Matrixx investor looks to increase company's profit margin through possible acquisition

By Lisa Kerner

Charlotte, N.C., Feb. 22 - Matrixx Initiatives, Inc. investor Jove Partners, LP purchased 500,000 shares, or 5.1% of the company's outstanding shares, for approximately $7.9 million in the belief the shares were undervalued, according to a schedule 13D filing with the Securities and Exchange Commission.

Jove Partners noted in the filing that "the value created to date has not been appropriately recognized by the market and will not be fully realizable as long as Zicam remains a standalone brand."

In addition, the shareholder believes the Phoenix-based health care products company could enhance its profit margins if it were acquired by a strategic investor.

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