Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

J. Carlo Cannell’s Fund Ups Position in Hooper Holmes, Inc. (HH); Reiterates Stake in Global Telecom & Technology, Inc. (GTT)

J. Carlo Cannell‘s small-cap focused hedge fund, Cannell Capital, has disclosed increasing its position in Hooper Holmes, Inc. (NYSEMKT:HH) via acquiring some 163,600 shares. Following the two deals, Cannell upped its stake in the company to around 10.54 million shares. The securities have been purchased in two transactions, the average price amounting to $0.50 per share.

Carlo Cannell

According to the latest 10-Q report of the company, Hooper Holmes, Inc. (NYSEMKT:HH) has around 70.1 million shares outstanding, which means that Cannell’s stake amasses around 15% of the common stock. Cannell has been bullish on Hooper Holmes recently, the latest disclosure of acquisition of shares being the fifth in the past couple of months. The fund managed to strengthen its position in the company from some 9.95 million shares reported in the latest 13F as held at the end of September. Since about a year ago, Cannell succeeded to boost significantly the holding from some 4.45 million held at the end of September 2012.

The stock of Hooper Holmes, Inc. (NYSEMKT:HH) has gained over 25% since the beginning of the year. In the January-September period, the company showed a small decline in its revenues, which totaled $34.2 million, versus $35.8 million in the same period of last year. However, the net loss of the company narrowed to $9.3 million, equal to $0.13 per share, from $10.9 million for the first nine months of 2012. Earlier this year, Hooper Holmes, a risk assessment company, has sold its Portamedic service line to American Para Professional Systems, Inc., gaining around $8.1 million in cash.

Aside from Cannell, Jim Simons‘s Renaissance Technologies disclosed a much smaller stake in Hooper Holmes, Inc. (NYSEMKT:HH) as at the end of September. Renaissance owns 869,900 shares, with an aggregate value of $409,000. At the same time, Royce & Associates, managed by Chuck Royce has sold out its holding in the company during the third quarter, after previously holding around over 1.8 million shares.

In another filing, Cannell reiterated its stake in Global Telecom & Technology, Inc. (NYSEMKT:GTT). The fund currently holds  14.75% of the company’s common stock, which represents some 3.43 million shares. Earlier in October, Cannell reported disposing 4,800 shares of the company.

In the past couple of weeks, in addition to its moves in Hooper Holmes, Inc. (NYSEMKT:HH), Cannell has changed its holdings in some other companies, such as ZipRealty, Inc.(NASDAQ:ZIPR), where the fund currently holds slightly above 1.0 million shares, trimming the position from 1.15 million shares. The fund has also sold 378,000 shares of Crumbs Bake Shop Inc (NASDAQ:CRMB), reducing the stake to below 1.2 million shares.

Disclosure: none

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.