Hedge fund buys 6.9% stake in Gaylord

Nashville Tennessean- A filing made with the Securities and Exchange Commission Thursday revealed another institutional investor who placed large bets on shares of Nashville-based Gaylord Entertainment as its stock price drifted to new lows almost two weeks ago.

New York-based hedge fund Eminence Capital LLC, headed by Ricky C. Sandler, disclosed that it acquired 2.8 million shares, or 6.9 percent, of Gaylord stock on July 14, the same day a Goldman Sachs downgrade sent the stock to its 52-week low of $19.30 per share.

The stock closed at $29.20 Thursday, up nearly 35 percent in the past 10 days, but still only trading at about half of its yearly high, reached last August.

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