SEC Watch: Activist Hedge Fund Harbinger Cuts NYT Stake To 14.6 Percent

NYT Headquarters

Harbinger Capital Partners continues to slice its stake of the New York Times (NYSE: NYT). Co., selling its second batch of stock in two months. The activist hedge fund that spent more than a half-billion accumulating nearly 20 percent of the publishing company’s stock in 2007 now owns less than 15 percent — 14.64 percent, to be exact, based on the number of shares outstanding on Oct. 30. According to SEC filings today (here and here), the fund sold 2.5 million shares of its then-16.4 percent on Nov. 17 at $9 a share; that comes out to $22.5 million.

Harbinger sold 5 million shares at $8.25 per share for $41.2 million in September.

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