Premier Exhibitions soars on Goldman Sachs disclosure

Premier Exhibitions, Inc. (Nasdaq: PRXI) shares are soaring after investment bank Goldman Sachs Group, Inc. (NYSE: GS) disclosed in a regulatory filing that it owns a 7.8% stage in Premier, a developer of museum exhibits.

In a 13G — a form filed with the Securities and Exchange commission to report a party’s ownership over 5% of a company — Goldman disclosed that it owns about 2.3 million shares, or approximately 7.8% of PRXI shares.

Investors on Internet message boards speculated that the Goldman announcement and subsequent spike in stock price may have cause traders to cover their shorts, which boosted PRXI shares even higher.

Calls to the Atlanta, Ga.-based company, which is responsible for the controversial Bodies exhibit, were not immediately returned.

In today’s trading, PRXI shares soared 23.03%, or $1.40, at $7.48. Over the last 52 weeks, shares have ranged from $5 to $18.62.

For access to the full article, you must be a registered member - it's FREE.

Already a member? Please log in below