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 8 recent notable filings:
New Activist Investor Filings
Coastway Bancorp, Inc. (NASDAQ:CWAY) – Clover Partners, L.P. has filed a new SC 13D, reporting a 5.80% ownership stake in Coastway Bancorp.
Xerium Technologies, Inc. (NYSE:XRM) – WYNNEFIELD PARTNERS SMALL CAP VALUE LP I has filed a new SC 13D, reporting a 2.76% ownership stake in Xerium Technologies.
New Passive Investor Filings
CorMedix Inc. (NYSEMKT:CRMD) – SABBY MANAGEMENT, LLC has filed a new SC 13G, reporting a 5.79% ownership stake in CorMedix.
Amended Activist Investor Filings
Avis Budget Group, Inc. (NASDAQ:CAR) – SRS Investment Management, LLC has filed an amended Schedule 13D/A, reporting a 9.90% ownership stake in Avis Budget Group. This is an increase of 2.06% from their previous filing.
JAKKS Pacific, Inc. (NASDAQ:JAKK) – Hongkong Meisheng Culture Co Ltd has filed an amended Schedule 13D/A, reporting a 19.50% ownership stake in JAKKS Pacific. This is an increase of 186.76% from their previous filing.
Amended Passive Investor Filings
Blueprint Medicines Corporation (NASDAQ:BPMC) – Biotechnology Value Fund L P has filed an amended Schedule 13D/A, reporting a 2.40% ownership stake in Blueprint Medicines. This is a decrease of 50.00% from their previous filing.
Neff Corp. (NYSE:NEFF) – PRIVATE MANAGEMENT GROUP INC has filed an amended Schedule 13D/A, reporting a 5.23% ownership stake in Neff. This is a decrease of 55.90% from their previous filing.
PTC Therapeutics, Inc. (NASDAQ:PTCT) – Complete Pharma Holdings II, LLC has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in PTC Therapeutics. This is a decrease of 100.00% from their previous filing.
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