Formula One Group (NASDAQ:FWONA) Major Shareholder Buys $5,754,316.48 in Stock

Formula One Group (NASDAQ:FWONA) major shareholder Berkshire Hathaway Inc acquired 199,664 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $28.82 per share, with a total value of $5,754,316.48. Following the transaction, the insider now directly owns 57,886,716 shares in the company, valued at approximately $1,668,295,155.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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 Thursday, March 21st, Berkshire Hathaway Inc acquired 333,916 shares of Formula One Group stock. The shares were acquired at an average cost of $28.92 per share, with a total value of $9,656,850.72.
• On Monday, March 11th, Berkshire Hathaway Inc acquired 20,609 shares of Formula One Group stock. The shares were acquired at an average cost of $29.94 per share, with a total value of $617,033.46.
• On Friday, March 8th, Berkshire Hathaway Inc acquired 521,804 shares of Formula One Group stock. The shares were acquired 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 shares were acquired at an average cost 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 cost of $28.77 per share, with a total value of $6,737,761.38.
• On Wednesday, January 31st, Berkshire Hathaway Inc purchased 356,487 shares of Formula One Group stock. The shares were purchased at an average price 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 purchased at an average price 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 price 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 price of $30.40 per share, for a total transaction of $14,274,715.20.

Formula One Group Stock Down 1.0 %

NASDAQ:FWONA opened at $59.70 on Thursday. The stock’s fifty day moving average price is $61.27 and its two-hundred day moving average price 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) 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 firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion.

Institutional Trading of Formula One Group

Several hedge funds and other institutional investors have recently modified their holdings of FWONA. MetLife Investment Management LLC acquired a new stake in shares of Formula One Group in the first quarter valued at about $30,000. Fred Alger Management LLC acquired a new position in Formula One Group during the third quarter worth approximately $38,000. Brown Brothers Harriman & Co. increased its position in Formula One Group by 31.4% during the first quarter. Brown Brothers Harriman & Co. now owns 1,752 shares of the company’s stock worth $111,000 after buying an additional 419 shares during the last quarter. Janney Montgomery Scott LLC increased its position 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 buying an additional 481 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its position 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 buying an additional 8,500 shares during the last quarter. Institutional investors and hedge funds own 8.38% of the company’s stock.

About Formula One Group

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.