Investor picks up 5.5% stake in Crown Crafts
January 27, 2003-- Home Textiles Today,
An unidentified investor has acquired a 5.5 percent stake in Crown Crafts Inc., an infant products producer, purchasing a single block of 514,000 shares at $0.48 a share on Friday.
The purchase pushed the price of Crown Crafts shares up by $0.03, or 6.7 percent.
Both the activity and the volume were highly unusual for the thinly traded stock, which is listed on the OTC Bulletin Board. Indeed, days, even weeks, can go by without any shares being traded.
Amy Samson, Crown Crafts, cfo, said the company is unaware of the identity of the purchaser.