Serengeti Asset Management Discloses 5% Stake in Downey Financial (DSL)
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In a 13G filing this morning on Downey Financial (NYSE: DSL), Serengeti Asset Management disclosed a 5% stake (1.4 million share) in the company. The firm did not show a stake in DSL at the quarter ended March 31, 2008.
Shares of Downey Financial are trading just above 52-week low levels.
Downey Financial Corp. operates as the holding company for Downey Savings and Loan Association, F.A. that provides various financial services to individual and corporate customers. It attracts funds from the general public and institutions; and originates and invests in loans, such as residential real estate mortgage loans, investment securities, and mortgage-backed securities; and originates and sells loans to investors in the secondary markets.
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