Mitchell Klipper, Chief Executive Officer at Barnes & Noble, Inc. (BKS), unloaded 88,000 shares of Common Stock yesterday. The sale was executed over a two day transaction, which commenced on Monday with the disposition of 51,324 shares for $23.02 per share and 11,633 shares for $22.83 per share. Yesterday, the sale was completed by unloading another 11,219 shares of Common Stock, at a price of $22.23 per share and 13,824 shares for $22.51. This disposition is one of many executed by insiders of the $1.35 billion market cap bookselling giant, as company Director George Campbell Jr. unloaded 10,000 company shares for $23.35 per share this past Friday.
However, this quarter showed positive progress amongst hedge funds, with several new shareholder positions now occupying the largest holdings amongst the bookselling firm. Such is the case with David Abrams hedge fund, Abrams Capital Management, which newly acquired 2.1 million shares of Barnes & Noble, worth $44.2 million and comprising 3.49% of the investor’s portfolio.