Formula One Group (NASDAQ:FWONA) Major Shareholder Buys $5,754,316.48 in Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc bought 199,664 shares of Formula One Group stock in a transaction on Monday, March 25th. The stock was purchased at an average price of $28.82 per share, with a total value of $5,754,316.48. Following the completion of the acquisition, the insider now directly owns 57,886,716 shares of the company’s stock, valued at approximately $1,668,295,155.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large 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 Thursday, March 21st, Berkshire Hathaway Inc bought 333,916 shares of Formula One Group stock. The stock was purchased 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 purchased 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 purchased 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 purchased 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 acquired 234,194 shares of Formula One Group stock. The shares were bought at an average price of $28.77 per share, for a total transaction of $6,737,761.38.
• On Wednesday, January 31st, Berkshire Hathaway Inc purchased 356,487 shares of Formula One Group stock. The shares were acquired at an average cost of $30.36 per share, with a total value of $10,822,945.32.
• On Wednesday, January 24th, Berkshire Hathaway Inc purchased 213,385 shares of Formula One Group stock. The shares were acquired at an average cost of $30.99 per share, with a total value of $6,612,801.15.
• On Tuesday, January 16th, Berkshire Hathaway Inc purchased 543,977 shares of Formula One Group stock. The shares were acquired at an average cost of $30.43 per share, with a total value of $16,553,220.11.
• On Friday, January 12th, Berkshire Hathaway Inc purchased 469,563 shares of Formula One Group stock. The shares were acquired at an average cost of $30.40 per share, with a total value of $14,274,715.20.

Formula One Group Price Performance

FWONA opened at $59.70 on Thursday. Formula One Group has a 12-month low of $55.08 and a 12-month high of $69.48. The firm has a 50 day moving average of $61.27 and a two-hundred day moving average of $59.39.

Formula One Group (NASDAQ:FWONA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates 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.

Institutional Investors Weigh In On Formula One Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. MetLife Investment Management LLC acquired a new stake in shares of Formula One Group during the 1st quarter worth approximately $30,000. Fred Alger Management LLC acquired a new stake in shares of Formula One Group during the 3rd quarter worth approximately $38,000. Brown Brothers Harriman & Co. grew its stake in shares of Formula One Group by 31.4% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,752 shares of the company’s stock worth $111,000 after purchasing an additional 419 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Formula One Group by 3.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company’s stock worth $723,000 after purchasing an additional 481 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its stake 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 acquiring an additional 8,500 shares during the period. 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.