Fund 1 Investments Raises Stake in Tilly's

Fund 1 Investments raises its stake in the casual-apparel retailer

Fund 1 Investments has increased its stake in Tilly’s, the casual-apparel retailer, and now owns a total of 6,806,805 shares. The increase was made through the purchase of 274,702 Tilly’s shares between December 12, 2023, and January 11, 2024. The shares were bought at prices ranging from $7.11 to $7.61 per share. Fund 1 Investments initially filed as a passive investor (13G filer) but later transitioned to an active investor (13D filer) on March 10, 2023. Since then, they have been actively increasing their stake in Tilly’s.

Currently, Fund 1 Investments owns 30% of the outstanding stock of Tilly’s. However, despite their increased stake, Tilly’s shares have underperformed the market, falling by 17% last year compared to a 24% rise in the S&P 500 index.

Decreases in Holdings

Freshpet

Jana Partners reduces its stake in the pet-food maker

Jana Partners has decreased its stake in Freshpet, the pet-food maker, and now holds a total of 2,383,150 shares. The reduction was made through the net sale of 676,429 Freshpet shares between November 14, 2023, and January 10, 2024. The shares were sold at per-share prices ranging from $69.73 to $87.35. Following these recent sales, Jana Partners now holds just below the 5% threshold required for public disclosure of further Freshpet stock sales.

Freshpet has had a strong performance, with shares surging by 64% in 2023. In November, the company reported a narrower-than-expected third-quarter loss, which contributed to the increase in its share price.

Franklin Street Properties

KBS Strategic Opportunity REIT has recently decreased its stake in Franklin Street Properties, a commercial real estate investment trust. The reduction resulted in KBS selling 1,701,628 Franklin Street shares at prices ranging from $2.55 to $2.62 per share between December 27, 2023, and January 10, 2024. As a result, KBS now holds a 5% stake in Franklin Street, based on the 103.4 million shares outstanding as reported in its Form 10-Q on November 2, 2023.

Interestingly, as of January 10, 2024, it was noted that KBS no longer owns more than 5% of Franklin Street's outstanding stock. Consequently, KBS is no longer required to report any further sales of Franklin Street stock. It is worth mentioning that the shares experienced a decline of 6.2% throughout the year 2023.

Agilysys

MAK Capital has made adjustments to its stake in Agilysys, an enterprise technology company. The reduction resulted in MAK Capital's affiliates selling a combined total of 371,829 Agilysys shares between December 14, 2023, and January 12, 2024. The shares were sold at prices ranging from $75.59 to $83.27 per share.

These recent sales are part of a larger plan that MAK Capital adopted with BTIG. The plan allows for the sale of up to 867,728 Agilysys shares between August 1, 2023, and May 1, 2024. After these latest sales, MAK Capital currently holds approximately 11.3% of Agilysys' outstanding stock. Notably, the shares witnessed a gain of 7.2% last year.

ANI Pharmaceuticals

Esjay, an investment firm, has reduced its stake in ANI Pharmaceuticals, a generic prescription pharmaceutical company. Esjay achieved this reduction by selling 77,095 ANI Pharmaceuticals shares between November 15, 2023, and December 19, 2023. The shares were sold at prices ranging from $51 to $53.64 per share. It is important to note that these sales were part of a sales plan implemented by Esjay in March 2023, with the execution price being above $51 per share.

As a result of the sale, Esjay's current stake in ANI Pharmaceuticals stands at 932,620 shares.

Title: Esjay Acquires 4.6% Stake in ANI, Shares Surge by 37%

Esjay, a prominent investment firm, recently acquired a 4.6% stake in ANI, falling just below the 5% threshold that necessitates the disclosure of further ANI stock sales. This move has generated significant excitement in the market, leading to a remarkable 37% surge in ANI's shares in 2023.

According to a recent report by Guggenheim analyst Vamil Divan, ANI's third-quarter performance was truly impressive. As a result, the analyst lowered the price target slightly to $70 from $72 while maintaining a Buy rating.