(NewsTraders) -- A group including Richard A. Kayne and Kaim Non-Traditional L.P., has amassed a 10.30% stake in Cannondale Corp. (BIKE), and is seeking to maximize "long-term shareholder value in light of recent performance," according to a Schedule 13D with the SEC.
The investment group said it has had discussions with Cannondale's management, and has also had, and expects to continue to have, discussions with other stockholders regarding the company's performance.
The Kayne group, which currently owns an aggregate of 767,252 Cannondale common shares, noted it did not acquire its stake with the purpose of changing or influencing the control of Cannondale.
Recent transactions by the filing group include the dispensation of 26,168 shares on October 9 at $9.34 per share, and the acquisition of 371,000 shares between March 17 and June 9 at prices ranging from $16.47 to $12.67 per share. |
