Engaged Capital LLC
disclosed that they own a 17.7% stake in Jamba, Inc. (NASDAQ:JMBA) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, March 20th. The investor owns 2,709,932 shares of the stock worth about $25,988,248. The reporting parties listed on the disclosure included Engaged Capital Flagship Master Fund, LP, Engaged Capital Flagship Fund, LP, Engaged Capital Flagship Fund, Ltd, Engaged Capital, LLC, Engaged Capital Holdings, LLC and Glenn W Welling. The filing is available through the SEC website at this hyperlink.
Engaged Capital LLC
provided the following explanation of their ownership:
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A number of other hedge funds also recently modified their holdings of the company. Trexquant Investment LP acquired a new stake in Jamba during the fourth quarter valued at $176,000. Russell Investments Group Ltd. acquired a new stake in Jamba during the fourth quarter valued at $191,000. Renaissance Technologies LLC acquired a new stake in Jamba during the fourth quarter valued at $437,000. Two Sigma Investments LP acquired a new stake in Jamba during the fourth quarter valued at $616,000. Finally, Numeric Investors LLC boosted its stake in Jamba by 0.3% in the fourth quarter. Numeric Investors LLC now owns 73,091 shares of the company’s stock valued at $753,000 after buying an additional 200 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.
Jamba, Inc. (NASDAQ:JMBA) traded down 3.03% during mid-day trading on Monday, hitting $9.59. The company’s stock had a trading volume of 292,817 shares. The company’s 50 day moving average is $9.62 and its 200-day moving average is $10.16. Jamba, Inc. has a 52-week low of $9.08 and a 52-week high of $13.62. The stock’s market cap is $147.01 million.
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JMBA has been the topic of several recent analyst reports. Wedbush reaffirmed a “neutral” rating on shares of Jamba in a report on Tuesday, November 22nd. Zacks Investment Research raised Jamba from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 4th.
In other news, Director Glenn W. Welling acquired 5,453 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was bought at an average price of $9.74 per share, with a total value of $53,112.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 496,431 shares of company stock valued at $4,815,578 in the last ninety days. 15.85% of the stock is currently owned by corporate insiders.
Jamba, Inc is a restaurant retailer of specialty food and beverage offerings. The Company operates through retail segment. The Company’s offerings include whole fruit smoothies, squeezed juices and juice blends, Energy Bowls, and a range of food items including, hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads, baked goods and snacks.
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