In another surprising move, Warren Buffett's Berkshire Hathaway has sold another 1.375 million shares of Moody's Corp. It sold off another batch just a few trading days ago, leaving its shareholdings to a mere 11.1% in the credit ratings agency Moody's Investors Service parent firm.
The firm had sold shares last Thursday, Friday and Monday, receiving a total of US$84.5 million or GBP54.3 million. It now has retained 25.3 million shares according to regulatory documentation filed.
Berkshire Hathaway, last Wednesday, announced the sale of 1.75 million of the shares of Moody's in the first three days of last week. This was the first time this occurred since 2010, when it last sold shares of Moody's.
At its highest, Berkshire had held more than 20% of Moody's. The private equity firm of Warren Buffett had owned shares of the mother company of the Moody's Investor Service for more than ten years.
In regular trading last Monday, Moody's shares increased by 1.2% to a price of US$63.50 per share, a new high for the past year.
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