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

Posted by MarketBeat News on Mar 28th, 2024

Formula One Group (NASDAQ:FWONA – Get Free Report) major shareholder Berkshire Hathaway Inc bought 333,916 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average cost of $28.92 per share, with a total value of $9,656,850.72. Following the purchase, the insider now directly owns 56,944,193 shares of the company’s stock, valued at $1,646,826,061.56. The acquisition 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 shares 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 bought at an average price 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 bought at an average price 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 bought 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 purchased 1,188,000 shares of Formula One Group stock. The stock was bought 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 acquired at an average price of $28.77 per share, with a total value of $6,737,761.38.
On Wednesday, January 31st, Berkshire Hathaway Inc acquired 356,487 shares of Formula One Group stock. The shares were acquired at an average price of $30.36 per share, with a total value of $10,822,945.32.
On Wednesday, January 24th, Berkshire Hathaway Inc acquired 213,385 shares of Formula One Group stock. The shares were acquired at an average price of $30.99 per share, with a total value of $6,612,801.15.
On Tuesday, January 16th, Berkshire Hathaway Inc acquired 543,977 shares of Formula One Group stock. The shares were acquired at an average price of $30.43 per share, with a total value of $16,553,220.11.
On Friday, January 12th, Berkshire Hathaway Inc acquired 469,563 shares of Formula One Group stock. The shares were acquired at an average price of $30.40 per share, with a total value of $14,274,715.20.

Formula One Group Stock Performance

Shares of NASDAQ FWONA opened at $59.70 on Thursday. Formula One Group has a one year low of $55.08 and a one year high of $69.48. The business has a 50-day moving average price of $61.27 and a two-hundred day moving average price of $59.39.

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Formula One Group (NASDAQ:FWONA – Get Free Report) last announced 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 business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion.

Institutional Investors Weigh In On Formula One Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Formula One Group by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 72,448 shares of the company’s stock worth $4,890,000 after purchasing an additional 228 shares in the last quarter. Brown Brothers Harriman & Co. raised 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 in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Formula One Group during the 1st quarter worth about $30,000. Janney Montgomery Scott LLC raised its stake in shares of 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 acquiring an additional 481 shares in the last quarter. Finally, Fred Alger Management LLC bought a new position in shares of Formula One Group in the 3rd quarter valued at approximately $38,000. 8.38% of the stock is owned by hedge funds and other institutional investors.

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.