For the second time in less than a month Aletheia Research and Management has sold a significant portion of its holdings in Barnes & Noble. In a filing with the SEC Tuesday, the firm disclosed that it cut its stake in B&N from 8.65% to 5.38%. In early June, and shortly after John Malone made his $17 per share bid from B&N, Aletheia reduced its stake from 10.59%.
Aletheia sold its shares at prices ranging from a high of $20.62 per share to a low of $17.53 and its action is further indication that the firm may believe B&N will not receive any bids for B&N over the $17 per share offer. B&N’s stock price closed at $tk on June 28.
