Formula One Group (NASDAQ:FWONK - Get Free Report) major shareholder Berkshire Hathaway Inc sold 52,911 shares of the business's stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $34.06, for a total value of $1,802,148.66. Following the completion of the transaction, the insider now directly owns 4,999,007 shares in the company, valued at approximately $170,266,178.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Monday, April 29th, Berkshire Hathaway Inc acquired 311,637 shares of Formula One Group stock. The stock was acquired at an average cost of $25.47 per share, for a total transaction of $7,937,394.39.
- On Friday, April 26th, Berkshire Hathaway Inc acquired 219,303 shares of Formula One Group stock. The stock was acquired at an average cost of $24.46 per share, for a total transaction of $5,364,151.38.
- On Wednesday, April 24th, Berkshire Hathaway Inc acquired 123,388 shares of Formula One Group stock. The stock was acquired at an average cost of $25.22 per share, for a total transaction of $3,111,845.36.
- On Friday, April 12th, Berkshire Hathaway Inc acquired 413,227 shares of Formula One Group stock. The stock was acquired 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 acquired 513,104 shares of Formula One Group stock. The stock was acquired 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 purchased 938,896 shares of Formula One Group stock. The shares were purchased 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 purchased 1,250,000 shares of Formula One Group stock. The shares were purchased 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 acquired 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 stock was acquired 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 purchased 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.
Formula One Group Trading Up 0.3 %
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Shares of NASDAQ FWONK opened at $72.67 on Tuesday. The firm has a market cap of $17.08 billion and a P/E ratio of 53.04. Formula One Group has a 1-year low of $60.95 and a 1-year high of $78.58. The business's 50 day moving average is $70.74 and its 200-day moving average is $67.80.
Formula One Group (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.21. The company had revenue of $550.00 million for the quarter, compared to the consensus estimate of $591.77 million. Analysts forecast that Formula One Group will post 1.2 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on FWONK shares. StockNews.com downgraded Formula One Group from a "hold" rating to a "sell" rating in a report on Saturday, March 9th. Evercore ISI raised their price objective on Formula One Group from $85.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Formula One Group presently has a consensus rating of "Hold" and a consensus price target of $84.00.
Check Out Our Latest Analysis on FWONK
Hedge Funds Weigh In On Formula One Group
A number of hedge funds have recently added to or reduced their stakes in FWONK. Janney Montgomery Scott LLC increased its stake in shares of Formula One Group by 13.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,000 shares of the company's stock valued at $1,378,000 after purchasing an additional 2,514 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Formula One Group by 156.3% during the 4th quarter. Russell Investments Group Ltd. now owns 71,618 shares of the company's stock worth $4,522,000 after buying an additional 43,675 shares during the period. Norman Fields Gottscho Capital Management LLC lifted its holdings in Formula One Group by 7.0% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 107,922 shares of the company's stock worth $6,813,000 after buying an additional 7,037 shares during the period. Finally, Greenwood Gearhart Inc. lifted its holdings in Formula One Group by 6.1% during the 3rd quarter. Greenwood Gearhart Inc. now owns 174,111 shares of the company's stock worth $10,848,000 after buying an additional 9,992 shares during the period. Institutional investors own 92.26% of the company's stock.
About Formula One Group
(
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.
Further Reading
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