Cannell Capital Reveals Moves In ValueVision Media Inc (VVTV), and Hooper Holmes, Inc. (HH)

Carlo Cannell's hedge fund, Cannell Capital has revealed recently some moves made in ValueVision Media Inc (NASDAQ:VVTV), and Hooper Holmes, Inc. (NYSEMKT:HH). The fund has reported the sale of 4,200 shares of ValueVision, at the price of $5 apiece. The shares have been held by Clinton Group, with whom Cannell formed an activist group earlier this year. Following the sale, the amount of shares held by Clinton amounts to 3.1 million.

Carlo Cannell

Cannel and Clinton activist group, in aggregate, hold around 10% of ValueVision Media Inc (NASDAQ:VVTV)'s common stock. The group formed in the beginning of November agreed to disclose together the moves made in their positions as well as to consult with each other in regard to acquiring new shares of the company or sale of stock. The group also demanded a shareholder's meeting, where the stockholders of ValueVisioun should have voted to elect new directors for the company's board. However, later, the electronic retailer company, ValueVision Media Inc (NASDAQ:VVTV), informed the group that the request does not comply with the company's By-laws and Minnesota law, according to a press release. The company also stated that the Cannell-Clinton group does not hold enough voting power to satisfy the thresholds for such a request to be approved. Aside from Clinton and Cannell, Par Capital Management, led by Paul Reeder and Edward Shapiro, revealed ownership of some 3.6 million shares of ValueVision in its latest 13F, the value of the stake amounting to $15.5 million. In Hooper Holmes, Inc. (NYSEMKT:HH), Cannell revealed, via a new form 4, acquiring around 27,200 shares, increasing the holding to a total of approximately 10.4 million. The shares have been bought in two transactions, the average price amounting to $0.53 per share. Cannell has been buying shares of Hooper Holmes, Inc. (NYSEMKT:HH) over the past couple of weeks, the previous transaction being reported on Monday when the fund revealed adding 304,600 shares to the position at an average price of $0.54 apiece, raising it to a total of 10.35 million shares. Disclosure: none Recommended Reading: Mario Gabelli, GAMCO Are Bullish on Nathan’s Famous, Inc. (NATH) American International Group Inc (AIG), Citigroup Inc (C) Among 5 Financial Stocks That Hedge Funds Love Carl Icahn Is Bullish on Nuance Communications Inc. (NUAN) & Increases Stake to 18.7%
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