Glenn Greenberg's Brave Warrior Capital Boosts Cimpress Stake ~ market folly

Tuesday, August 11, 2015

Glenn Greenberg's Brave Warrior Capital Boosts Cimpress Stake

Glenn Greenberg's investment firm Brave Warrior Capital has filed an amended 13G regarding its stake in Cimpress (CMPR).  Per the filing, Brave Warrior now owns 11.6% of the company with over 3.79 million shares.

This is an increase of around 1.26 million shares.  They previously owned 2.53 million shares at the end of the first quarter.  The new filing was made due to activity on July 31st.  At the end of July, shares dropped from around $78 down to around $63 and have since rebounded to $70.

Formerly known as Vistaprint, this business has attracted a few other value investors besides Brave Warrior: Arlington Value and Cantillon Capital. 

Greenberg runs a concentrated portfolio and is previously of Chieftain Capital.  We've briefly detailed what Greenberg looks for in an investment before.

Per Google Finance, Cimpress is "a technology and manufacturing company based in the Netherlands, which provides professional marketing products and services. It is engaged in mass customization and Web-to-print technology. The Company aggregates, via the Internet, large volumes of individually small, customized orders for a spectrum of print, signage, apparel and similar products. Its portfolio of brands is aimed at three target groups: small and micro businesses, graphic professionals, and home and family customers, and includes such brands as Vistaprint, pagemodo, webs, Araprint,, Pixartprinting,, printi, albelli, FotoKnudsen, and Onskefoto, among others. Its products are available in more than 130 countries.."

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