PAR Capital‘s stake in Tuesday Morning Corp (NASDAQ:TUES) has been raised according to a recent 13G filing with the Securities and Exchange Commission. The fund, managed by Paul Reeder and Edward Shapiro, has hiked its holding in the stock to 2.26 million shares, giving it ownership of 5.1% of the company’s float. PAR Capital previously held 1.84 million shares of the company as of the end of June.
Tuesday Morning Corporation is a deep-discount retailer, which mainly sells unique home accessories and brand name closeout products. Since the beginning of the year, the company’s stock has lost 11.85%. In its financial report for the fourth quarter of its fiscal year 2016, Tuesday Morning Corporation disclosed a loss per share of $0.09, beating the estimates of a loss per share of $0.13, and revenue of $222.8 million, missing the estimates of $228.5 million.
The number of hedge funds from Insider Monkey’s database long Tuesday Morning (NASDAQ:TUES) dropped by two in the second quarter, as at the end of June there were ten investors long the stock. Among them were Phill Gross and Robert Atchinson’s Adage Capital Management, which held a position valued at $15.41 million, Steve Cohen’s Point72 Asset Management, with a $2.46 million position, Joseph Mathias’ Concourse Capital Management, and John Overdeck and David Siegel’s Two Sigma Advisors.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
PAR Investment Partners | 2,263,000 | 2,263,000 | 2,263,000 | 5.1% | ||
PAR Group | 2,263,000 | 2,263,000 | 2,263,000 | 5.1% | ||
PAR Capital Management, Inc | 2,263,000 | 2,263,000 | 2,263,000 | 5.1% |
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Page 1 of 7 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Tuesday
Morning Corp
(Name of Issuer)
Common stock, par value $0.001
(Title of Class of Securities)
899035505
(CUSIP Number)
Sept 14, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to
designate the rule pursuant to which this Schedule is filed:
¨ Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be
deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
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Page 2 of 7 – SEC Filing
CUSIP No. 899035505 |
1 | NAMES OF PAR Investment Partners, L.P. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER (a) ¨ (b) x | |||||
3 | SEC USE ONLY | |||||
4 | CITIZENSHIP OR PLACE OF State of Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 2,263,000 | ||||
6 | SHARED VOTING POWER None | |||||
7 | SOLE DISPOSITIVE POWER 2,263,000 | |||||
8 | SHARED DISPOSITIVE POWER None | |||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,263,000 | |||||
10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (SEE INSTRUCTIONS) ¨ | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT 5.1% | |||||
12 | TYPE OF REPORTING PERSON (SEE PN |
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Page 3 of 7 – SEC Filing
CUSIP No. 899035505 |
1 | NAMES OF PAR Group, L.P. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER (a) ¨ (b) x | |||||
3 | SEC USE ONLY | |||||
4 | CITIZENSHIP OR PLACE OF State of Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 2,263,000 | ||||
6 | SHARED VOTING POWER None | |||||
7 | SOLE DISPOSITIVE POWER 2,263,000 | |||||
8 | SHARED DISPOSITIVE POWER None | |||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,263,000 | |||||
10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (SEE INSTRUCTIONS) ¨ | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT 5.1% | |||||
12 | TYPE OF REPORTING PERSON (SEE PN |
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Page 4 of 7 – SEC Filing
CUSIP No. 899035505 |
1 | NAMES OF PAR Capital Management, Inc. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER (a) ¨ (b) x | |||||
3 | SEC USE ONLY | |||||
4 | CITIZENSHIP OR PLACE OF State of Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 2,263,000 | ||||
6 | SHARED VOTING POWER None | |||||
7 | SOLE DISPOSITIVE POWER 2,263,000 | |||||
8 | SHARED DISPOSITIVE POWER None | |||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,263,000 | |||||
10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (SEE INSTRUCTIONS) ¨ | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT 5.1% | |||||
12 | TYPE OF REPORTING PERSON (SEE CO |
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Page 5 of 7 – SEC Filing
Item 1(a) Name of issuer.
Tuesday Morning Corp
Item 1(b) Address of issuers
principal executive offices.
6250 LBJ Freeway
Dallas,
Texas 75240
Item 2(a) Name of person filing.
PAR Investment Partners, L.P.
PAR Group, L.P.
PAR Capital Management, Inc.
Item 2(b) Address or
principal business office or, if none, residence.
PAR Capital Management, Inc.
One International Place, Suite 2041
Boston, MA 02110
Item 2(c) Citizenship.
State of Delaware
Item 2(d) Title of class of securities.
Common stock, par value $0.001
Item 2(e) CUSIP No.
899035505
Item 3. If this statement is filed
pursuant to §§240.13d1(b) or 240.13d2(b) or (c), check whether the person filing is a:
Not applicable
Item 4. Ownership.
Provide the following
information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially
Owned:
Each reporting person: 2,263,000
(b)
Percent of Class:
Each reporting person: 5.1%
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Page 6 of 7 – SEC Filing
(c) (1) Number of shares as to which PAR Investment Partners, L.P. has:
(i) sole power to vote or to direct the vote 2,263,000
(ii)
shared power to vote or to direct the vote 0
(iii) sole power to dispose or to direct the disposition of 2,263,000
(iv) shared power to dispose or to direct the disposition of 0
(2) Number of shares as to which PAR Group, L.P. has:
(i) sole
power to vote or to direct the vote 2,263,000
(ii) shared power to vote or to direct the vote 0
(iii) sole power to dispose or to direct the disposition of 2,263,000
(iv) shared power to dispose or to direct the disposition of 0
(3) Number of shares as to which PAR Capital Management, Inc. has:
(i) sole power to vote or to direct the vote 2,263,000
(ii)
shared power to vote or to direct the vote 0
(iii) sole power to dispose or to direct the disposition of 2,263,000
(iv) shared power to dispose or to direct the disposition of 0
Item 5. Ownership of 5 Percent or Less of a Class.
Not applicable
Item 6. Ownership of More than 5 Percent
on Behalf of Another Person.
Not applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control
Person.
The sole general partner of PAR Investment Partners, L.P. is PAR Group, L.P. The sole general partner of PAR Group L.P., is PAR Capital
Management, Inc. Each of PAR Group, L.P. and PAR Capital Management, Inc. may be deemed to be the beneficial owner of all shares held directly by PAR Investment Partners, L.P.
Item 8. Identification and Classification of Members of the Group.
Not applicable
Item 9. Notice of Dissolution of Group.
Not applicable
Exhibits.
Joint filing agreement dated September 23, 2016.
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Page 7 of 7 – SEC Filing
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.
9/23/2016 | ||||||
PAR INVESTMENT PARTNERS, L.P. | ||||||
By: | PAR Group, L.P. | |||||
its general partner | ||||||
By: | PAR Capital Management, Inc. | |||||
its general partner | ||||||
By: | /s/ Steven M. Smith | |||||
Steven M. Smith, Chief Operating Officer | ||||||
PAR GROUP, L.P. | ||||||
By: | PAR Capital Management, Inc. | |||||
its general partner | ||||||
By: | /s/ Steven M. Smith | |||||
Steven M. Smith, Chief Operating Officer | ||||||
PAR CAPITAL MANAGEMENT, L.P. | ||||||
By: | /s/ Steven M. Smith | |||||
Steven M. Smith, Chief Operating Officer |