Group Cuts Stake in ATI Medical Inc.
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A Washington investor group cut its stake in ATI Medical Inc., a Glendale company that rents medical equipment, to 3.5% from about 12%.
The group, led by Christopher S. Middendorff and Jonathan S. Bowers, said in a filing with the Securities and Exchange Commission that between July 5 and Aug. 30 it sold 637,750 ATI shares and bought 158,300 shares, for a net sale of 479,450 shares. The group still owns 185,450 shares, the filing said.
The stock was sold at prices ranging from $13.25 a share in early July to $4.75 in late August, reflecting the recent plunge in ATI’s price. The drop reflected in part ATI’s Aug. 22 announcement that it expects to report a loss for its fiscal fourth quarter that ended July 31.
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