Wednesday, March 31, 2010

Harbinger Capital trims stake in NY Times at a loss

Harbinger Capital "sold 1,500,000 shares of NYT on March 26th at a price of $11.20. After the sales, Harbinger is left with 16,886,799 shares remaining. As per the amended 13D, we now see that this totals This is obviously a decrease from the last time when we saw their NYT stake in Harbinger's portfolio. These recent sales come after Falcone's hedge fund reduced their NYT stake back in December and in November as well. So, the selling continues at a very controlled pace....
  • Yet again, Harbinger has sold shares at a loss. They initially acquired their stake between $15-20 per share almost two years ago when they invested over $500 million."...3/31 via Poynter.org/Romenesko

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