Form 4: Bruce Berkowitz and Fairholme Funds Reduce Stake in St. Joe Co (JOE)
SEC Form 4 Filing
Bruce Berkowitz and Fairholme Funds sold shares of St. Joe Co (JOE) between May 20th and May 22nd, 2024, reducing their holdings.
Summary
- Bruce Berkowitz, through Fairholme Capital Management, and Fairholme Funds Inc., reported selling shares of St. Joe Co (JOE) in a series of transactions.
- On May 20, 2024, 65,500 shares were sold at $58.25 per share.
- On May 21, 2024, 33,900 shares were sold at $58.02 per share.
- On May 22, 2024, 400 shares were sold at $58.01 per share.
- Following these transactions, the Fairholme Fund directly owns 18,254,624 shares.
- Bruce Berkowitz directly owns 606,866 shares.
- Erica K. Kapahi signed the Form 4 on behalf of Bruce R. Berkowitz and Fairholme Funds, Inc. as Attorney in Fact.
Sentiment
Score: 4
Explanation: The sentiment is neutral to slightly negative as it reflects insider selling, which could be interpreted as a lack of confidence, but could also be due to a variety of personal financial reasons.
Negatives
- Bruce Berkowitz and Fairholme Funds reduced their stake in St. Joe Co (JOE) by selling shares.
Industry Context
Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's stock. These filings provide transparency into the transactions of those with privileged information.
Stakeholder Impact
- Shareholders may react to the news of Bruce Berkowitz and Fairholme Funds selling shares, potentially impacting the stock price.
Key Dates
| Date | Description |
|---|---|
| April 9, 2020 | Date of Power of Attorney granted to Erica K. Kapahi. |
| 05/20/2024 | Sale of 65,500 shares of Common Stock at $58.25. |
| 05/21/2024 | Sale of 33,900 shares of Common Stock at $58.02. |
| 05/22/2024 | Sale of 400 shares of Common Stock at $58.01. |
| 05/22/2024 | Date of Form 4 filing. |
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