NEW YORK (Reuters) - Investor Daniel R. Tisch’s stake in Barnes & Noble Inc (BKS.N) has reached 8.1 percent, according to a regulatory filing on Tuesday, and the U.S. bookstore’s shares rose 8 percent.
As of December 31, Tisch and his TowerView LLC investment vehicle held 4,876,000 shares in Barnes & Noble, up from 3,085,000 in January 2012, making Tisch, a member of a prominent New York real estate family, Barnes & Noble’s second biggest shareholder after chairman and founder Leonard Riggio.
Shares shot up 8.2 percent to $14.34 in afternoon trading. The company, which reported disappointing holiday sales, is set to report full quarterly results on November 19.
Reporting by Phil Wahba; Editing by Gerald E. McCormick