Investor picks up Crown Crafts stock
January 24, 2003-- Home Textiles Today,
Gonzales, LA — An unidentified investor has acquired a 5.5 percent stake in Crown Crafts, purchasing a single block of 514,000 shares at $0.48 a share this morning.
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. Amy Samson, Crown Crafts' cfo, told HTT the company was unaware of the identity of the purchaser.
A form 13D, identifying the purchaser, had not yet been filed with the Securities and Exchange Commission. The purchase was made just three weeks before the company is scheduled to report its third fiscal quarter sales and earnings on Feb. 12.