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StumbleNY firm cuts stake in casino operator
Tuesday, Feb. 22, 2000 | 10:34 a.m.
Bear Stearns & Co., a prominent New York brokerage firm, reported a significant cut in its stake in Station Casinos Inc.
A recent filing with the Securities and Exchange Commission indicated Bear Stearns now holds 1.86 million shares in Station, a 4.39 percent stake.
One year ago, Bear Stearns held 2.62 million shares, or 7.4 percent of Station. That stake had made Bear Stearns the largest outside institutional investor in Station, Station's proxy filings indicated.
Bear Stearns did not indicate when it sold its shares.
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