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In recent transactions reported to the SEC, major investors in Tile Shop Holdings, Inc. (NASDAQ:TTSH) have acquired significant shares of the company. Pleasant Lake Partners LLC, PLP Funds Master Fund LP, and Fund 1 Investments, LLC collectively purchased 35,500 shares of common stock, amounting to a total value of $217,205. The shares were acquired at prices ranging from $5.9832 to $6.2884, near the current trading price of $6.04. According to InvestingPro data, the stock has recently declined 14% over the past week, with technical indicators suggesting oversold conditions.
These acquisitions were made over two days, with 13,500 shares bought on March 12 and an additional 19,500 shares on March 13. The transactions reflect ongoing interest and investment in the retail company, which specializes in home furniture, furnishings, and equipment stores. The company maintains impressive gross profit margins of 65.7%, demonstrating strong pricing power in its market segment.
Pleasant Lake Partners LLC and its affiliates, who serve as investment advisers, continue to hold a substantial position in Tile Shop Holdings. As of the latest filing, the investors collectively own over 11.6 million shares, further solidifying their status as significant stakeholders in the company. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access detailed research reports through InvestingPro.
In other recent news, Tile Shop Holdings Inc . reported its financial results for the fourth quarter of 2024, revealing a slight miss in both earnings and revenue compared to analyst expectations. The company posted an earnings per share (EPS) of -$0.01, falling short of the forecasted $0.01. Revenue for the quarter was $79.45 million, below the projected $93.4 million. Despite these misses, Tile Shop Holdings ended the year with $21 million in cash and no bank debt, reflecting a strong cash position. The company has decided not to open any new stores in 2025, focusing instead on optimizing its existing operations. Additionally, two unprofitable stores are expected to close in 2025, reducing the total store count to 140. Tile Shop Holdings has also made progress in improving its annual gross margin by 130 basis points to 65.7%, demonstrating effective cost management. CEO Kev Lomel expressed optimism about a potential recovery in the housing market, which could positively impact future performance.
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