Lenox Group shareholders purchase stock considered undervalued

By Lisa Kerner

Charlotte, N.C., Feb. 12 - Lenox Group Inc. investors led by the Clinton Group, Inc. continued to increase their stake in the company, owning 958,380 shares, or 6.8% of Lenox stock on Feb. 9.

The investors acquired the shares believing the shares to be undervalued at the time of purchase, according to a schedule 13D filed with the Securities and Exchange Commission. The report is the group's first on a 13D for Lenox, indicating the investors have passed the 5% threshold at which a filing must be made.

In the last 60 days, the reporting persons bough and sold Lenox shares priced between $2.91 and $7.70.

Shares of the Eden Prairie, Minn., gifts and collectibles distributor closed at $4.55 on Feb. 9.

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