Investment Guru George Soros Takes Stake In Ford (F)
November 17, 2009 8:53 AM
In a regulatory filing New York-based company, Soros Fund Management LLC, managed by George Soros, took a 7.34 million share stake in Ford Motors Co. (NYSE: F) as of Sept. 30. The fund bought at an average of $7.21, gaining $11 million through today as Ford Motors Co. closed at its highest price in two years.
Ford Motors Co rose 30 cents, or 3.6 percent, to $8.71 in New York Stock Exchange composite trading closing. The stock price has risen almost 25 percent since Oct. 1 and more than tripled this year.
Ford’s U.S. car and light truck sales rose 3.3 percent in October, while industry wide sales were even with last year, according to Autodata Corp. of Woodcliff Lake, New Jersey. Taurus sedan sales more than doubled while deliveries of the midsize Fusion rose 24 percent.
The earnings beat consensus analyst expectations which were estimating a third quarter loss.
