Warren G. Lichtenstein, a significant shareholder of Wilhelmina International, Inc. (NASDAQ:WHLM), recently acquired additional shares of the company. The modeling agency management firm, currently valued at $21.35 million, has seen its stock decline nearly 30% over the past six months, though InvestingPro analysis suggests the stock is trading close to its Fair Value. According to a Form 4 filing with the Securities and Exchange Commission, Lichtenstein purchased 2 shares of Wilhelmina International’s common stock at a price of $3.80 per share, amounting to a total transaction value of $7. This transaction was conducted through Steel Partners, Ltd., where Lichtenstein serves as the Chief Executive Officer and Chairman of the Board. Following this acquisition, Lichtenstein, through Steel Partners, holds 607,968 shares indirectly. The filing notes that Lichtenstein disclaims beneficial ownership of the shares except to the extent of his pecuniary interest. InvestingPro data reveals the company trades at a P/E ratio of 37, with eight additional key metrics and insights available to subscribers tracking insider movements and valuations.
In other recent news, Wilhelmina International has announced its decision to delist from the Nasdaq Capital Market. The company’s board of directors resolved this on December 20, 2024, and has since submitted a Form 25 to the SEC, effectively notifying the removal of listing and registration under Section 12(b) of the Exchange Act. The final trading day on Nasdaq for the company is expected to be approximately December 31, 2024.
Despite the delisting, Wilhelmina International may continue trading its common stock through privately negotiated transactions and possibly on an over-the-counter (OTC) market, provided market makers are willing to list the shares. Notably, data from InvestingPro reveals the company’s strong financial health, marked by more cash than debt and a healthy current ratio of 1.8.
These recent developments come after a series of corporate name changes for Wilhelmina International, reflecting the company’s evolving business focus over the years. However, the reasons for the delisting and future plans regarding its stock or business operations post-delisting remain undisclosed by the company.
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