Hedge fund Marcato Capital Management makes new bet on Dillard’s

Reuters – Hedge fund manager Mick McGuire of Marcato Capital Management has taken a new position in Dillard’s and is betting the retailer’s stock can climb to $155 a share, which would mark a 62 percent gain from its current level.

McGuire said in a regulatory filing on Wednesday that the department store operator has been turning itself around by closing underperforming stores, cutting expenses and buying back shares. He did not reveal the size of Marcato’s stake.

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