Factory Card & Party's (FCPO) Strategic Alternatives Review News is a Win for Midwood Capital

Factory Card & Party Outlet's (NASDAQ: FCPO) news today that it initiated an external process to explore strategic alternatives is a win for 9.7% holder Midwood Capital Management. The hedge fund has been pushing the company to hire an investment banker to explore a sale since August. Link1, Link 2

Based on calculations, Midwood Capital paid an average of $7.92 for each share its owns. Today FCPO is trading at $8.45.