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 14 recent notable filings:
New Activist Investor 13D Filings
United Security Bancshares (NASDAQ:USBO) – Strategic Value Investors LP has filed a new SC 13D, reporting a 5.40% ownership stake in United Security Bancshares.
Amended Activist Investor 13 D Filings
Great Elm Capital Group, Inc. (NASDAQ:GEC) – Mast Capital Management, LLC has filed an amended Schedule 13D/A, reporting a 8.40% ownership stake in Great Elm Capital Group.
Aqua Metals Inc (NASDAQ:AQMS) – Interstate Batteries, Inc. has filed an amended Schedule 13D/A, reporting a 15.05% ownership stake in Aqua Metals. This is a decrease of 24.37% from their previous filing.
Transdigm Group, Inc. (NYSE:TDG) – Berkshire Partners Holdings LLC has filed an amended Schedule 13D/A, reporting a 6.90% ownership stake in Transdigm Group.
Mirna Therapeutics Inc (NASDAQ:MIRN) – New Enterprise Associates 14, L.P. has filed an amended Schedule 13D/A, reporting a 14.20% ownership stake in Mirna Therapeutics. This is a decrease of 4.05% from their previous filing.
Dolby Laboratories, Inc. (NYSE:DLB) – Dolby Dagmar has filed an amended Schedule 13D/A, reporting a 45.30% ownership stake in Dolby Laboratories. This is a decrease of 1.95% from their previous filing.
Air Products & Chemicals, Inc. (NYSE:APD) – Pershing Square Capital Management, L.P. has filed an amended Schedule 13D/A, reporting a 4.97% ownership stake in Air Products & Chemicals. This is a decrease of 36.28% from their previous filing.
SP Plus Corp (NASDAQ:SP) – 2929 CPC Holdco, LLC has filed an amended Schedule 13D/A, reporting a 1.60% ownership stake in SP Plus. This is a decrease of 73.33% from their previous filing.
U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) – OAK MANAGEMENT CORP has filed an amended Schedule 13D/A, reporting a 0.01% ownership stake in U.S. Auto Parts Network. This is a decrease of 99.97% from their previous filing.
Exar Corporation (NYSE:EXAR) – ALONIM INVESTMENTS INC has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Exar. This is a decrease of 100.00% from their previous filing.
Cerecor Inc (NASDAQ:CERC) – ARMISTICE CAPITAL, LLC has filed an amended Schedule 13D/A, reporting a 23.90% ownership stake in Cerecor. This is an increase of 4.82% from their previous filing.
LMI Aerospace, Inc. (NASDAQ:LMIA) – MICHAS ALEXIS P has filed an amended Schedule 13D/A, reporting a 7.40% ownership stake in LMI Aerospace. This is a decrease of 23.71% from their previous filing.
Amyris, Inc. (NASDAQ:AMRS) – Temasek Holdings (Private) Ltd has filed an amended Schedule 13D/A, reporting a 21.80% ownership stake in Amyris. This is an increase of 17.84% from their previous filing.
Amended Passive Investor Filings
Huttig Building Products, Inc. (NASDAQ:HBP) – Hauser Family AG has filed an amended Schedule 13D/A, reporting a 5.30% ownership stake in Huttig Building Products. This is an increase of 8.16% from their previous filing.
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