Formula One Group (NASDAQ:FWONA) Major Shareholder Berkshire Hathaway Inc Purchases 311,637 Shares

Posted by Michelle Swanson on May 4th, 2024

Formula One Group (NASDAQ:FWONA – Get Free Report) major shareholder Berkshire Hathaway Inc purchased 311,637 shares of the business’s stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $25.47 per share, for a total transaction of $7,937,394.39. Following the purchase, the insider now 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 is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

On Friday, April 26th, Berkshire Hathaway Inc acquired 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 acquired 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 acquired 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 acquired 513,104 shares of Formula One Group stock. The stock was acquired 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 acquired 938,896 shares of Formula One Group stock. The stock was 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 acquired 1,250,000 shares of Formula One Group stock. The stock was 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 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 bought 199,664 shares of Formula One Group stock. The shares were purchased 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 bought 333,916 shares of Formula One Group stock. The shares were purchased at an average price of $28.92 per share, for a total transaction of $9,656,850.72.
On Monday, March 11th, Berkshire Hathaway Inc bought 20,609 shares of Formula One Group stock. The shares were purchased at an average price of $29.94 per share, for a total transaction of $617,033.46.

Formula One Group Trading Down 0.4 %

NASDAQ:FWONA opened at $62.89 on Friday. The firm’s fifty day moving average price is $61.45 and its two-hundred day moving average price is $59.66. Formula One Group has a one year low of $55.08 and a one year high of $69.48.

Formula One Group (NASDAQ:FWONA – Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.39). The company 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 restated a “hold” rating and set a $73.00 target price on shares of Formula One Group in a report on Tuesday, April 2nd.

Check Out Our Latest Report on FWONA

Hedge Funds Weigh In On Formula One Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in 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 last quarter. Kornitzer Capital Management Inc. KS increased its position in Formula One Group by 38.1% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company’s stock worth $1,787,000 after buying an additional 8,500 shares during the period. Finally, Strs Ohio lifted its holdings in shares of Formula One Group by 19.1% during the third quarter. Strs Ohio now owns 36,262 shares of the company’s stock worth $2,050,000 after buying an additional 5,812 shares in the last quarter. Institutional investors and hedge funds own 8.38% 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.