market folly

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of Papa Murphy's (FRSH).  Per the filing, 12 West now owns 6.3% of Papa Murphy's with over 1.06 million shares.

The filing was made due to activity on May 18th. This is a newly disclosed equity position as they did not show a stake at the end of the first quarter.

Per Google Finance, Papa Murphy's "is a franchisor and operator of the Take 'N' Bake pizza chain in the United States. The Company franchises the right to operate Take 'N' Bake pizza franchises and operates Take 'N' Bake pizza stores owned by the Company. The Company operates through three segments: Domestic Company Stores, Domestic Franchise and International. Its Domestic Franchise segment consists of its domestic franchised stores, which represent its system-wide stores and derives its revenues from franchise and development fees and the collection of franchise royalties. The Domestic Company Stores segment consists of its Company-owned stores in the United States and derives its revenues from retail sales of pizza and side items to the general public. Its International segment consists of its stores outside of the United States, all of which are franchised and derives its revenues from franchise and development fees."