Midwood Capital investors decrease stake in Factory Card & Party Outlet, seek sale of company

By Lisa Kerner

Charlotte, N.C., May 24 - Factory Card & Party Outlet Corp. investors led by David E. Cohen, Ross D. DeMont and Midwood Capital Partners QP, LP plan to continue communicating with management, board members and other stockholders regarding causes of the current undervaluation of the company's stock.

The investors have also discussed strategies to create and maximize shareholder value, including recommending the retention of an investment banker on May 3 to explore a potential sale of Factory Card and Party Outlet, according to a schedule 13D filing with the Securities and Exchange Commission.

Between April 24 and May 23, Midwood Capital partners sold 108,632 shares of the company's stock priced from $11.38 to $12.65.

The reporting persons beneficially own 226,043 shares, or 6.7%, of the Naperville, Ill., specialty retailer's common stock.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.