Hirzel Capital Management Reiterates the Stake in Aeropostale Inc (ARO)

Hirzel Capital Management, led by Zac Hirzel, reiterated their stake in Aeropostale Inc (NYSE:ARO). According to the filing, the fund currently holds 4.73 million shares. The passive stake amasses 6% of the company’s outstanding common stock.

Aeropostale, Inc. (NYSE:ARO)

 

In mid-November the fund had raised its stake to 4.73 million shares from 4.5 million shares. At that time, the fund disclosed an activist stake and stated that it intends to enter into negotiations with the management of Aeropostale in order to increase the value of the stock for the shareholders. According to the new filing, the nature of the stake has been changed back to passive.

Aeropostale Inc (NYSE:ARO) is a specialty retailer of casual apparel and accessories.  In the first week of January, Aeropostale partnered “with Warner Bros. and Pretty Little Liars costume designer/stylist Mandi Line to launch the Pretty Little Liars Collection by Aeropostale.” Last month the company had partnered with Bethany Mota to launch The Bethany Mota Collection.

For the fourth quarter of 2013, the company expects to post a net loss in the range of $0.24 to $0.32 per diluted share. For fiscal year 2014, the company plans to remodel around 26 Aeropostale stores, and shut down approximately 40 to 50 Aeropostale stores. The total value of the investment is expected to amount to $35.0 million in FY14.

In September, Tiger Consumer Management, led by Patrick McCormack, upped its stake in Aeropostale Inc (NYSE:ARO), to 6.4 million shares, by purchasing some 2.9 million shares. Eminence Capital, managed by Ricky Sandler, also holds some 4.21 shares of the company. Another hedge fund, bullish on the stock is Matt Sirovich and Jeremy Mindich’s Scopia Capital, which holds 3.97 million shares, worth $37.34 million.

Karin Hirtler-Garvey, director at Aeropostale Inc (NYSE:ARO), sold 16,875 shares in August, and currently holds 54,557 shares. Hawaiian Holdings, Inc. (NASDAQ:HA), informed Zac Hirzel in a letter saying it “will take all necessary action to appoint” him as a director before the next meeting of the Board. Following the election to the board, he will become the 13th director. Zac Hirzel has been boosting its stake in Hawaiian Holdings and now holds 5.7 million shares.

Earlier the fund has also invested in WPX Energy Inc (NYSE:WPX) and of which it currently owns 2.5 million shares, worth $48.08 million.

Disclosure: none

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