Early Christmas shopping for Prentice


Christmas must already be on the mind of hedge fund manager Michael Zimmerman, whose Prentice Capital Management upped its stakes in the toy and gift stocks this summer. Regulatory filings with the Securities and Exchange Commission show that in early August, Prentice bought 4.4 million shares of Russ Berrie, which specializes in teddy bears and other gifts aimed at infants and juveniles.

Prentice's Russ Berrie investment came at the same time D.E. Shaw bought an identical amount of the teddy bear maker's stock. Combined, the two fund groups wound up with a 43% stake in the firm - 21.5%