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 44 percentage points in 21 months Learn how!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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!