Plp funds master fund buys $702,222 in 1-800-Flowers stock

In a recent series of transactions, PLP Funds Master Fund LP, an investment entity managed by Pleasant Lake Partners LLC, has acquired a substantial amount of shares in 1-800-Flowers.com Inc. (NASDAQ:FLWS), which currently trades at a market capitalization of $377 million. According to InvestingPro analysis, the stock is currently trading below its Fair Value, with a relatively low revenue valuation multiple. The transactions, disclosed in a Form 4 filing with the Securities and Exchange Commission, reveal that the fund purchased a total of 118,000 shares of the company’s Class A common stock over several days.

The purchases were made between March 21 and March 25, 2025, at prices ranging from $5.6677 to $5.959 per share, amounting to a total transaction value of approximately $702,222. These acquisitions have increased the fund’s stake in the company, with shares now held for the benefit of PLP Funds Master Fund LP. The stock has experienced significant volatility, having declined over 25% in the past six months, while maintaining a healthy current ratio of 1.51, indicating strong short-term liquidity.

The securities are held indirectly, with the ownership attributed to PLP Funds Master Fund LP, for which Pleasant Lake Partners LLC serves as the investment adviser. Fund 1 Investments, LLC, acts as the managing member of Pleasant Lake Partners LLC, and Jonathan Lennon, together with Fund 1, PLP, and the Master Fund, are listed as the reporting persons in the filing.

Each of the reporting entities has disclaimed beneficial ownership of the shares, except to the extent of their pecuniary interest, as noted in the filing.

In other recent news, 1-800-FLOWERS.COM reported its second-quarter fiscal year 2025 earnings, revealing a 6% decline in sales to $776 million, which missed the consensus estimate by $27 million. The company also reported earnings per share of $1.08, falling short of the expected $1.20, with revenue reaching $775.5 million, below the anticipated $801.9 million. Following this earnings report, the company reduced its full-year 2025 EBITDA guidance by 22%, with the revised midpoint now at $70 million, which is below the pre-pandemic FY19 EBITDA of $82 million. Despite these challenges, DA Davidson maintained a Neutral rating on 1-800-FLOWERS.COM with a consistent price target of $7.50, though the target is subject to review after the third fiscal quarter 2025 results.

In a strategic move to enhance delivery logistics, 1-800-FLOWERS.COM partnered with Uber Technologies (NYSE:UBER) to use Uber Direct for on-demand delivery services, aiming to assist local florists in the BloomNet network during peak demand periods like Valentine’s Day. The integration with Uber Direct is expected to improve delivery efficiency, enabling florists to handle surges in demand without logistical bottlenecks. Additionally, the company is focusing on cost reduction and leveraging AI for personalized marketing to address ongoing challenges in its e-commerce and corporate gifting sectors. These developments come amid a broader market downturn, with the company’s shares experiencing significant declines.

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