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Warren G. Lichtenstein, CEO and Chairman of Steel Partners, Ltd., has increased his stake in Wilhelmina International, Inc. (NASDAQ:WHLM) through a series of transactions totaling $117,361. The purchases occurred on December 27 and December 30, with share prices ranging between $3.0499 and $3.125. These acquisitions were made indirectly through Steel Partners, Ltd., where Lichtenstein holds a significant leadership role. The timing is notable as InvestingPro data shows the stock has fallen over 35% in the past six months, while trading at just 0.62 times book value.
The transactions involved buying 20,611 shares at an average price of $3.0499 and an additional 17,440 shares at an average price of $3.125. Following these transactions, Lichtenstein, through Steel Partners, holds 650,329 shares of Wilhelmina International. These moves reflect a continued interest in the Dallas-based management consulting services company, as Lichtenstein and Steel Partners collectively own more than 10% of Wilhelmina's outstanding shares. According to InvestingPro, the company maintains strong financial health with more cash than debt and sufficient liquidity to cover short-term obligations. Get access to 5 more exclusive InvestingPro Tips for deeper insights into WHLM's financial position.
In other recent news, Wilhelmina International, Inc. has taken a voluntary decision to delist from the Nasdaq Capital Market, as per a recent SEC filing. The company's Board of Directors resolved to terminate the listing of its common stock on Nasdaq, with an anticipated final trading day on Nasdaq around the end of December 2024. Post-delisting, the company's common stock may continue to trade through privately negotiated transactions and potentially on an over-the-counter (OTC) market, given that market makers are willing to list the shares.
This significant move by Wilhelmina International follows a series of corporate name changes, reflecting the company's evolving business focus. The company, however, has not disclosed the reasons for the delisting or any future plans regarding its stock or business operations post the delisting. These are recent developments, and more information is expected to be released in the future.
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