Can anyone who follows ROIAK confirm the accuracy of this posting?
3/31/09 and 6/30/09, per Form 13F-HR filed on 8/14/09. Incredibly, their selling represented roughly 50% of the 7 million or so in total volume that ROIAK traded during that time period, which no doubt explains why the stock was "dead in the water" for that time period.
I see a similar pattern with MNI, where Ariel did some major dumping in the same time period, only to be surprised by (like ROIAK) SPECTACULAR earnings.
The interesting question now, is with Ariel still holding 6.5 million shares at 6/30/09, are they CONTINUING to sell, or have they decided to HOLD their remaining position. Ariel owned an incredible 10 million shares of ROIAK at 3/31/09, which was equivalent to nearly 20% of the outstanding "K" shares, at the time.
My HOPE is that management is using its availability on its line of credit to BUY BACK shares from Ariel, and reduce the size of the share base. That would be an incredible way to continue to increase shareholder value...for those of us who remain. |
