Glenn J. Krevlin’s Glenhill Advisors revealed in a filing that it has increased its position in Jamba, Inc. (NASDAQ:JMBA) to 888,155 shares from 369,009 shares held earlier. The stake equals to 5.2% of the common stock.
Jamba, Inc. (NASDAQ:JMBA) is a restaurant retailer of better-for-you, specialty beverage and food offerings, with over 851 Jamba Juice store across the globe, recorded as of December 2013.
A couple of weeks back, Jamba, Inc. (NASDAQ:JMBA) reiterated FY2013 guidance, including comparable store sales guidance range of flat to 1%. For FY14 the company expects to deliver company-owned comparable store sales of 2%-4%, store- level margin of 18% to 19%. It will add 1,000 JambaGO™ machine sites and attain income from operations of 2.0% to 3.0%. An improvement of 1% to 2% in operating margins is expected, due to enterprise-wide cost savings initiative.
Earlier, Christopher Shackelton and Adam Gray‘s hedge fund Coliseum Capital disclosed holding a total of 6.1% of the Jamba, Inc. (NASDAQ:JMBA) common stock, its holding amassing over 1.05 million shares.
Millennium Management, led by Israel Englander, also holds 93,408 shares with a reported value of $1.25 million. Mark N. Diker’s Diker Management, is also bullish on Jamba, Inc. (NASDAQ:JMBA), adding the stock to its equity portfolio in the third quarter of 2013.
Glenhill Advisors follows a long/short equity strategy, with a focus on small cap companies.
One of the other company where the fund has shown an acute interest is Lionbridge Technologies, Inc. (NASDAQ:LIOX), where the fund initiated a position in May 2013 and has since then boosted its stake in the company by 1 million shares. It further increased its holding from 8.78 million shares in October to 8.86 million shares in November.
At the end of the third quarter of 2013 the fund had the largest portion of its equity portfolio invested in Motorola Solutions Inc (NYSE:MSI), worth $57.60 million.