The financial regulations require hedge funds and wealthy investors that exceeded the $100 million holdings threshold to file a report that shows their positions at the end of every quarter.
Hedge Funds Are Buying Standex International Corp (SXI) insidermonkey.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insidermonkey.com Daily Mail and Mail on Sunday newspapers.
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Dive Brief:
James Mitarotonda, who heads activist investment firm Barington Capital Group, this week fired off a letter to Chico s, blaming its board for the apparel company s underperformance and urging it to explore strategic alternatives. Soma vastly outpaces its two sibling brands, and its value could exceed the overall company s enterprise value of some $640 million, Barington said in a press release.
In a press release ahead of its first quarter report, Chico s acknowledged its communications with Barington and said it s committed to taking all appropriate actions to improve performance and drive shareholder value.
The next day, Chico s illustrated Barington s point, reporting that Soma s Q1 revenue rose 64.7% from 2020, with Chico s up 34.7% and White House Black Market up 24%. Total comps compared to 2019 fell 21.7%, with Soma up 39.3% and the other two down 32.9% combined.
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