Does any body know why Ron Baron sold 5300 shares for a total of 96K in November 1998? I've been a long time share holder of both the Baron Asset Fund and SGA, in fact Ron Baron was the one that gave me SGA as an investment idea. He perpetually promotes SGA in every one of his Quarterly Reports. The sale of the above shares from his personal account is quite disturbing. Per the September 98 quarterly the Baron Funds own 3.2 million shares.
What information we don't have is his new Quarterly reports for the quarter ending Dec of 1998. What we do have is the steady distribution (a disalarmingly trend of going down on high volume), of SGA stock.
Because there is a low amount of float with this stock, it doesn't take a lot of volume, to effect a downward trend in price movement. Has Ron Baron given up his belief that SGA is a great place to invest in the telecommunications/broadcasting industry?
We have witnessed before where Ron has shamelessly promoted a company's merits, and with the receipt of his next quarterly report, we see he is a net SELLER of the stock.
According to my Bloomberg, in the quarter ended 9/39/98, Baron bought 265,659 shares. That gets him up to 4.878 million shares, or 43.54%. I checked the SEC filings, and I dont see any 13-G filings made to show any sales in November.