Monday, October 02, 2006

Hayground Cove Accumulates 5.5% Stake in Isle of Capri Casinos (ISLE)

In a 13D filing on Isle of Capri Casinos Inc. (Nasdaq: ISLE), Jason Ader of Hayground Cove Asset Management disclosed a 5.53% stake (1.9 million shares) in the company. There is no other record showing a stake owned by the hedge fund.

According to James Altucher of The, "Ader was a successful gaming and lodging analyst for Bear Stearns for many years. Institutional Investor ranked him as the top analyst in the sector in 2000. Bear Stearns was his seed investor when he started Hayground Cove."

Hayground Cove said they are supportive of the efforts, business initiatives and management of the company.

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