Hummingbird buys 400,000 shares of American Community Newspapers

By Lisa Kerner

Charlotte, N.C., Aug. 14 - American Community Newspapers Inc. investors led by Hummingbird Management, LLC purchased 396,603 shares of the company's stock between June 27 and Aug. 8, priced from $4.30 to $5.64 per share and sold 690,000 shares at $5.70.

The reporting persons own 396,603 shares of common stock, or some 2.6% of the company's outstanding common stock. The calculation of the shares above assumes the exercise by the reporting parties of 743,000 presently exercisable warrants, according to a schedule 13D filing with the Securities and Exchange Commission. That brings the total potential stake to 1,139,603 shares, or 7.4%.

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