Billionaire Warren Buffett’s company has unloaded nearly 8 million shares of Moody’s stock and reduced its stake in the credit rating agency to 17 percent.
Berkshire Hathaway Inc. revealed the sales in documents filed with the Securities and Exchange Commission on Wednesday.
Buffett’s Omaha-based company held 48 million shares of Moody’s stock on March 31 just before Moody’s cut Berkshire pristine triple-A credit rating.
As of Wednesday, Berkshire held 40,013,700 Moody’s shares.
Berkshire reported selling most of the Moody’s stock over the past three days at prices between $26.59 and $28.73 on average.
Berkshire officials do not typically comment on stock transactions, and the company’s spokeswoman was not available Wednesday evening.