In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Lifetime Brands Inc (NASDAQ:LCUT) reported that Mill Road Capital Ii, L.p. has picked up 1,628,203 of common stock as of 2017-03-14.
The acquisition brings the aggregate amount owned by Mill Road Capital Ii, L.p. to a total of 1,628,203 representing a 11.3% stake in the company.
For those not familiar with the company, Lifetime Brands, Inc. designs, sources and sells branded kitchenware, tableware and other products used in the home. The Company has three business segments: U.S. Wholesale, which designs, markets and distributes its products to retailers and distributors; International, which operates certain business operations that are conducted outside the United States, and Retail Direct, which markets and sells a limited selection of its products through its Pfaltzgraff, Mikasa, Built NY, Fred & Friends and Lifetime Sterling Internet Websites. Its product categories include over two categories of products that people use to prepare, serve and consume foods, including Kitchenware, which consists of kitchen tools and gadgets, cutlery and bakeware, and Tableware, which consists of dinnerware, stemware, flatware and giftware. Its Home Solutions consists of other products used in the home. It owns or licenses various brands, such as Farberware, Sabatier, masterclass, Kamenstein and Towle.
A glance at Lifetime Brands Inc. (NASDAQ:LCUT)’s key stats reveals a current market capitalization of 386.94 Million based on 14.43 Million shares outstanding and a price at last close of $20.50 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-13, Mill picked up 46,159 at a purchase price of $18.43. This brings their total holding to 1,628,203 as of the date of the filing.
On the sell side, the most recent transaction saw Siegel unload 8,750 shares at a sale price of $17.24. This brings their total holding to 328,157.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Lifetime Brands Inc (NASDAQ:LCUT) as things move forward to see if its progress aligns with these transactions.
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