An Oregon hedge fund has upped its stake in The Pantry.
Stadium Capital Management, a fund investing in small-cap companies, now owns 6.4 percent of The Pantry (Nasdaq: PTRY), according to regulatory documents. It owns 1.42 million shares of the Sanford-based gas station and convenience store chain.
Stadium's stake was just under 5 percent as of Dec. 31, 2007, documents say. It owned 1.09 million shares of the company on that date, good for 6.6 percent of its overall portfolio.
The hedge fund's move stands in contrast to that of another investor, Hayground Cove Associates of New York, which as of April 14 had cashed out of its previous 7.5 percent stake in The Pantry.
Shares in The Pantry have fallen 60 percent since the start of the year. They got cut nearly in half in two days after the company said it expected a downturn for the rest of its fiscal year, which ends in September.
For a Bailout, Press 'One', If you're a bank press 1, If a brokerage firm, press or say 2
For a Bailout, Press 'One', If you're a bank press 1, If a brokerage firm, press or say 2
