SEC Watch: The Incredible Shrinking Stake: Harbinger’s NYT Holdings Now Below 10 Percent

New York Times Building Day

Harbinger continues its death-by-1,000-cuts approach to its stake in the New York Times Co. (NYSE: NYT), selling 2.25 million shares this week for roughly $40.4 million. The latest sales reported to the SEC take the hedge fund’s holding down to 9.43 percent from 11.68 percent; at one point, it owned nearly 20 percent, much of it acquired at prices between $17 and $21. Last month, Harbinger sold 1.5 million shares for $16.8 million. Those shares sold for $11; these went for $12.3 (1.5 million on 4/20) and $12.55 (1.75 million on 4/21). Harbinger still has 13,636,799 shares. NYT shares closed at $12.29 Thursday, down 3.5 percent after Q1 earnings that were better than expected.

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