DealBook yesterday revealed that Stevie Cohen's SAC Capital has disclosed a 5% ownership in Build-a-Bear. We assume Cohen is anticipating some sort of resurgent interest in Brideshead Revisted, the Evelyn Waugh novel featuring a grown man who totes around a teddy bear.
SAC Capital, the large and secretive investment pool run by Steven A. Cohen, made a regulatory filing Monday disclosing that the fund and its affiliates owned a 5 percent stake in Build-a-Bear Workshop, a publicly traded company that sells custom-made plush toys such as the “Taking Care of Business” bear, which comes complete with two-piece suit and black briefcase.
To be sure, SAC’s investment does not necessarily mean Mr. Cohen’s fund is feeling bullish about Build-a-Bear. The fund may have other, undisclosed positions, including short sales of the stock, which would gain value if the shares declined.
SAC’s (Teddy) Bearish Investment [DealBook]