market folly

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of NutriSystem (NTRI).  Per the filing, the hedge fund now owns 5.3% of the company with over 1.5 million shares.

This is a newly disclosed equity stake for the firm and the filing was made due to activity in July 16th. 

You can view other recent portfolio activity from 12 West here.

Per Google Finance, NutriSystem is "a provider of a weight management system. The Company’s customers purchase monthly food packages containing a 28-day supply of breakfasts, lunches, dinners and desserts, which they supplement with dairy, fruit, salad, vegetables and low-glycemic carbohydrate items. Its customers order on an auto-delivery basis (Auto-Delivery), in which it sends a month’s food supply on an ongoing basis until notified by the customer to stop its shipments. Its product offerings also include a combination of its ready-to-go food and its fresh-frozen line of menu items. It sells its weight management program through a direct-to-consumer sales and distribution approach using the Internet and telephone."