There were 16 notable investor filings of recent not, and Willis Towers Watson PLC (NASDAQ:WLTW) is the largest company of interest among the group.
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.
New Activist Investor 13D 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.
Superior Industries International, Inc. (NYSE:SUP) – TPG Group Holdings (SBS) Advisors, Inc. has filed a new SC 13D, reporting a 16.70% ownership stake in Superior Industries International.
Energen Corp. (NYSE:EGN) – Corvex Management LP has filed a new SC 13D, reporting a 5.50% ownership stake in Energen.
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.
Regional Management Corp. (NYSE:RM) – Glen Capital Partners Focus Fund, L.P. has filed a new SC 13G, reporting a 4.79% ownership stake in Regional Management. This is a decrease of 3.62% from their previous filing.
Inseego Corp. (NASDAQ:INSG) – KARSH BRUCE A has filed a new SC 13G, reporting a 7.30% ownership stake in Inseego.
Eldorado Resorts, Inc. (NASDAQ:ERI) – GFIL Holdings, LLC has filed a new SC 13G, reporting a 9.40% ownership stake in Eldorado Resorts.
Amended Activist Investor Filings
St. Joe Co. (THE) (NYSE:JOE) – FAIRHOLME CAPITAL MANAGEMENT LLC has filed an amended Schedule 13D/A, reporting a 34.90% ownership stake in St. Joe Co. (THE). This is an increase of 3.56% from their previous filing.
NII Holdings, Inc. (NASDAQ:NIHD) – Aurelius Capital Management, LP has filed an amended Schedule 13D/A, reporting an updated ownership stake in NII Holdings.
AveXis, Inc. (NASDAQ:AVXS) – Flynn James E has filed an amended Schedule 13D/A, reporting a 2.21% ownership stake in AveXis. This is a decrease of 0.45% from their previous filing.
Cascade Bancorp (NASDAQ:CACB) – LIGHTYEAR FUND II, L.P. has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Cascade Bancorp.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – BASSWOOD CAPITAL MANAGEMENT, L.L.C. has filed an amended Schedule 13D/A, reporting a 4.87% ownership stake in Seacoast Banking Corporation of Florida. This is a decrease of 21.32% from their previous filing.
Sanchez Production Partners LLC (NYSEMKT:SPP) – Stonepeak Catarina Holdings LLC has filed an amended Schedule 13D/A, reporting a 69.00% ownership stake in Sanchez Production Partners. This is a decrease of 1.71% from their previous filing.
PRGX Global, Inc. (NASDAQ:PRGX) – Northern Right Capital Management, L.P. has filed an amended Schedule 13D/A, reporting a 6.80% ownership stake in PRGX Global. This is an increase of 15.25% from their previous filing.
Janus Capital Group, Inc. (NYSE:JNS) – GAMCO INVESTORS, INC. ET AL has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Janus Capital Group.
Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – TUCHMAN MARTIN has filed an amended Schedule 13D/A, reporting a 6.80% ownership stake in Berkshire Hills Bancorp. This is an increase of 9.68% from their previous filing.
Wesco Aircraft Holdings Inc. (NYSE:WAIR) – Bancroft Thomas has filed an amended Schedule 13D/A, reporting a 9.40% ownership stake in Wesco Aircraft Holdings.
Willis Towers Watson Public Limited Company (NASDAQ:WLTW) – VA Partners I, LLC has filed an amended Schedule 13D/A, reporting a 4.90% ownership stake in Willis Towers Watson Public Limited. This is a decrease of 16.95% from their previous filing.
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