As of Nov. 28, David Nierenberg of micro-cap-focused investment company, D3Family Funds, has reported to eliminating 1.75 million shares off his top holding, Move Inc., according to GuruFocus Real Time Picks. Selling the shares at an average price of $7.40, the reduction totaled 33.79 percent of his shareholding, leaving a 5.93 percent impact to his overall portfolio.
Nierenberg first acquired the online real estate stock in the second quarter, starting off with almost 5.3 million shares at an average price of $8.65 at the time. This recent transaction makes it his second stake reduction since purchasing the stock. Continue Reading »