Buffett Dumping More & More Moody's (MCO)

Banking, finance, and taxes

Published: December 15, 2009 6:44 am

Last Updated: March 10, 2020 5:51 pm

It wasn’t that long ago that we gave a list of stocks that Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) needed to dump to help pay for its Burlington Northern Santa Fe (NYSE: BNI) acquisition. Moody’s Corp. (NYSE: MCO) was one of those stocks. He had already lightened up some since, and on Monday evening came a filing at the SEC confirming that Buffett was dumping more stock.

The filing was 3 groups of stock coming to a total of 3,454,791 share sold. That leaves Buffett’s Berkshire Hathaway with 31,902,602 shares. We doubt he’ll be out of this position entirely by the end of the year, but the writing has been on the wall here for two years that the ratings agency game and dominance is over.

The weighted average sales price here was north of $26.00, and Moody’s common stock has a 52-week trading range of $15.57 to $31.79. This was a $60 and $70 stock as recently as mid-2007 when the cracks in the ratings agency model were already coming front and center. Buffett has finally capitulated on this one.

Jon C. Ogg

Take Charge of Your Retirement In Just A Few Minutes (Sponsor)

Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.

Here’s how it works:

Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.

Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!