Formula One Group (NASDAQ:FWONA) Major Shareholder Acquires $9,656,850.72 in Stock

Posted by Casey Walker on Mar 28th, 2024

Formula One Group (NASDAQ:FWONA – Get Free Report) major shareholder Berkshire Hathaway Inc purchased 333,916 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was purchased at an average cost of $28.92 per share, with a total value of $9,656,850.72. Following the acquisition, the insider now directly owns 56,944,193 shares in the company, valued at $1,646,826,061.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% 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, March 25th, Berkshire Hathaway Inc purchased 199,664 shares of Formula One Group stock. The stock was purchased at an average cost of $28.82 per share, with a total value of $5,754,316.48.
On Monday, March 11th, Berkshire Hathaway Inc purchased 20,609 shares of Formula One Group stock. The stock was purchased at an average cost of $29.94 per share, with a total value of $617,033.46.
On Friday, March 8th, Berkshire Hathaway Inc purchased 521,804 shares of Formula One Group stock. The stock was purchased at an average cost of $29.86 per share, with a total value of $15,581,067.44.
On Wednesday, March 6th, Berkshire Hathaway Inc acquired 1,188,000 shares of Formula One Group stock. The stock was bought at an average cost of $29.39 per share, for a total transaction of $34,915,320.00.
On Monday, March 4th, Berkshire Hathaway Inc acquired 234,194 shares of Formula One Group stock. The stock was bought at an average cost of $28.77 per share, for a total transaction of $6,737,761.38.
On Wednesday, January 31st, Berkshire Hathaway Inc acquired 356,487 shares of Formula One Group stock. The stock was bought at an average cost of $30.36 per share, for a total transaction 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, for a total transaction 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, for a total transaction 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, for a total transaction of $14,274,715.20.

Formula One Group Stock Down 1.0 %

Shares of FWONA stock opened at $59.70 on Thursday. The firm’s 50-day moving average is $61.27 and its 200-day moving average is $59.39. Formula One Group has a 52-week low of $55.08 and a 52-week 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS lifted 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 purchasing an additional 8,500 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake 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. Strs Ohio lifted its stake 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. Geode Capital Management LLC lifted its stake in Formula One Group by 5.2% in the 1st quarter. Geode Capital Management LLC now owns 272,763 shares of the company’s stock valued at $18,412,000 after purchasing an additional 13,483 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Formula One Group by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 72,448 shares of the company’s stock valued at $4,890,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds own 8.38% of the company’s stock.

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.