Insider Buying: Formula One Group (NASDAQ:FWONA) Major Shareholder Acquires 219,303 Shares of Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc bought 219,303 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were bought at an average cost of $24.46 per share, for a total transaction of $5,364,151.38. Following the purchase, the insider now owns 35,182,219 shares of the company’s stock, valued at approximately $860,557,076.74. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 Wednesday, April 24th, Berkshire Hathaway Inc acquired 123,388 shares of Formula One Group stock. The shares were purchased at an average cost of $25.22 per share, for a total transaction of $3,111,845.36.
• On Friday, April 12th, Berkshire Hathaway Inc acquired 413,227 shares of Formula One Group stock. The shares were 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 bought 513,104 shares of Formula One Group stock. The stock was purchased at an average price 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 purchased at an average price of $26.98 per share, for a total transaction of $25,331,414.08.
• On Thursday, April 4th, Berkshire Hathaway Inc acquired 1,250,000 shares of Formula One Group stock. The stock was acquired 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 purchased 189,759 shares of Formula One Group stock. The stock was acquired 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 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 stock was acquired 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 stock was 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 bought 521,804 shares of Formula One Group stock. The shares were bought at an average cost of $29.86 per share, for a total transaction of $15,581,067.44.

Formula One Group Stock Performance

FWONA stock opened at $61.63 on Monday. The company’s fifty day simple moving average is $61.33 and its 200 day simple moving average is $59.57. Formula One Group has a 12-month low of $55.08 and a 12-month high of $69.48.

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

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $73.00 price target on shares of Formula One Group in a research note on Tuesday, April 2nd.

Hedge Funds Weigh In On Formula One Group

Several institutional investors have recently added to or reduced their stakes in FWONA. Janney Montgomery Scott LLC raised its holdings in shares of Formula One Group by 3.9% during the third quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company’s stock valued at $723,000 after purchasing an additional 481 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in Formula One Group by 38.1% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company’s stock worth $1,787,000 after buying an additional 8,500 shares during the period. Finally, Strs Ohio raised its stake in Formula One Group by 19.1% during 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 period. 8.38% of the stock is owned by institutional investors and hedge funds.

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.