inc. boosted its stake in Formula One Group by 6.1% in 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 in the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

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.

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