Chuck Royce Unloads Some Shares of This Restaurant Franchiser
Royce & Associates, Cosi: Chuck Royce's Royce & Associates recently lowered their position in Cosi Inc (NASDAQ:COSI), now holding 7.12% of the company. In an amended 13D SEC filing, Royce reported ownership of some 1.29 million shares, versus around 1.58 million shares posted in its latest 13F filing. At the current stock price of Cosi's stock, the total value of the shares amounts to around $2.8 million.
Cosi had a net loss of over 2.13 million in the second quarter of the year, which represents $0.12 per share, versus an income of $77,000 posted for the same period of 2012. The revenues of the company declined by some $2.9 million and totaled around $23.4 million. Also, in August the company received a notice from the Listing Qualifications Department of the Nasdaq Stock Market, which stated that due to the insufficiency of stockholder equity, which is below $10 million, the company had to file a plan to get back to compliance levels, the company said in a statement.
Alexander Mitchell's Scopus Asset Management disclosed around 256,300 shares of Cosi in its latest 13F.