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Fairholme Capital Reduces Stake in St. Joe Company (JOE)

Bruce Berkowitz's Fairholme Capital Management reduced its stake in St Joe, a real estate development and operating company, based on its 13D filing with the Securities and Exchange Commission (SEC).

The filing showed that Fairholme Capital Management beneficially owns 24, 455,880 shares or 32.3% of the outstanding shares of St. Joe as of September 28, 2015. The investment management firm previously owned 24,624,918 shares of the company.

Fairholme Capital Management reported that it sold 2,200 shares on August 21 for $16.75 a piece and 105,000 shares for $18 each. The investment management firm is the largest shareholder of St. Joe.

St. Joe financial and stock performance

Over the past 52 weeks, the equities St. Joe traded between $14.94 and $20.23 per share. The stock price of the...