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 18 notable recent filings:
New Activist Investor 13 D Filings
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.
OM Asset Management Plc (NYSE:OMAM) – HNA Group Co., Ltd. has filed a new SC 13D, reporting a 10.40% ownership stake in OM Asset Management.
NorthStar Realty Europe Corp. (NYSE:NRE) – Colony NorthStar, Inc. has filed a new SC 13D, reporting a 7.80% ownership stake in NorthStar Realty Europe.
Hooper Holmes, Inc. (OTCMKTS:HH) – WH-HH Holdings, LLC has filed a new SC 13D, reporting a 49.10% ownership stake in Hooper Holmes.
Akebia Therapeutics Inc (NASDAQ:AKBA) – Vifor Pharma Ltd. has filed a new SC 13D, reporting a 8.40% ownership stake in Akebia Therapeutics.
Babcock & Wilcox Enterprises Inc (NYSE:BW) – Lightship Capital LLC has filed a new SC 13D, reporting a 9.90% ownership stake in Babcock & Wilcox Enterprises.
Amended Activist Investor Filings
Carbo Ceramics Inc. (NYSE:CRR) – Wilks Brothers, LLC has filed an amended Schedule 13D/A, reporting a 12.10% ownership stake in Carbo Ceramics. This is an increase of 7.08% from their previous filing.
Aerohive Networks, Inc. (NYSE:HIVE) – Discovery Group I, LLC has filed an amended Schedule 13D/A, reporting a 7.00% ownership stake in Aerohive Networks. This is a decrease of 13.58% from their previous filing.
Coastway Bancorp, Inc. (NASDAQ:CWAY) – Clover Partners, L.P. has filed an amended Schedule 13D/A, reporting a 7.90% ownership stake in Coastway Bancorp. This is an increase of 14.49% from their previous filing.
Virtusa Corp. (NASDAQ:VRTU) – Orogen Viper LLC has filed an amended Schedule 13D/A, reporting a 9.10% ownership stake in Virtusa. This is an increase of 5.81% from their previous filing.
Finish Line, Inc. (NASDAQ:FINL) – Sports Direct International plc has filed an amended Schedule 13D/A, reporting a 13.60% ownership stake in Finish Line. This is an increase of 47.83% from their previous filing.
New Passive Investor 13G Filings
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.
Acuity Brands, Inc. (Holding Company) (NYSE:AYI) – GENERATION INVESTMENT MANAGEMENT LLP has filed a new SC 13G, reporting a 5.92% ownership stake in Acuity Brands, Inc. (Holding Company).
Apptio, Inc. (NASDAQ:APTI) – MORGAN STANLEY has filed a new SC 13G, reporting a 6.50% ownership stake in Apptio.
Papa Murphy’s Holdings, Inc. (NASDAQ:FRSH) – MFP INVESTORS LLC has filed a new SC 13G, reporting a 7.70% ownership stake in Papa Murphy’s Holdings.
ZIOPHARM Oncology, Inc. (NASDAQ:ZIOP) – CVI Investments, Inc. has filed a new SC 13G, reporting a 6.80% ownership stake in ZIOPHARM Oncology.
Transdigm Group, Inc. (NYSE:TDG) – TIGER GLOBAL MANAGEMENT LLC has filed a new SC 13G, reporting a 5.50% ownership stake in Transdigm Group.
Ophthotech Corp (NASDAQ:OPHT) – D. E. SHAW & CO, L.P. has filed a new SC 13G, reporting a 5.00% ownership stake in Ophthotech.
Amended Passive Investor Filings
BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) – Flynn James E has filed an amended Schedule 13D/A, reporting a 4.25% ownership stake in BioCryst Pharmaceuticals. This is a decrease of 3.19% from their previous filing.
Trade Desk, Inc. (NASDAQ:TTD) – Hadley Harbor Master Investors (Cayman) L.P. has filed an amended Schedule 13D/A, reporting a 0.18% ownership stake in Trade Desk. This is a decrease of 97.32% from their previous filing.
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