GABELLI, OTHERS REDUCE NEIMAN MARCUS STAKE
NEW YORK — A group of investors led by Mario Gabelli, among Neiman Marcus’s largest shareholders, decreased its stake in the luxury goods retailer to about 18 percent of its common stock, or 3.6 million shares.
According to a filing with the Securities and Exchange Commission, the group sold about 230,000 shares of Neiman’s common shares at prices ranging from $33 to $36.15 since the time of its last SEC filing on Jan. 11. At that time the group had a 19.2 percent stake in the company, or more than 3.8 million shares of its common stock.
The group has held a stake in Neiman’s for several years and previously stated that it generally had increased or decreased its equity position with the company for normal investment purposes.
The company’s stock Tuesday established a new 52-week high of $39.89 after closing up $1.07, or 2.8 percent, on the New York Stock Exchange. The company’s 12-month low came on Feb. 28 when shares closed at $19.38.