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Cannell Capital Raises Holding in Hooper Holmes, Inc. (HH) Even Higher

Cannell Capital, a hedge fund led by J. Carlo Cannell, has acquired some more shares of Hooper Holmes, Inc. (NYSEMKT:HH). According to a new filing with the SEC, Cannell raised its position in Hooper to a total of over 10.68 million shares, via acquiring some 143,100 shares. The stock was purchased in two transactions, the price amounting to $0.51 per share.

Carlo Cannell

Hooper Holmes, Inc. (NYSEMKT:HH) had around 70.1 million shares outstanding, at the end of October, according to its latest 10-Q report. In this way, Cannell’s holding currently amasses around 15.2% of the company’s common stock. The fund has been loading on Hooper Holmes shares during the past couple of months.

Cannell revealed in its latest 13F owning around 9.95 million shares of Hooper Holmes, Inc. (NYSEMKT:HH) at the end of September, the holding being increased by 11% over the quarter. In some earlier filings, the fund disclosed purchasing 304,600 shares,  27,200 shares, and 163,600 respectively, the last transaction being reported last week.

Since Cannell is a hedge fund with a strong focus on small-cap companies, so the $35.7 million market cap Hooper Holmes, Inc. (NYSEMKT:HH) falls under this category. The stock has been gaining ground, and since the beginning of the year advanced by over 28%. The company reported a decline in its revenues by 11% on the year to $11 million in the third quarter. The net loss of the company, however improved and totaled $1.7 million, versus a loss of $2.2 million in the same period of last year.

Renaissance Technologies, managed by Jim Simons is another hedge fund, which holds 869,900 shares of Hooper Holmes, Inc. (NYSEMKT:HH), worth $409,000 as of the end of September. Ken Griffin‘s Citadel Investment Group disclosed an $18,000 stake, which amasses 39,108 shares, the position being initiated during the third quarter.

While Cannell keeps his ‘bulishness’ on Hooper Holmes, Inc. (NYSEMKT:HH), he has been trimming some of his other holdings. One of them is Crumbs Bake Shop Inc (NASDAQ:CRMB), in which Cannell recently revealed cutting its position to 1.2 million shares, after selling 378,000 shares.

Disclosure: none

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