1-800-Flowers (NASDAQ:FLWS) Sees $1.05M Share Acquisition By Pleasant Lake Partners By Investing.com
Pleasant Lake Partners LLC recently increased its stake in 1-800-Flowers.com Inc. (NASDAQ:) through a series of stock purchases. According to a recent SEC filing, the investment firm acquired a total of 126,301 shares of the company’s Class A stock in two transactions. The timing seems strategic, like InvestingPro data shows the stock is up nearly 10% in the past week, and analysts have set a high price target of $14.
The first transaction, dated January 17, involved the purchase of 37,000 shares at an average price of $8.1508 per share. In another transaction, on January 22, 89,301 shares were acquired at an average price of $8.3836 per share. These purchases amount to a total investment of approximately $1.05 million. The company, currently valued at $536 million, is trading near InvestingPro’s fair value ahead of its Jan. 30 earnings report.
Following these transactions, Pleasant Lake Partners now holds a total of 4,668,665 shares of 1-800-Flowers, reflecting continued confidence in the company. The shares are held for the benefit of PLP Funds Master Fund LP, with Pleasant Lake Partners serving as investment advisor. Discover more insights on FLWS and over 1,400 other stocks through comprehensive Pro Research Reports, available exclusively at InvestingPro.
In other recent news, 1-800-FLOWERS.COM reported a 10% year-over-year decline in consolidated revenue in the first quarter of fiscal 2025, attributed to changes in wholesale orders and the impact of e-commerce. Even so, the company is confident of an increase in sales during the holiday season, with initiatives such as exclusive Harry & David pop-up stores at select Macy’s (NYSE: ) locations. During their annual meeting, shareholders elected ten nominees to the board of directors and ratified the appointment of BDO USA, PC as the independent registered public accounting firm for the fiscal year ending June 29, 2025. DA Davidson revised its price target for 1-800-FLOWERS. COM to $7.50 from $7.00 previously, maintaining a Neutral rating on the stock, reflecting the company’s weaker-than-expected performance. The company is maintaining its full-year sales and EBITDA guidance for fiscal 2025, expecting revenue growth to be flat to mid-single-digit decline, with adjusted EBITDA projected between $85 million and $95 million. These are recent developments as 1-800-FLOWERS.COM continues to manage the spending landscape through strategic initiatives and effective cost management.
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