Cost Plus climbs on news of 14.9% stake
Cost Plus, Inc. (Nasdaq: CPWM) shares are climbing in afternoon trading after a regulatory filing revealed after Friday’s closing that a Danish entrepreneur has taken a 14.9% stake in the home products retailer. Jakup Jacobsen, who already owns a sizeable investment in retailer Pier 1 Imports, Inc. (NYSE: PIR), owns the Iceland-based retail holding company Lagerinn and also is a global licensee for Swedish home-furnishings retailer Jysk.
In a filing with the Securities and Exchange Commission, Jacobsen revealed that he owns about 3.3 million shares for $41.9 million. As of Dec. 6, the company has approximately 22 million shares outstanding. Jacobsen also holds 1,213 Cost Plus shares for his child.
In today’s trading, CPWM shares were up 16.17%, or $0.71, at $5.10. Over the last 52 weeks, shares have ranged from $2.86 to $11.39.
