From the Yahoo Message board, I got the following on institutional buying:
4-6-98 State of Wisconsin Investment Board 4,997,000 s/s
3-9-98 Trinity Fund I (Bass partnership) 3,503,700 s/s
3-4-98 Merrill Lynch Phoenix Fund PrincetonServices, Inc.
Fund Asset Management, L.P. 3,200,000 s/s
1-5-98 Pioneering Management Corp. 2,706,000 s/s
That's not a bad endorsement. If I'm not wrong, the State of Wisconsin has more than doubled its position (though, of course, they may simply be averaging down to get out sooner...).
What I don't understand is that according to Vickers Insider Trading, former (?) Chairman of the Board, Charles Leighton, sold 574,879 shares between 3/9/98 and 4/21/98 from $ 1.13 to $ 1.88, i.e. well below present price. Was he obliged to as part of severance package or is this rotten timing or little faith either in salvageability of company or competence of management?
I personally believe in the Nordic Track brand name and love the newer top line models in the ski machines. I have used the Medalist for over a year & it has performed very well for me. So, we'll see. |
