Monday, December 10, 2007

Clinton Group Accumulates 7.2% Stake in Sharper Image (SHRP)

In a 13D filing on Sharper Image (Nasdaq: SHRP), Clinton Group and related funds disclosed a 7.2% stake (1,092,270 shares) in the company. The firm held 157K Sharper Image shares at the quarter ended September 30, 2007.

In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they will monitor their investment and may enter discussions with management, the Board of Directors or others.

Sharper Image has been a struggling retailer for some time. The stock is down 64% YTD and 82% over the last 5 years.

About 31% of the float is short.

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