Formula One Group (NASDAQ:FWONK - Get Free Report) major shareholder Berkshire Hathaway Inc acquired 413,227 shares of the stock in a transaction dated Friday, April 12th. The shares were bought at an average price of $25.58 per share, with a total value of $10,570,346.66. Following the completion of the transaction, the insider now directly owns 69,044,244 shares of the company's stock, valued at $1,766,151,761.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Berkshire Hathaway Inc also recently made the following trade(s):
- On Wednesday, April 10th, Berkshire Hathaway Inc acquired 513,104 shares of Formula One Group stock. The shares were 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 acquired 938,896 shares of Formula One Group stock. The shares were 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 acquired 1,250,000 shares of Formula One Group stock. The shares were 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 acquired 189,759 shares of Formula One Group stock. The shares were 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 acquired 199,664 shares of Formula One Group stock. The shares were bought at an average price of $28.82 per share, with a total value of $5,754,316.48.
- On Thursday, March 21st, Berkshire Hathaway Inc bought 333,916 shares of Formula One Group stock. The stock was acquired at an average price 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 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 stock was acquired at an average price of $29.86 per share, with a total value of $15,581,067.44.
- On Wednesday, March 6th, Berkshire Hathaway Inc bought 1,188,000 shares of Formula One Group stock. The stock was acquired at an average price of $29.39 per share, with a total value of $34,915,320.00.
- On Monday, March 4th, Berkshire Hathaway Inc bought 234,194 shares of Formula One Group stock. The stock was acquired at an average price of $28.77 per share, with a total value of $6,737,761.38.
Formula One Group Price Performance
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FWONK stock opened at $67.23 on Friday. The stock's fifty day simple moving average is $68.33 and its two-hundred day simple moving average is $66.16. 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 issued its earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.06). The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.25 billion. On average, equities research analysts forecast that Formula One Group will post 0.94 earnings per share for the current fiscal year.
Institutional Trading of Formula One Group
Several hedge funds have recently made changes to their positions in FWONK. MetLife Investment Management LLC bought a new stake in shares of Formula One Group in the first quarter valued at $277,000. Brown Brothers Harriman & Co. raised its stake in shares of Formula One Group by 20.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 4,181 shares of the company's stock valued at $292,000 after purchasing an additional 696 shares during the period. Weiss Multi Strategy Advisers LLC bought a new stake in shares of Formula One Group during the 1st quarter valued at $1,455,000. Neuberger Berman Group LLC raised its stake in shares of Formula One Group by 643.6% during the 1st quarter. Neuberger Berman Group LLC now owns 144,189 shares of the company's stock valued at $10,094,000 after purchasing an additional 124,798 shares during the period. Finally, Natixis Advisors L.P. raised its stake in shares of Formula One Group by 31.4% during the 2nd quarter. Natixis Advisors L.P. now owns 25,151 shares of the company's stock valued at $1,596,000 after purchasing an additional 6,014 shares during the period. 92.26% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on FWONK shares. Morgan Stanley downgraded Formula One Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $80.00 to $70.00 in a report on Monday, December 18th. StockNews.com downgraded Formula One Group from a "hold" rating to a "sell" rating in a report on Saturday, March 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $82.67.
Get Our Latest Research Report on Formula One Group
Formula One Group Company Profile
(
Get Free Report)
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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