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

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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