Cannell Capital Further Reduces Position in Crumbs Bake Shop Inc (CRMB)

Carlo Cannell‘s Cannell Capital has sliced its position in Crumbs Bake Shop Inc (NASDAQ:CRMB). According to a newly amended filing with the Securities and Exchange Commission, Cannell currently owns approximately 896,600 shares of the company, down from 1.03 million held earlier. The stake is activist by nature and amasses 7.45% of the common stock.

Carlo Cannell

 

Earlier in November, Cannell reported reducing its exposure to Crumbs Bake Shop, Inc. (NASDQ:CRMB) to 1.16 million shares via selling 378,000 shares at a price of $0.98 apiece. Later, the fund further cut the stake to 1.03 million shares, which represented 8.53% of the company’s common stock.

In December, Crumbs Bake Shop, Inc. (NASDQ:CRMB), a cupcake specialty retailer, announced appointment of  Edward M. Slezak, as interim Chief Executive Officer, after Julian R. Geiger, stepped down as President and CEO, of the company. In third quarter of 2013 results the net loss of the company was $5.7 million, as compared to $1.1 million a year ago. Comp store sales declined 17.2%. Adjusted EBITDA was reported to be negative of $3.1 million in the quarter, versus negative of $1.2 million in the third quarter of 2012.

Buckingham Capital Management, led by David Keidan, sliced its stake in Crumbs Bake Shop, Inc. (NASDQ:CRMB) by 10% in the third quarter of 2013, and now holds 872,608 shares, representing a value of $977,000. Another hedge fund that we track holding a stake in the company is P.a.w. Capital Partners, managed by Peter A. Wright, which owns 665,000 shares.

Carlo Cannell’s Cannell Capital, focuses on small cap companies. The fund has been accumulating shares of Hooper Holmes, Inc. (NYSEMKT:HH), in the first week of December, it accumulated 27,200 shares, bought at an average price of $0.53 per share. Later, the fund, further boosted its stake by, acquiring another 163,600 shares at a price of $0.50 per share, and 143,100 shares, at a price of $0.51 per share, raising its holding to 10.68 million shares.

Disclosure: none

Recommended Reading:

Hedge Fund News: Paul Singer, Larry Robbins & Chris Hohn

Royce & Associates’ Latest Moves Also Involve R.G. Barry Corp. (DFZ), Atrion Corporation (ATRI) & Arden Group, Inc. (ARDNA)

Warren Lichtenstein Receives Some ModusLink Global Solutions, Inc. (MLNK) Shares

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!