According to a newly-amended 13D filing with the US Securities and Exchange Commission, J. Carlo Cannell‘s Cannel Capital owns almost 4.0 million shares of Evine Live Inc. (NASDAQ:EVLV), which represent 6.99% of the company’s outstanding stock. This is slightly less compared to 4.61 million shares Cannel Capital held at the end of the December of 2015, as reported in a previous 13F filing. It was also revealed in a 13D filing that Cannel Capital is satisfied with their investment in the company and that it will continue to hold the shares as a long term investment, while reserving their rights to become active in the management of the company, in order to achieve the maximum value of the shares.
Evine Live Inc. (NASDAQ:EVLV) is a digital commerce company that markets and sells various consumer products through different forms of media, including online, TV, and mobile. Over the past 12 months the company’s shares have dropped by 77.3%. For fourth quarter of 2015, Evine Live Inc (NASDAQ:EVLV) reported earnings per share of $0.01, which was in line with expectations, while its revenue of of $211.54 million managed to beat the estimates of $210.02 million.
Among the hedge fund tracked by Insider Monkey, aside Cannel Capital, 11 investors reported long positions in Evine Live Inc. (NASDAQ:EVLV) as of the end of 2015. Jeffrey Bronchick’s Cove Street Capital held the most valuable position worth about $9.56 million in stock. Other investors that were bullish on this stock are Paul Reeder and Edward Shapiro’s PAR Capital Management, George Hall’s Clinton Group, and Phil Frohlich’s Prescott Group Capital Management.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|J. Carlo Cannell||3,997,549||0||3,997,549||0||3,997,549||6.99%|
Page 1 of 7 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No.1 )
EVINE Live Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
J. Carlo Cannell
Cannell Capital LLC
245 Meriwether Circle
(Name, Address and Telephone Number of Person
to Receive Notices and Communications)
April 6, 2016
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is
the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f)
or 240.13d-1(g), check the following box. ☑
Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See §240.13d-7
for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 7 Pages)
* The remainder of this cover page shall be filled out for a reporting person’s
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter disclosures
provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the Notes).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a current
valid OMB control number.