Solas Capital Management Reported increased Stake in Hg Holdings, Inc
Solas Capital Management filed with SEC a SC 13D/A form for Hg Holdings, Inc. It can be found at: 000091957419007558. As reported by Solas Capital Management, the filler increased its stake in the stock by 7.71 % for 3,414,343 shares. Solas Capital Management currently owns 22.8% of the Consumer Discretionary- stock. Date of activity: December 2, 2019.
Reasons Why Solas Capital Management Holds Hg Holdings, Inc
Purpose of Transaction
The Reporting Persons originally purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.
The Reporting Persons have periodically engaged in, and may continue to engage in, discussions with management and the Board of Directors of the Issuer (the “Board”) as well as other stockholders and third parties concerning the business, operations, assets and future plans of the Issuer.
No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon completion of any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, further communications with management and the Board of the Issuer, nominating or recommending candidates to serve as members of the Board, having discussions with other stockholders and potential nominees to the Board, making proposals to the Issuer concerning changes to the capitalization, ownership structure or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in Item 4.
Hg Holdings, Inc Institutional Sentiment
Filings show 24 investors own Hg Holdings, Inc. The ownership in Q3 2017 is low, at Infinity of the outstanding shares. This is increased by 1016533. 4371024 were owned by these investors. 4 funds opened new Hg Holdings, Inc stakes, 4 increased positions. There were 2 that closed positions and 7 reduced them.
Malaga Cove Capital Llc is an investor bullish on Hg Holdings, Inc, owning 38000 shares as of Q3 2017 for 0.03% of its portfolio. Donald Smith & Company Inc owns 120892 shares or less than 0.01% of its portfolio. VA Thompson Davis & Co have 0.46% of its portfolio for 220250 shares. Further, Weber Alan W reported stake worth 0.03% of its portfolio. The VA Heritage Wealth Advisors owns 829357 shares. Hg Holdings, Inc is 0.49% of its portfolio.
SEC Form 13D.
The stock increased 0.49% or $0.0027 during the last trading session, reaching $0.56. About 22,756 shares traded or 6.65% up from the average. HG Holdings, Inc. (OTCMKTS:STLY) has 0.00% since December 5, 2018 and is . It has by 0.00% the S&P500.
Stanley Furniture Company, Inc. designs, makes, and markets residential wood furniture products worldwide. The company has market cap of $8.39 million. It offers upscale wood residential home furnishings, including dining, bedroom, living room, home office, home entertainment, and accent items, as well as nursery and youth furniture. It has a 15.56 P/E ratio. The firm sells its furniture under the Stanley Furniture and Stone & Leigh brands, as well as under a licensing agreement with Coastal Living magazine through independent sales representatives to various wholesale customers, such as furniture stores, interior design and architecture professionals, decorators, smaller specialty retailers, regional furniture chains, buying clubs, and e-commerce retailers.
More important recent HG Holdings, Inc. (OTCMKTS:STLY) news were published by: Seekingalpha.com which released: “BNP Paribas SA 2019 Q2 – Results – Earnings Call Slides – Seeking Alpha” on August 02, 2019, also Seekingalpha.com published article titled: “HG Holdings: This 50-Cent Stock Has About $1 In Assets And A Potential Game-Changing Catalyst – Seeking Alpha”, Seekingalpha.com published: “Stanley Furniture Sold Its Business And Trades Cheaply – Now HG Holdings – Seeking Alpha” on May 23, 2018. More interesting news about HG Holdings, Inc. (OTCMKTS:STLY) was released by: Seekingalpha.com and their article: “Stanley Furniture announces closing of sale of substantially all of its assets – Seeking Alpha” with publication date: March 05, 2018.
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