Group Reduces Its Stake in Pacific Sunwear

Vinik Partners LP and affiliates cut their stake in Pacific Sunwear of California Inc. to 4.8% from 8% of the company’s outstanding common shares.

The Vinik group, led by former Fidelity Investments fund manager Jeffrey Vinik, said in a filing Thursday with the Securities and Exchange Commission that it recently sold shares at $30.87 to $36.72 a share.

The investment group now owns 390,100 shares, according to the filing, down from the 645,100 shares the group said it held in April.

Shares of Pacific Sunwear, which sells casual clothing and accessories at mall-based stores, fell $1.88 Thursday to close at $28.25 a share.