Highbridge reports 7.12% stake in WCI Communities

By Lisa Kerner

Charlotte, N.C., March 16 - WCI Communities Inc. investor Highbridge Capital Management, LLC beneficially owns 2,989,500 shares, or 7.12%, of the company's stock, according to a schedule 13D filed with the Securities and Exchange Commission.

Highland Capital affiliate Highbridge Event Driven/Relative Value Fund, Ltd. purchased 510,819 shares priced between $21.61 and $22.24 on March 13 and March 14.

Highbridge International bought 803,060 shares from Jan. 11 to March 14 priced from $20.24 to $22.99.

WCI is a Bonita Springs, Fla., builder of master-planned lifestyle communities. Its stock (NYSE: WCI) closed at $21.91 on Friday.

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