As a new filing with the SEC showed, Merion Investment Management LP has initiated a 9.0% passive stake in Zale Corporation (NYSE:ZLC). The fund reported ownership of over 3.90 million shares of the company, with an aggregate value of $82.07 million, at the current price of the stock. The stock price of Zale Corporation (NYSE:ZLC) has surged by over 30% since the beginning of the year.
Among other shareholders of the $906 million market cap company is TIG Advisors, managed by Carl Tiedemann and Michael Tiedemann, which initiated a stake during the first quarter and reported ownership of 3.12 million shares of Zale Corporation (NYSE:ZLC) in its latest 13F filing. Keith Meister‘s Corvex Capital has also added the company to its equity portfolio, and owns more than 1.57 million shares as of the end of March.