Form 4: Fairholme Capital Management Reduces Stake in St. Joe Co (JOE)

Bruce R. Berkowitz and Fairholme Funds Inc. report the sale of St. Joe Co shares, decreasing their holdings.

Summary

• Bruce R. Berkowitz, through Fairholme Capital Management, and Fairholme Funds Inc., reported selling shares of St. Joe Co (JOE) between February 28, 2024, and March 1, 2024.
• The transactions involved the sale of 3,100 shares on February 28, 2024, at $54.04 per share, 2,700 shares on February 29, 2024, at $54.05 per share, and 88,700 shares on March 1, 2024, at $54.03 per share.
• Following these transactions, the total number of shares beneficially owned by Mr. Berkowitz through The Fairholme Fund is 19,236,024.
• Mr. Berkowitz also directly owns 606,866 shares.
• Erica K. Kapahi, as Attorney in Fact, signed the report on behalf of Bruce R. Berkowitz and Fairholme Funds, Inc.

Sentiment

Score: 5

Explanation: Neutral sentiment as it simply reports transactions. The impact on the company depends on the market's interpretation of the sale.

Negatives

• Fairholme Capital Management has reduced its stake in St. Joe Co.

Industry Context

This filing reflects changes in ownership by a major shareholder, which is a common occurrence. The impact on the stock price will depend on market perception of the reasons behind the sale.

Stakeholder Impact

• Shareholders may react to the news of Fairholme reducing its stake.
• The company's management may need to address any concerns arising from this transaction.

Key Dates