ANN ARBOR Mich. One of Domino’s Pizza Inc.’s largest institutional stockholders raised its stake to 6.2 percent of the pizza delivery company’s outstanding shares, according to a regulatory filing submitted with the Securities & Exchange Commission on Tuesday.
The investor, East Peak Partners LP, which is managed by JGE Capital Management LLC, now holds 3.6 million shares of Domino’s 58.3 million outstanding shares. In February, the San Francisco-based asset manager had acquired 3.1 million Domino’s shares, or about 5.2 percent of its common stock.
The current investment is valued at more than $47 million. East Peak made no activist overtures in its latest filing.
According to the investor’s prior annual holdings reports, Domino’s is Eat Peak’s first foodservice investment. Domino’s, whose other large institutional investors include former owner Bain Capital, has most recently been trading closer to its 52-week low of $11.30 per share than to its 52-week high of $21.58, and has lost about 35 percent of its value since this time last year. Prior to Tuesday’s filing, Domino’s closed at $12.75 per share on May 23.
The company operates and franchises 8,641 Domino’s Pizza locations worldwide.