Pleasant Lake Partners LLC has recently increased its stake in 1-800-Flowers.com Inc. (NASDAQ:FLWS) 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 common stock over two transactions. The timing appears strategic, as InvestingPro data shows the stock has gained nearly 10% in the past week, with analysts setting 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. The second transaction, on January 22, saw the acquisition of 89,301 shares 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 January 30 earnings report.
Following these transactions, Pleasant Lake Partners now holds a total of 4,668,665 shares of 1-800-Flowers, reflecting its continued confidence in the company. The shares are held for the benefit of PLP Funds Master Fund LP, with Pleasant Lake Partners serving as the investment adviser. Discover more insights about FLWS and 1,400+ other stocks through comprehensive Pro Research Reports, available exclusively on InvestingPro.
In other recent news, 1-800-FLOWERS.COM has reported a 10% year-over-year decline in consolidated revenue in the first quarter of fiscal year 2025, attributed to shifts in wholesale orders and e-commerce performance. Despite this, the company is confident about an increase in sales during the holiday season, with initiatives such as exclusive Harry & David pop-up shops in select Macy’s (NYSE:M) locations. During their annual meeting, stockholders elected ten nominees to the board of directors and ratified the appointment of BDO USA, P.C. as the independent registered public accounting firm for the fiscal year ending June 29, 2025. DA Davidson has revised its price target for 1-800-FLOWERS.COM to $7.50 from the previous $7.00, maintaining a Neutral rating on the stock, reflecting the company’s weaker-than-expected performance. The company maintains its full-year sales and EBITDA guidance for fiscal 2025, expecting revenue growth to be flat to mid-single digits down, with an adjusted EBITDA projected to be between $85 million and $95 million. These are the recent developments as 1-800-FLOWERS.COM continues to navigate the consumer spending landscape with strategic initiatives and efficient cost management.
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