Hummingbird Management Cuts Stake In Meade Instruments
Hummingbird Management LLC has drastically reduced its stake in Meade Instruments Corp. (NASDAQ:MEAD), according to a 13D filing. The micro-cap oriented value hedge fund, managed by Paul Sonkin, now owns 3.24% of the Delaware based company. Prior to the filing, Hummingbird Management owned 7.63% of Meade Instruments Corp. and Paul Sonkin owned 0.32% of outstanding shares, according to Reuters data from 01/05/2012. Prior to the filing, Hummingbird was the third largest shareholder of Meade Instruments. After the filing, the value hedge fund should be the fifth largest equity . . .
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