Two Investors Sell 500,000 Shares in CKE Restaurants
ANAHEIM —
Two longtime shareholders of CKE Restaurants Inc., parent of the Carl’s Jr. hamburger chain, have sold another large chunk of CKE stock, according to a document filed Wednesday with the Securities and Exchange Commission.
Dito-Devcar Inc., which is controlled by Newport Beach investors Richard and Carole Pickup, sold 500,000 shares between Oct. 13 and Oct. 24, reducing the firm’s stake in CKE Restaurants to 2.75% from 5.5% of the company’s common shares outstanding. The stock was sold at $15.15 to $15.73 a share.
The investors, which sold 350,000 shares in July and August, now hold 500,000 shares in CKE Restaurants. The stock closed Wednesday at $14.375, down 37.5 cents a share.
