Whitney Tilson, T2 Partners Close Stake in dELiA*s, Inc. (DLIA)

Whitney Tilson, the manager of T2 Partners, cashes in on dELiA*s, Inc. (NASDAQ:DLIA). According to a recent filing with the Securities and Exchange Commission, Tilson has sold approximately 3.8 million shares and has closed his fund's position. At the end of the third quarter, dELiA*s stock was the 4th biggest equity position and accounted for 7.25% of the fund's equity portfolio. dELiA*s, Inc. (NASDAQ:DLIA) Glenn J. Krevlin is a fan of dELiA*s, Inc. (NASDAQ:DLIA). During the third quarter, his fund, Glenhill Advisors, initiated a new position in the stock, acquiring approximately 3 million shares valued at $3.6 million. Chuck Royce is also bullish on this stock, having increased his fund's holding by 8% during Q3. According to its latest 13F report, Royce & Associates holds 2.4 million shares reportedly worth$ 2.9 million. Mark N. Diker is keeping an eye on dELiA*s as well. His fund, Diker Management, holds 520,495 shares valued at approximately $630,000. dELiA*s, Inc. (NASDAQ:DLIA) operates as an apparel retail company in the United States. So far this year, the stock has been trending sideways in the $0.6-$1.8 range. With a current share price of $1.01, the company has a market cap of $49 million. The stock has a beta of 1.30 and does not pay a dividend. For the third quarter of 2013, dELiA*s posted disappointing financial results. The company registered revenues of $33 million, a 28.8% year-over-year decrease.  dELiA*s also posted a loss per share of $0.40, down from a loss of $0.06 per share reported for the same period in 2012. Tracy Gardner, Chief Executive Officer, said:
We significantly reduced inventory levels by taking aggressive markdowns in order to work through underperforming legacy merchandise. However, we were encouraged by the strong customer response to the newness we have been able to deliver thus far. We plan to continue to bring in new product that is more differentiated to the dELiA*s customer in December and more notably in the first quarter.
Disclosure: none Recommended reading: Blue Mountain Capital Increase Stake in Lexmark International Inc (LXK) Ken Griffin And Citadel Add to Their Position in Finisar Corporation (FNSR) Cannell Capital Reveals Moves In ValueVision Media Inc (VVTV), and Hooper Holmes, Inc. (HH)
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