Formula One Group (NASDAQ:FWONA) Major Shareholder Purchases $7,937,394.39 in Stock

Posted by Steve Reilly on May 4th, 2024

Formula One Group (NASDAQ:FWONA – Get Free Report) major shareholder Berkshire Hathaway Inc bought 311,637 shares of the stock in a transaction on Monday, April 29th. The shares were bought at an average price of $25.47 per share, for a total transaction of $7,937,394.39. Following the completion of the transaction, the insider now directly owns 70,002,897 shares of the company’s stock, valued at approximately $1,782,973,786.59. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 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 Friday, April 26th, Berkshire Hathaway Inc purchased 219,303 shares of Formula One Group stock. The stock was acquired 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 acquired 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 acquired 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 shares were purchased 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 purchased 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 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, for a total transaction of $5,550,450.75.
On Monday, March 25th, Berkshire Hathaway Inc purchased 199,664 shares of Formula One Group stock. The shares were 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 purchased 333,916 shares of Formula One Group stock. The shares were bought at an average cost of $28.92 per share, for a total transaction of $9,656,850.72.
On Monday, March 11th, Berkshire Hathaway Inc purchased 20,609 shares of Formula One Group stock. The shares were bought at an average cost of $29.94 per share, for a total transaction of $617,033.46.

Formula One Group Stock Down 0.4 %

NASDAQ FWONA opened at $62.89 on Friday. Formula One Group has a one year low of $55.08 and a one year high of $69.48. The company has a 50-day simple moving average of $61.45 and a 200-day simple moving average of $59.66.

Formula One Group (NASDAQ:FWONA – Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.39). The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion.

Analyst Upgrades and Downgrades

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

Get Our Latest Research Report on FWONA

Institutional Trading of Formula One Group

Hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in 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 purchasing an additional 481 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its position in Formula One Group by 38.1% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company’s stock valued at $1,787,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Strs Ohio lifted its position in Formula One Group by 19.1% in the 3rd quarter. Strs Ohio now owns 36,262 shares of the company’s stock valued at $2,050,000 after purchasing an additional 5,812 shares during the last quarter. 8.38% of the stock is currently owned by institutional investors.

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.