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 holder. Meade Instruments Corp. (Meade) is a consumer products company that designs, manufactures, imports, and distributes telescopes, telescope…