Form 4: Fairholme Capital Management Reduces Stake in St. Joe Co (JOE)
SEC Form 4
Bruce Berkowitz, controlling person of Fairholme Capital Management, reports the sale of St. Joe Co (JOE) shares held by The Fairholme Fund.
Summary
- Bruce Berkowitz, through Fairholme Capital Management, reported the sale of St.
- Joe Co (JOE) shares held by The Fairholme Fund.
- On February 23, 2024, 4,500 shares were sold at $55.38 per share.
- On February 26, 2024, 3,200 shares were sold at $54.85 per share.
- On February 27, 2024, 56,500 shares were sold at $54.05 per share.
- Following these transactions, Fairholme Fund's holdings amount to 19,330,524 shares.
- Berkowitz 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 reduced its stake in St. Joe Co (JOE) through the sale of shares.
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 Fairholme's reasons for selling.
Stakeholder Impact
- Shareholders may react to the news of Fairholme reducing its stake.
- The company may experience short-term stock price volatility.
Key Dates
| Date | Description |
|---|---|
| 2020-04-09 | Power of Attorney granted to Erica K. Kapahi. |
| 2024-02-23 | Sale of 4,500 shares of Common Stock at $55.38. |
| 2024-02-26 | Sale of 3,200 shares of Common Stock at $54.85. |
| 2024-02-27 | Sale of 56,500 shares of Common Stock at $54.05. |
| 2024-02-27 | Date of report filing. |
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