Originally posted by IIC
NEW YORK, July 19 (Reuters) - One of the top shareholders of Host America Corp. (CAFE.O: Quote, Profile, Research), which has seen its shares rally more than threefold over the past week, has sold 94.1 percent of his stake in the company, according to a filing with the U.S. Securities and Exchange Commission.
Roger D. Lockhart sold 392,330 shares of Host America for $13.85 a share, in trades worth almost $5.3 million, according to the filing. That reduced his holdings in the company to 24,500 shares.
Host America shares rose after the company disclosed on July 12 that it was surveying 10 locations operated by Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research) to install a fluorescent lighting system.
On July 11, the shares closed at $3.16 on the Nasdaq. On Tuesday, they closed at $14.58.
Lockhart did not immediately return calls seeking comment. When the company filed its most recent proxy statement with the SEC, Lockhart was the company's second-largest shareholder.
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