GV:
Actually, Cabot has sold far more than 87,281 shares.
As of March 29, 1996, they had 729,441 presplit shares, or a total of 1,458,882 shares post split. If you are correct, that they currently control only 975,669 shares they have now sold 483,213 shares or 33% of their holdings. Interesting that Oxley has also sold 452,500 shares during the same period.
Given that the big blocks are clearling selling major positions, almost 1,000,000 shares, and these shares were not previously available to borrow, I doubt we will see another short squeeze.
I'd hate to the last person at this dance!!!
Accoding to the SEC, see enforcement actions:
sec.gov
The Cabot Market Letter and other related publications. As of
December 31, 1995, accounts over which Cabot Money Management and
Lutts exercised investment discretion held 693,109 shares of
Presstek, approximately 4.7 percent of the total outstanding. As
of March 29, 1996, that figure had increased to 729,441 shares,
or approximately 4.8 percent of the total outstanding. Those
holdings accounted for more than 45 percent of the "Section 13(f)
securities" in accounts over which Cabot Money Management and
Lutts exercised investment discretion as of December 31, 1995,
and nearly 40 percent of the "Section 13(f) securities" as of
March 29, 1996. |
