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

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc acquired 123,388 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was acquired at an average price of $25.22 per share, with a total value of $3,111,845.36. Following the completion of the transaction, the insider now directly owns 34,805,607 shares of the company’s stock, valued at approximately $877,797,408.54. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major 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 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, with a total value of $5,364,151.38.
• 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, with a total value of $10,570,346.66.
• On Wednesday, April 10th, Berkshire Hathaway Inc purchased 513,104 shares of Formula One Group stock. The shares were 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 purchased 938,896 shares of Formula One Group stock. The shares were 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 purchased 1,250,000 shares of Formula One Group stock. The shares were 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 purchased 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 purchased 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 purchased 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 purchased 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.
• On Friday, March 8th, Berkshire Hathaway Inc purchased 521,804 shares of Formula One Group stock. The shares were purchased 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 %

Shares of NASDAQ FWONA opened at $61.63 on Friday. Formula One Group has a 12-month low of $55.08 and a 12-month high of $69.48. The business’s fifty day simple moving average is $61.33 and its 200-day simple moving average is $59.60.

Formula One Group (NASDAQ:FWONA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share 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 the consensus estimate of $1.23 billion.

Wall Street Analyst Weigh In

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

Institutional Trading of Formula One Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio grew 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 purchasing an additional 5,812 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of 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 purchasing an additional 481 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its holdings in shares of 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 purchasing an additional 8,500 shares during the last quarter. 8.38% of the stock is currently owned by institutional investors and hedge funds.

Formula One Group Company Profile

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.