Formula One Group (NASDAQ:FWONA) Major Shareholder Berkshire Hathaway Inc Sells 52,911 Shares

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc sold 52,911 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $34.06, for a total transaction of $1,802,148.66. Following the sale, the insider now directly owns 4,999,007 shares of the company’s stock, valued at approximately $170,266,178.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% 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 Monday, April 29th, Berkshire Hathaway Inc acquired 311,637 shares of Formula One Group stock. The shares were bought at an average cost of $25.47 per share, with a total value of $7,937,394.39.
• On Friday, April 26th, Berkshire Hathaway Inc acquired 219,303 shares of Formula One Group stock. The shares were bought at an average cost 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 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 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 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 bought 938,896 shares of Formula One Group stock. The shares were acquired 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 bought 1,250,000 shares of Formula One Group stock. The shares were acquired 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 acquired at an average price 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 shares were acquired 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 stock was purchased at an average cost of $28.92 per share, with a total value of $9,656,850.72.

Formula One Group Stock Up 0.9 %

FWONA stock opened at $66.02 on Tuesday. The firm has a market capitalization of $15.52 billion and a PE ratio of 48.19. Formula One Group has a twelve month low of $55.08 and a twelve month high of $70.21. The stock has a 50-day simple moving average of $63.87 and a two-hundred day simple moving average of $61.19.

Formula One Group (NASDAQ:FWONA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.11 by $0.21. The business had revenue of $550.00 million for the quarter, compared to analysts’ expectations of $591.77 million. On average, equities research analysts anticipate that Formula One Group will post 1.47 EPS for the current fiscal year.

Analysts Set New Price Targets

FWONA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised Formula One Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $73.00 to $83.00 in a report on Thursday, May 30th. Benchmark reissued a “buy” rating and issued a $77.00 price objective on shares of Formula One Group in a report on Wednesday, May 22nd.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC increased its position in Formula One Group (NASDAQ:FWONA) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,789 shares of the company’s stock after buying an additional 481 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $723,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 8.38% of the company’s stock.

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.