Bruce Berkowitz Trims RSC Holdings $RRR, Stock Declines 5%

eWallstreeter | eWallstreeter | May 11, 2011 11:23 am

Yesterday after the market closed Bruce Berkowitz disclosed that he sold nearly half of his RSC Holdings (RRR) stake at the end of April. Berkowitz’s Fairholme trimmed its RRR holdings to 7.4 Million from 14.6 Million at the end of December. The stock declined more than 5 percent so far today. The stock traded above the $13 mark in April. Since RRR was $9.74 at the end of December, Berkowitz made around 35% from the shares he sold. Currently RRR trades at $12.16.

Bruce Berkowitz has by the largest stake in RRR among the 300 hedge fund managers we follow. David Keidan’s Buckingham Capital, Richard Driehaus’ Driehaus Capital, William Michaelcheck’s Mariner Investment Group, and Tim Flannery’s Copia Capital had small holdings in RRR at the end of December.

According to Yahoo Finance, RSC Holdings Inc. rents various…