Formula One Group (NASDAQ:FWONA) Major Shareholder Sells $1,802,148.66 in Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc sold 52,911 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $34.06, for a total value of $1,802,148.66. Following the completion of the sale, the insider now owns 4,999,007 shares in the company, valued at $170,266,178.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares 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 purchased 311,637 shares of Formula One Group stock. The stock was purchased at an average price of $25.47 per share, for a total transaction of $7,937,394.39.
• On Friday, April 26th, Berkshire Hathaway Inc purchased 219,303 shares of Formula One Group stock. The stock was purchased at an average price of $24.46 per share, for a total transaction of $5,364,151.38.
• On Wednesday, April 24th, Berkshire Hathaway Inc purchased 123,388 shares of Formula One Group stock. The stock was purchased at an average price of $25.22 per share, for a total transaction of $3,111,845.36.
• On Friday, April 12th, Berkshire Hathaway Inc purchased 413,227 shares of Formula One Group stock. The stock was 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 bought at an average cost 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 stock was bought at an average cost 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 stock was bought at an average cost 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 stock was bought at an average cost 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 stock was bought at an average cost of $28.82 per share, for a total transaction of $5,754,316.48.
• On Thursday, March 21st, Berkshire Hathaway Inc bought 333,916 shares of Formula One Group stock. The stock was bought at an average cost of $28.92 per share, for a total transaction of $9,656,850.72.

Formula One Group Price Performance

NASDAQ FWONA traded up $0.59 during trading on Monday, reaching $66.02. 49,680 shares of the company’s stock were exchanged, compared to its average volume of 95,828. The business has a 50 day moving average price of $63.87 and a 200-day moving average price of $61.19. The stock has a market capitalization of $15.52 billion and a P/E ratio of 48.19. Formula One Group has a fifty-two week low of $55.08 and a fifty-two week high of $70.21.

Formula One Group (NASDAQ:FWONA) last posted its earnings results on Wednesday, May 8th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.11 by $0.21. The firm had revenue of $550.00 million during the quarter, compared to analyst estimates of $591.77 million. On average, analysts forecast that Formula One Group will post 1.47 earnings per share for the current year.

Hedge Funds Weigh In On Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC grew its position in Formula One Group (NASDAQ:FWONA) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,413 shares of the company’s stock after purchasing an additional 1,600 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FWONA. Benchmark reissued a “buy” rating and set a $77.00 price target on shares of Formula One Group in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft raised Formula One Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $73.00 to $83.00 in a research report on Thursday, May 30th.

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.