Pequot Capital Cuts Stake in STM Wireless
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Pequot Capital Management Inc., a Westport, Conn., investment advisor, has reduced its stake in STM Wireless Inc. to just under 6% from 8.1%, according to a report filed Tuesday with the Securities and Exchange Commission.
Pequot sold 145,429 common shares on March 13 and 14 at prices ranging from $12 to $13.44 a share, and currently holds 426,000 shares of the Irvine provider of satellite communications networks.
STM’s stock closed at $9.75, down 63 cents a share, in Nasdaq trading.
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