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Richard Blum Trimmed $ERT Position After 60% Gain

Richard Blum’s Blum Capital had 5.5 million shares in eResearch Technology Inc (ERT) at the end of December. The stock jumped 60% in 2012 earning the hedge fund more than $16 million. Yesterday Richard Blum disclosed that he sold around 1 million shares and cut his stake to 4.55 million shares. Chuck Royce also had nearly 2 million shares in the company as well. Billionaire Jim Simons’ Renaissance Technologies also had 200K shares of ERT.


ERT is a $400 million market cap company. According to Yahoo Finance, eResearchTechnology, Inc. provides technology-driven services and medical devices primarily in North America, the United Kingdom, and Germany. The company’s cardiac safety solutions include EXPERT, a technology platform for workflow-enabled cardiac safety data collection, interpretation, and distribution of electrocardiographic (ECG) data and images, as well as for analysis and cardiologist interpretation of ECGs on research subjects.