Insider Buying: Formula One Group (NASDAQ:FWONK) Major Shareholder Purchases 123,388 Shares of Stock

Formula One Group (NASDAQ:FWONK) major shareholder Berkshire Hathaway Inc purchased 123,388 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average price of $25.22 per share, with a total value of $3,111,845.36. Following the acquisition, the insider now directly owns 34,805,607 shares in the company, valued at $877,797,408.54. The acquisition was disclosed in a filing with the SEC, which is available through this link. Large 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 purchased 219,303 shares of Formula One Group stock. The shares were purchased at an average price of $24.46 per share, with a total value of $5,364,151.38.
• On Friday, April 12th, Berkshire Hathaway Inc bought 413,227 shares of Formula One Group stock. The stock was bought at an average price of $25.58 per share, with a total value of $10,570,346.66.
• On Wednesday, April 10th, Berkshire Hathaway Inc bought 513,104 shares of Formula One Group stock. The stock was bought 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 bought 938,896 shares of Formula One Group stock. The stock was bought 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 bought 1,250,000 shares of Formula One Group stock. The stock was bought 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 bought 189,759 shares of Formula One Group stock. The stock was bought 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 purchased 333,916 shares of Formula One Group stock. The shares were 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 acquired at an average cost of $29.94 per share, with a total value of $617,033.46.
• On Friday, March 8th, Berkshire Hathaway Inc purchased 521,804 shares of Formula One Group stock. The shares were acquired at an average cost of $29.86 per share, with a total value of $15,581,067.44.

Formula One Group Stock Up 0.7 %

Shares of NASDAQ FWONK opened at $69.43 on Friday. The business has a fifty day simple moving average of $68.65 and a two-hundred day simple moving average of $66.33. Formula One Group has a twelve month low of $60.95 and a twelve month high of $78.58.

Formula One Group (NASDAQ:FWONK) last issued its earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates 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. As a group, sell-side analysts expect that Formula One Group will post 0.96 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Formula One Group

A number of institutional investors and hedge funds have recently bought and sold shares of FWONK. Greenwood Gearhart Inc. raised its position in Formula One Group by 6.1% during the 3rd quarter. Greenwood Gearhart Inc. now owns 174,111 shares of the company’s stock valued at $10,848,000 after purchasing an additional 9,992 shares in the last quarter. Norman Fields Gottscho Capital Management LLC raised 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 worth $6,813,000 after acquiring an additional 7,037 shares in the last quarter. Russell Investments Group Ltd. raised its position 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 worth $4,522,000 after acquiring an additional 43,675 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Formula One Group in the 4th quarter worth $1,167,000. 92.26% of the stock is owned by 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.