Wednesday, September 15, 2010

"Warren Buffet Resumes Sales of Moody's After Stock Price Rebounds" (MCO; BRK.B)

From CNBC:
Warren Buffett's Berkshire Hathaway has resumed sales of Moody's shares as the credit rating agency's stock price tops $25.
That's a rebound from June lows that took the stock under $19.
Berkshire has been unloading slices of its Moody's position since last summer, but hasn't revealed any sales since March, when the stock was above $30.
According to an SEC filing, a total of 1,350,550 shares were sold for $33.98 million over three trading days ending yesterday (Tuesday).  Average selling price: $25.16.

That brings Berkshire's stake in Moody's down to 12.56 percent from 13 percent in March.  It had a 20 percent stake before beginning sales in July, 2009.
Even after all the sales, however, Berkshire is still Moody's largest shareholder....MORE