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Build A Bear Workshop Inc (BBW): Cannell Capital Decrease Its Stake

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According to a newly-amended 13D filing with the US SEC, J. Carlo Cannell‘s Cannell Capital sold 217,782 common shares of Build A Bear Workshop Inc (NYSE:BBW), and now owns 581,268 shares, which account for 3.71% of the company’s outstanding stock. In addition, Cannell Capital reported that it will continue to hold the shares as a long-term investmentt and still holds its rights to engage in discussions with the management of the company and take necessary actions in order to achieve the maximum value of the shares.

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Build a Bear Workshop is a retailer that makes and sells teddy bears together with other stuffed animals, offering its costumers opportunity to create their own stuffed animal through an interactive process while visiting the store. Year-to-date, the Build-A-Bear Workshop’s stock is up by 8.33%. For the first quarter of 2016, the company reported earnings per share of $0.22 and revenue of $95 million, missing the estimates of $0.37 and $96.7 million, respectively. Recently, Build a Bear has added new characters to their stuffed animal catalog inspired by beloved series, Star Wars, so now customers can buy toys like stuffed Yoda.

Among the hedge funds followed by Insider Monkey, at the end of March, Cannell Capital held the most valuable position in Build a Bear Workshop (NYSE:BBW) worth around $10.44 million, and Jim Simons’ Renaissance Technologies was on its heels, with a position valued at almost $8.31 million. Other investors that are bullish on this stock are Jack Ripsteen’s Potrero Capital Research, Brian C. Freckmann’s Lyon Street Capital, and Chuck Royce’s Royce and Associates.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
J. Carlo Cannell 587,268 0 587,268 0 587,268 3.71%

J. Carlo Cannell
J. Carlo Cannell
Cannell Capital

Page 1 of 8 – SEC Filing



SECURITIES AND EXCHANGE COMMISSION



Washington, D.C. 20549



SCHEDULE 13D



Under the Securities Exchange Act of 1934



(Amendment No. 3 )
1


Build-A-Bear Workshop, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

120076104

(CUSIP Number)

J. Carlo Cannell

Cannell Capital LLC

245 Meriwether Circle

Alta, WY

83414

(307) 733-2284

(Name, Address and Telephone Number of Person

to Receive Notices and Communications)

May 5, 2016

(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 §§240.13d-1(e), 240.13d-1(f)
or 240.13d-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 §240.13d-7
for other parties to whom copies are to be sent.

(Continued on following pages)

(Page 1 of 8 Pages)

______________________

* The remainder of this cover page shall be filled out for a reporting person’s
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter disclosures
provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the Notes).

Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a current
valid OMB control number.

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