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#280822 - 12/08/03 04:28 PM CU Stock: Now we know why. But what does it Mean For the Future?
vayank
The Amazing Card-Man


Registered: 04/13/02
Posts: 948
Loc: Alexandria, Va

Offline
I would have posted this on the PSA boards for the intelligent comments, but the trolls would side track the conversation.

An institutional purchase of stock is routine and getting advice is too. But if you read the purpose of the acquisition, some siesmic changes are in play.

Hummingbird through their various funds have pumped $2 million in the stock. They now have has scooped up 7.5% of the stock. This events explains the stock spike. The SEC has other filings on CU related to directors receiving 15,000 shares or options for their benefit. Those filings are largely the same, so I will just post one of them.



SC 13D

clct13d-031119.txt



SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

SCHEDULE 13D
(RULE 13D-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO
FILED PURSUANT TO RULE 13d-2(a)



Collectors Universe, Inc.

(NAME OF ISSUER)

Common Stock, par value $.001 per share

(TITLE OF CLASS OF SECURITIES)

19421R200

(CUSIP NUMBER)

Paul D. Sonkin
Hummingbird Management, LLC
(f/k/a Morningside Value Investors, LLC)
153 East 53rd Street, 55th Floor
New York, New York 10022

(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)



Novevember 14, 2003

(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)


If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. [ ]

Note: Schedules filed in paper format shall include a signed original and
five copies of the Schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.


(Continued on following pages)


(Page 1 of 5 pages)

------------------- ----------------
CUSIP No. 19421R200 13D Page 2 of 5 Pages
------------------- -----------------


----------------------------------------------------------------
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

Hummingbird Management, LLC
(f/k/a Morningside Value Investors, LLC)
IRS No. 13-4082842
----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A GROUP* (a) [ ]
(b) [ ]

----------------------------------------------------------------
3. SEC USE ONLY

----------------------------------------------------------------
4. SOURCES OF FUNDS

OO
----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ]
----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware
----------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER 459,822
SHARES
--------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY
--------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 459,822
REPORTING
------------------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0

--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
459,822
----------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES * [ ]

----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 7.4%

----------------------------------------------------------------
14. TYPE OF REPORTING PERSON*

OO
----------------------------------------------------------------
(Page 2 of 5 pages)

-------------------
CUSIP No. 19421R200 13D Page 3 of 5 Pages
-------------------

ITEM 1 SECURITY AND ISSUER

Title of Class of Securities

Common stock $.001 par value per share (the "Shares")

Name and Address of Issuer

COLLECTORS UNIVERSE, INC. (the "Company" or the "Issuer")
1921 E. Alton Avenue
Santa Ana, California 92705

ITEM 2 IDENTITY AND BACKGROUND

This statement is being filed by Hummingbird Management, LLC (f/k/a
Morningside Value Investors, LLC), a Delaware limited liability
company("Hummingbird"), whose principal business and principal office
address is 153 East 53rd Street,55th Floor, New York, New York 10022.
Hummingbird acts as investment manager to The Hummingbird Value Fund,
L.P. ("HVF") and to The Hummingbird Microcap Value Fund, L.P.
(the "Microcap Fund") and has the sole investment discretion and voting
authority with respect to the investments owned of record by each of HVF
and Microcap Fund. Accordingly, Hummingbird may be deemed for purposes of
Rule 13d-3 of the Securities and Exchange Act of 1934, as amended
("Rule 13d-3"), to be the beneficial owner of the Shares owned by HVF
and Microcap Fund. The managing member of Hummingbird is Paul Sonkin.
Mr. Sonkin is also the managing member of Hummingbird Capital, LLC
(f/k/a Morningside Capital, LLC) ("HC"), the general partner of HVF
and Microcap Fund.

Both HVF and Microcap Fund are Delaware limited partnerships whose
principal business and principal office address is 153 East 53rd Street,55th
Floor, New York, New York 10022 and whose principal business is investing in
securities in order to achieve its investment objectives. Mr. Sonkin is a
citizen of the United States and HC is a Delaware limited liability company.
The principal business and principal office address of both Mr. Sonkin and
HC is 153 East 53rd Street, 55th Floor, New York, New York 10022.

During the past five years none of Hummingbird, HVF, Microcap Fund,
Mr. Sonkin or HC has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or has been a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of which any of the foregoing was or is
subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, Federal or State
securities laws, or finding any violation with respect to such laws.

(Page 3 of 5 pages)

-------------------
CUSIP No. 19421R200 13D Page 4 of 5 Pages
-------------------

ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

As of November 19, 2003, Hummingbird has caused each of HVF and
Microcap Fund to invest approximately $1,379,846 and $731,090, respectively,
in the Shares of the Issuer using their respective working capital.


ITEM 4 PURPOSE OF TRANSACTION

The Shares were acquired for investment purposes. However, Hummingbird
may hold talks or discussions with various parties, including, but not limited
to, the Issuer's management, its board of directors and other shareholders on a
variety of possible subjects regarding ways to increase shareholder value. Some
of the suggestions Hummingbird might make may affect control of the Issuer
and/or may relate to the following: the merger, acquisition or liquidation of
the Issuer, the sale or transfer of the assets of the Issuer, a change in the
board of directors or the management of the Issuer, a change in the present
capitalization or dividend policy of the Issuer or a change in the Issuer's
charter or by-laws. Hummingbird intends to pay close attention to developments
at and pertaining to the Issuer, and, subject to market conditions and other
factors deemed relevant by Hummingbird, Hummingbird may, directly or
indirectly, purchase additional Shares of the Issuer or dispose of some
or such Shares in open-market transaction or privately negotiated transactions.

ITEM 5 INTEREST IN SECURITIES OF THE ISSUER

(a) - (b) As the holder of sole voting and investment authority over
the Shares owned by HVF and the Microcap Fund, Hummingbird may be deemed, for
purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended,
to be the beneficial owner of the aggregate amount of 459,822 Shares
representing approximately 7.4% of the outstanding shares of the Issuer
(based upon 6,196,907 shares outstanding as of November 14, 2003, as reported
on the latest Definitive Schedule 10-Q of the Issuer). Hummingbird disclaims
any economic interest or beneficial ownership of the Shares covered by this
Statement.

Mr. Sonkin is the managing member and control person of Hummingbird,
and for purposes of Rule 13d-3 may be deemed the beneficial owner of such
Shares deemed to be beneficially owned by Hummingbird. Thus, Mr. Sonkin may be
deemed, for purposes of Rule 13d-3, to be the beneficial owner of 459,822
shares representing approximately 7.4% of the outstanding shares of the Issuer
(based upon 6,196,907 shares outstanding as of November 14, 2003, as reported
on the latest Definitive Schedule 10-Q of the Issuer). Hummingbird disclaims
any economic interest or beneficial ownership of the Shares covered by this
Statement.

(Page 4 of 5 pages)

-------------------
CUSIP No. 19421R200 13D Page 5 of 5 Pages
-------------------

(c) Hummingbird caused the HVF to effect transactions in the Shares
during the past 60 days as set forth below:




AMOUNT OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------

9/30/03 open market purchase 500 3.640
10/9/03 open market purchase 700 3.449
10/10/03 open market purchase 1,800 3.503
10/13/03 open market purchase 861 3.625
10/17/03 open market purchase 6,000 3.669
10/23/03 open market purchase 1,600 3.749
10/24/03 open market purchase 11,898 3.802
10/29/03 open market purchase 9,701 3.799
11/14/03 open market purchase 33,019 4.439
11/14/03 open market purchase 37,241 4.714




Hummingbird caused the Microcap Fund to effect transactions
in the Shares during the past 60 days as set forth below:



AMOUNT OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------


10/9/03 open market purchase 600 3.449
10/10/03 open market purchase 1,400 3.503
10/13/03 open market purchase 639 3.625
10/17/03 open market purchase 4,129 3.669
10/23/03 open market purchase 1,200 3.749
10/24/03 open market purchase 8,752 3.802
10/29/03 open market purchase 7,199 3.799
11/14/03 open market purchase 37,912 4.439
11/14/03 open market purchase 42,759 4.714






(d) Inapplicable.

(e) Inapplicable.

ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER

Not applicable.

ITEM 7 MATERIAL TO BE FILED AS EXHIBITS

Not applicable.



SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Dated: November 19, 2003

HUMMINGBIRD MANAGEMENT, LLC

By: /s/ Paul D. Sonkin
-----------------------------
Name: Paul D. Sonkin
Title: Managing Member








_________________________
---- Matthew T. Natale Alexandria, Virginia Completed 1977 Topps Baseball SGC Graded Set, Average Grade 92.89

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#280823 - 12/08/03 04:54 PM Re: CU Stock: Now we know why. But what does it Mean For the Future? [Re: vayank]
srs1a
Old, dense-headed hammers are cool. Best nail pounders.


Registered: 08/15/02
Posts: 987
Loc: NY

Offline
Yank, why do you care enough to do this level of research? I could give a flying something about this.
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#280824 - 12/08/03 05:01 PM Re: CU Stock: Now we know why. But what does it Mean For the Future? [Re: srs1a]
vayank
The Amazing Card-Man


Registered: 04/13/02
Posts: 948
Loc: Alexandria, Va

Offline
Scott, it took two minutes to find this. www.Fec.gov, click on filings, punch in company name. I go there about monthly to research stock purchase prospects. Got curious, and there you go.

Anyway, the strike through on the stock purchases should not be there. I don't why they appeared when i cut and pasted this document. Read as if the strike throughs were not there.




Edited by vayank (12/08/03 05:14 PM)
_________________________
---- Matthew T. Natale Alexandria, Virginia Completed 1977 Topps Baseball SGC Graded Set, Average Grade 92.89

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#280825 - 12/10/03 04:17 PM Re: CU Stock: Now we know why. But what does it Mean For the Future? [Re: vayank]
backtomarvel
Collectosaurus Rex


Registered: 01/07/03
Posts: 447

Offline
Is the thinking here that Paul Sonkin is looking to get more control over Collector's Universe? I see they appointed a former U.S. Mint bigwig to their board after all those shares were purchased ...

Do you think he's looking to take the company in a different direction? Say, more heavily into coins? I came down here from the comic forum where the debate was getting livelier and crazier than I've seen it.

I'm curious, though, because I used PSA to grade a couple dozen cards and wonder why CU hasn't taken a shot at being the only serious competitor to CGC?

Anyway, thanks for this info ... I'll be watching ...

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