There were 10 notable investor filings today. Seaboard Corp (NYSEMKT:SEB) is the largest company of interest.
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 suggests 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 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.
Akorn, Inc. (NASDAQ:AKRX) – Fresenius SE & Co. KGaA has filed a new SC 13D, reporting a 24.93% ownership stake in Akorn.
New Passive Investor 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.
Inphi Corp. (NYSE:IPHI) – 1832 Asset Management L.P. has filed a new SC 13G, reporting a 4.97% ownership stake in Inphi. This is a decrease of 12.35% from their previous filing.
Avalon Holdings Corp. (NYSEMKT:AWX) – COMPREHENSIVE FINANCIAL PLANNING INC has filed a new SC 13G, reporting a 11.70% ownership stake in Avalon Holdings.
Manitowoc Co., Inc. (The) (NYSE:MTW) – Southpoint Capital Advisors LP has filed a new SC 13G, reporting a 5.03% ownership stake in Manitowoc Co..
Amended Activist Investor Filings
Seaboard Corp. (NYSEMKT:SEB) – BRESKY STEVEN J has filed an amended Schedule 13D/A, reporting a 39.80% ownership stake in Seaboard.
Gastar Exploration Inc. (NYSEMKT:GST) – ARES MANAGEMENT LLC has filed an amended Schedule 13D/A, reporting a 20.40% ownership stake in Gastar Exploration. This is an increase of 270.91% from their previous filing.
Amended Passive Investor Filings
Marrone Bio Innovations, Inc. (NASDAQ:MBII) – PRIMECAP MANAGEMENT CO/CA/ has filed an amended Schedule 13D/A, reporting a 8.86% ownership stake in Marrone Bio Innovations. This is a decrease of 23.16% from their previous filing.
Xcerra Corp (NASDAQ:XCRA) – JP MORGAN CHASE & CO has filed an amended Schedule 13D/A, reporting a 1.60% ownership stake in Xcerra. This is a decrease of 70.91% from their previous filing.
Bassett Furniture Industries, Inc. (NASDAQ:BSET) – Royce & Associates LLC has filed an amended Schedule 13D/A, reporting a 10.36% ownership stake in Bassett Furniture Industries. This is an increase of 14.22% from their previous filing.
Huttig Building Products, Inc. (NASDAQ:HBP) – Hauser Family AG has filed an amended Schedule 13D/A, reporting a 4.90% ownership stake in Huttig Building Products. This is a decrease of 18.33% from their previous filing.
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