Insider Buying: Formula One Group (NASDAQ:FWONA) Major Shareholder Buys $5,364,151.38 in Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc acquired 219,303 shares of Formula One Group stock in a transaction on Friday, April 26th. The stock was acquired 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Wednesday, April 24th, Berkshire Hathaway Inc purchased 123,388 shares of Formula One Group stock. The stock was acquired at an average cost 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 shares were bought at an average cost 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 shares were bought at an average price of $25.96 per share, for a total transaction of $13,320,179.84.
• On Monday, April 8th, Berkshire Hathaway Inc purchased 938,896 shares of Formula One Group stock. The stock was bought 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 acquired 1,250,000 shares of Formula One Group stock. The stock was purchased at an average price 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 shares were purchased 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 stock was purchased at an average price of $28.82 per share, for a total transaction of $5,754,316.48.
• On Thursday, March 21st, Berkshire Hathaway Inc acquired 333,916 shares of Formula One Group stock. The shares were 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 bought 20,609 shares of Formula One Group stock. The stock was acquired at an average cost 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 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 Performance

Shares of FWONA opened at $61.63 on Monday. Formula One Group has a 1 year low of $55.08 and a 1 year high of $69.48. The stock’s 50-day moving average price is $61.33 and its two-hundred day moving average price is $59.57.

Formula One Group (NASDAQ:FWONA) last released 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 company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion.

Hedge Funds Weigh In On Formula One Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of Formula One Group by 3.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company’s stock valued at $723,000 after buying an additional 481 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in Formula One Group by 38.1% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company’s stock valued at $1,787,000 after acquiring an additional 8,500 shares during the period. Finally, Strs Ohio grew its stake in Formula One Group by 19.1% in the third quarter. Strs Ohio now owns 36,262 shares of the company’s stock valued at $2,050,000 after acquiring an additional 5,812 shares during the period. 8.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.