WCI Communities: Icahn Increases Stake To 14.57%

In a 13D filing after the close Friday on WCI Communities, Inc. (WCI), Carl Icahn disclosed a 14.57% stake (6.1 million shares) in the company. This is up from the 1.66 million shares Icahn disclosed in its latest quarterly filing.

In the filing, Icahn said he intend to contact the Company with a view to having a series of discussions regarding the business and prospects of the Company and seeking the Company's views on how to unlock the inherent value of the Shares

Shares of WCI Communities were 8% to $22.72 in early action Tuesday.

NOTE: Mega hedge-fund SAC Capital recently disclosed a 6.5% stake in WCI. Link

Comments

[Greg Calder...:]

Cramer says to follow Icahn's lead. Wait for a little pullback, then pull the trigger. Read more at cramersez.com or thestreet.com.

2007 Jan 18 06:48 PM