Pzena Funding Administration diminished its stake in Lear Corp.
© Reuters. Pzena Investment Management reduced its stake in Lear Corp.
On December 31, Pzena Investment Management sold 355,000 Lear Corp (NYSE 🙂 shares priced at $ 56 million at an average price of $ 159.03 per share.
Lear Corp shares are down -3.50% since the deal.
Pzena Investment Management's stake in Lear Corp decreased to around 4.6 million shares with the transaction.
Pzena Investment Management first bought shares in Lear Corp. in the fourth quarter of 2018.
Pzena Investment Management also owns Dana Holding Corp (NYSE 🙂 and Motorcar Parts of America, Inc. (MPAA).
Lear Corp ranks number one among automotive parts in terms of number of shares and market value.
Other investors who have also trimmed their Lear Corp shares include Harris Associates, Hotchkis & Wiley Capital Management, and Millennium Management.
Unlike Pzena Investment Management, Bridgewater Associates, the California State Teachers Retirement System, and Citigroup (NYSE 🙂 added to LEA stocks while Paulson & Co., PGGM Investments and Squarepoint Ops added LEA stocks to their portfolios.
Pzena Investment Management recently increased its stake in Motorcar Parts of America, Inc.
The total value of the shares purchased is estimated at approximately $ 2.9 million.
Pzena Investment Management also reduced their stake in Axis capital Holdings Limited (NYSE :), Hooker furniture Corporation (NASDAQ 🙂 and JELD-WEN Holding, Inc. (NYSE :).
The total value of the shares sold is estimated at approximately $ 101 million.
In addition, Pzena Investment Management has its stake in National Oilwell Varco Inc (NYSE :), Avnet Inc. (NASDAQ :), Triple-S Management Corporation (NYSE 🙂 and PVH Corp (NYSE :).
The total value of the shares purchased is estimated at approximately $ 310 million.
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