10-year

10-Year Anniversary Promotion (20% off)

Join GuruFocus Premium Membership Now for Only $279/Year

The largest discount in the last 10 years

Save up to $500 on Global Membership.

Don't Miss It !

Free 7-day Trial
All Articles and Columns »

First Eagle Fund Selling Borland Software Shares It Acquired 10 days Ago

July 19, 2009 | About:
guruek

guruek

80 followers
(GuruFocus, Updated on July 19, 2009 ) First Eagle Fund, which Investment Guru Jean-Marie Eveillard managed for nearly 30 years through March 2009, is selling shares of Borland Software Corporation (BORL) , GuruFocus Data shows. On July 15, 2009, First Eagle sold 5.37% of their 3.8 million shares of Borland Software Corporation (BORL) at the price of $1.51 per share.

BORL is a new position for First Eagle Fund, as we reported on July 10, 2009, only one week ago. It is hard to understand why the value fund sold shares it acquired 10 days ago.

In March 2009, Jean-Marie stepped down and became an advisor to the fund. Borland Software Corporation provides e-business implementation platforms designed to increase developer productivity and reduce time to market for enterprise software projects. Borland Software Corp. has a market cap of $110.4 million; its shares were traded at around $1.51 with and P/S ratio of 0.6.

On May. 13, 2009, Borland Software Corporation announced financial results for the first quarter ended March 31, 2009. Borland had a total revenue of $35.1 million and GAAP net income of $1.9 million, or $0.03 per share for the quarter. “In the first quarter we exceeded our guidance, achieved GAAP profitability, and continued to strengthen our balance sheet,” said Erik Prusch, president and CEO of Borland. “We are pleased with our year-to-date progress, and our accomplishments represent tangible evidence of Borland’s continued commitment to execution, innovation and customer value.”

GuruFocus provides Real Time Guru Picks and Insider Buys/Sells information for Premium Member. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.


Rating: 3.1/5 (7 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK