When a person or group of persons acquires beneficial ownership of more than 5% of a company’s equity securities, they are required to file a Schedule 13D or 13G with the SEC.
If these groups intend to influence management into changing the business strategy, they are considered “activist” investors. There is considerable academic research that suggest activist investors contribute to excess returns in equities in the subsequent twelve months after the event.
Investors that acquire 10% or more of a company’s shares, or that gain a board seat, are considered insiders by the SEC and are subject to stricter insider trading filing requirements.
Investors that acquire more than 5% of the shares of a company and intend to influence management are considered activist investors and must file a 13D, and investors that acquire more than 5% of the shares of a company but have no intention of influencing management are considered passive investors and must file a 13G.
Here are 12 recent notable filings:
New Passive Investor Filings
ARC Group Worldwide, Inc. (NASDAQ:ARCW) – Northern Right Capital Management, L.P. has filed a new SC 13G, reporting a 5.00% ownership stake in ARC Group Worldwide.
Tangoe, Inc. (NASDAQ:TNGO) – Man Group plc has filed a new SC 13G, reporting a 5.06% ownership stake in Tangoe.
Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) – Marital Trust Under Article 7th of the Will of G. Moffett Cochran has filed a new SC 13G, reporting a 12.20% ownership stake in Silvercrest Asset Management Group.
Edge Therapeutics, Inc. (NASDAQ:EDGE) – Satter Muneer A has filed a new SC 13G, reporting a 5.80% ownership stake in Edge Therapeutics.
Amended Activist Investor Filings
Fred’s, Inc. (NASDAQ:FRED) – Alden Global Capital LLC has filed an amended Schedule 13D/A, reporting a 24.40% ownership stake in Fred’s. This is a decrease of 1.61% from their previous filing.
Eastman Kodak Co. (NYSE:KODK) – BlueMountain Capital Management, LLC has filed an amended Schedule 13D/A, reporting a 14.30% ownership stake in Eastman Kodak. This is a decrease of 20.11% from their previous filing.
DeVry Education Group Inc. (NYSE:DV) – International Value Advisers, LLC has filed an amended Schedule 13D/A, reporting a 4.80% ownership stake in DeVry Education Group. This is a decrease of 9.43% from their previous filing.
On Deck Capital, Inc. (NYSE:ONDK) – EJF Capital LLC has filed an amended Schedule 13D/A, reporting a 9.40% ownership stake in On Deck Capital. This is an increase of 14.63% from their previous filing.
MOCON, Inc. (NASDAQ:MOCO) – GAMCO INVESTORS, INC. ET AL has filed an amended Schedule 13D/A, reporting a 4.65% ownership stake in MOCON. This is an increase of 44.86% from their previous filing.
Amended Passive Investor Filings
Federated National Holding Co. (NASDAQ:FNHC) – LENOX FINANCIAL SERVICES, INC. has filed an amended Schedule 13D/A, reporting an updated ownership stake in Federated National Holding.
BlackRock, Inc. (NYSE:BLK) – NORGES BANK has filed an amended Schedule 13D/A, reporting a 4.99% ownership stake in BlackRock. This is a decrease of 0.40% from their previous filing.
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