RLR Capital Partners GP LLC, a New York activist shareholder, has increased its stake in Hypercom Corp.
The Phoenix terminal maker company said Thursday in Securities and Exchange Commission filing that RLR now owns about 3.4 million shares, about 6.3% of the total outstanding.
RLR said in a letter to Hypercom that it should purchase up to 18 million of its shares and refrain from acquisitions until its performance improves.
Last month Hypercom announced a deal to purchase the payments software unit of the French company Thales SA for $120 million.
In March, RLR announced its acquisition of 5.1% of Hypercom's stock and called on its management to make several strategic changes.
By midday Thursday, Hypercom shares had climbed 0.44% from Wednesday's close, to $4.60, but they remained close to their 52-week low of $4.19.
