Fairholme (FAIRX) is Buying St Joe Co (NYSE:JOE) Shares


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), St Joe Co (NYSE:JOE) reported that Fairholme (FAIRX) has picked up 25,128,057 of common stock as of 2017-05-31.

The acquisition brings the aggregate amount owned by Fairholme (FAIRX) to a total of 25,128,057 representing less than 34.9% stake in the company.

For those not familiar with the company, The St. Joe Company is a real estate development, asset management and operating company. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. Its residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land. Its commercial real estate segment plans, develops, manages and sells real estate. Resorts and leisure segment features a portfolio of vacation rentals and hotel operations, as well as golf courses, a beach club, marinas and other related resort amenities. Its leasing operations business includes its retail and commercial leasing. Its forestry segment focuses on the management of its timber holdings in Northwest Florida.

A glance at St Joe Co (NYSE:JOE)’s key stats reveals a current market capitalization of 1.27 Billion based on 71.97 Million shares outstanding and a price at last close of $17.65 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-05-23, Gonzalez picked up 1,400 at a purchase price of $17.48. This brings their total holding to 1,404 as of the date of the filing.

On the sell side, the most recent transaction saw Harrelson unload 3,800 shares at a sale price of $21.47. This brings their total holding to 1,192.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on St Joe Co (NYSE:JOE) as things move forward to see if its progress aligns with these transactions.

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