North Star IM Exits Significant Crown Crafts Stake

TL;DR

**North Star IM just dumped most of its Crown Crafts shares, watch out!**

AI Summary

North Star Investment Management Corp. has filed an Amendment No. 6 to its Schedule 13G, indicating an 'Exit Filing' for its position in Crown Crafts, Inc. As of December 31, 2023, North Star Investment Management Corp. beneficially owns 326,000 shares of Crown Crafts, Inc. Common Stock, representing 3.2% of the company's outstanding shares. This matters to investors because a significant institutional investor has reduced its stake, potentially signaling a change in their outlook on the company's future performance.

Why It Matters

This filing shows a major institutional investor, North Star Investment Management Corp., has significantly reduced its holdings in Crown Crafts, Inc., which could be interpreted as a loss of confidence or a strategic portfolio reallocation.

Risk Assessment

Risk Level: medium — The exit of a significant institutional investor can sometimes precede a decline in stock price or indicate underlying issues, though it could also be a portfolio rebalancing.

Analyst Insight

A smart investor would investigate the reasons behind North Star Investment Management Corp.'s exit, potentially by looking for recent news or financial reports from Crown Crafts, Inc., before making any investment decisions.

Key Numbers

• 326,000 — Shares Beneficially Owned (This is the number of shares North Star Investment Management Corp. holds in Crown Crafts, Inc. after the reported event.)
• 3.2% — Percentage of Class (This represents the remaining ownership percentage of Crown Crafts, Inc. by North Star Investment Management Corp., indicating a significant reduction from previous filings.)
• December 31, 2023 — Event Date (This is the specific date when the ownership change occurred that triggered this filing.)

Key Players & Entities

• North Star Investment Management Corp. (company) — the reporting person exiting its position
• Crown Crafts, Inc. (company) — the subject company whose shares are being reported
• 326,000 (dollar_amount) — shares beneficially owned by North Star Investment Management Corp. as of December 31, 2023
• 3.2% (dollar_amount) — percentage of Crown Crafts, Inc. shares beneficially owned by North Star Investment Management Corp.
• December 31, 2023 (date) — the date of the event requiring this filing

Forward-Looking Statements

• Crown Crafts, Inc.'s stock price may experience downward pressure in the short term. (Crown Crafts, Inc.) — medium confidence, target: 3 months
• Other institutional investors might re-evaluate their positions in Crown Crafts, Inc. following this exit. (Institutional Investors) — medium confidence, target: 6 months

FAQ

Key Financial Figures

• $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securiti

Filing Documents

• formsc13ga.htm (SC 13G/A) — 27KB
• 0001062993-24-000773.txt ( ) — 28KB

Ownership

Item 4. Ownership The information reported below in this Item 4 is as of December 31, 2023. The percentage set forth in Item 4(b) is based on 10,240,719 shares of the Issuer's Common Stock outstanding as of October 30, 2023, as reported in the Issuer's Form 10-Q for the quarter ended October 1, 2023 (as filed November 15, 2023). (a) Amount Beneficially Owned: 336,771 (b) Percent of Class: 3.29% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 326,000 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 326,000 (iv) Shared power to dispose or to direct the disposition of: 10,771

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. Not Applicable.

Ownership of more than Five Percent on Behalf of Another Person

Item 6. Ownership of more than Five 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. Not Applicable.

Identification and classification of members of the group

Item 8. Identification and classification of members of the group. Not Applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not Applicable. Page 4 of 5

Certifications

Item 10. Certifications. 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 the purposes or effect, other than activities solely in connection with nomination under 240.14a-11. 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. Dated: January 10, 2024 NORTH STAR INVESTMENT MANAGEMENT CORPORATION /s/ Andrew Eisenberg Andrew Eisenberg/Chief Compliance Officer The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of this filing person), evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature. Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001). Page 5 of 5

View Full Filing

View this SC 13G/A filing on SEC EDGAR