Formula One Group (NASDAQ:FWONA) Major Shareholder Berkshire Hathaway Inc Acquires 123,388 Shares

Posted by Caroline Horne on Apr 27th, 2024

Formula One Group (NASDAQ:FWONA – Get Free Report) major shareholder Berkshire Hathaway Inc acquired 123,388 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average price of $25.22 per share, for a total transaction of $3,111,845.36. Following the acquisition, the insider now directly owns 34,805,607 shares in the company, valued at $877,797,408.54. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% 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 purchased at an average price of $24.46 per share, for a total transaction of $5,364,151.38.
On Friday, April 12th, Berkshire Hathaway Inc acquired 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 acquired 513,104 shares of Formula One Group stock. The stock was 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 acquired 938,896 shares of Formula One Group stock. The stock was 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 acquired 1,250,000 shares of Formula One Group stock. The stock was 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 stock was bought 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 stock was bought 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 stock was bought 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 stock was bought at an average price of $29.94 per share, for a total transaction of $617,033.46.
On Friday, March 8th, Berkshire Hathaway Inc bought 521,804 shares of Formula One Group stock. The stock was bought at an average price of $29.86 per share, for a total transaction of $15,581,067.44.

Formula One Group Trading Up 0.4 %

FWONA opened at $61.63 on Friday. Formula One Group has a fifty-two week low of $55.08 and a fifty-two week high of $69.48. The company’s 50-day moving average price is $61.33 and its 200 day moving average price is $59.60.

Formula One Group (NASDAQ:FWONA – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.39). The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion.

Institutional Investors Weigh In On Formula One Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS raised its stake in Formula One Group by 38.1% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 30,829 shares of the company’s stock worth $1,787,000 after acquiring an additional 8,500 shares during the period. Janney Montgomery Scott LLC raised its stake in Formula One Group by 3.9% during the third quarter. Janney Montgomery Scott LLC now owns 12,789 shares of the company’s stock worth $723,000 after acquiring an additional 481 shares during the period. Finally, Strs Ohio grew 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 worth $2,050,000 after purchasing an additional 5,812 shares during the last quarter. Institutional investors and hedge funds own 8.38% of the company’s stock.

Analyst Ratings Changes

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

View Our Latest Report on Formula One Group

Formula One Group Company Profile

(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.