Broadridge Financial Solutions Purchase
I added shares of Broadridge Financial Solutions (BR) to the Fat Pitch Financials Port yesterday. The Fat Pitch Financials Port is a virtual portfolio that I track at Marketocracy. I put in an order to buy 2,600 shares of BR with a limit of $19.25. The order was filled at a net average price of $19.30 including commissions and fees.
Broadridge is the recent spin-off from ADP. Shareholders of ADP received one share of BR for every 4 shares of ADP they held. The spinoff was completed May 30th. I received a small number of shares from my long term position in ADP, which predates the Fat Pitch Financials Port. After deliberating for a week, I decided to add additional shares of Broadridge to my holdings and also add it to the Fat Pitch Financials Port at Marketocracy.
Value Discipline already covered many of the details associated with the Broadridge spinoff. There was also considerable discussion regarding Broadridge on Value Investing News. I plan on posting my analysis of Broadridge hopefully later today if time permits.
Full Disclosure: I own shares in ADP and Broadridge Financial Solutions.
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What was the cost basis for the BR spinoff?