Warren Buffett Sells More Moody's After Stock Rebounds
Warren Buffett's Berkshire Hathaway unloaded just over one million more shares of Moody's last week after the credit rating agency's stock price rebounded to the mid-$20s.
According to an SEC filing late Friday, Berkshire sold a total of 1,152,627 shares on Wednesday, October 28 and Thursday, October 29. The average price was $24.87, raising $28.7 million for Berkshire.
Berkshire Hathaway remains Moody's largest shareholder, with 38,066,685 shares. That's a stake of 16.1 percent, down from the 16.6 percent it held as of early September.
Berkshire's Moody's Sales
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All the sales, including the latest round, came when Moody's stock price has been in the mid to high $20s. Shares slid sharply in late September, falling from a close of $25.92 on September 16 to a closing low of $18.77 on September 28. An October rebound brought them back a near-term closing high of $25.58 on October 22.
Current Berkshire stock prices: