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 17 recent notable filings:
New Activist Investor Filings
SeaWorld Entertainment, Inc. (NYSE:SEAS) – Hill Path Capital LP has filed a new SC 13D, reporting a 5.50% ownership stake in SeaWorld Entertainment.
PhotoMedex, Inc. (NASDAQ:PHMD) – PELL LEWIS C has filed a new SC 13D, reporting a 9.70% ownership stake in PhotoMedex.
Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) – AEGIS FINANCIAL CORP has filed a new SC 13D, reporting a 7.66% ownership stake in Alaska Communications Systems Group. This is a decrease of 2.17% from their previous filing.
eHealth, Inc. (NASDAQ:EHTH) – CANNELL CAPITAL LLC has filed a new SC 13D, reporting a 9.60% ownership stake in eHealth.
New Passive Investor Filings
Sorrento Therapeutics, Inc. (NASDAQ:SRNE) – Asia Pacific MedTech (BVI) Ltd has filed a new SC 13G, reporting a 12.80% ownership stake in Sorrento Therapeutics.
Dipexium Pharmaceuticals, Inc. (NASDAQ:DPRX) – ZIMMERMAN RONALD has filed a new SC 13G, reporting a 6.10% ownership stake in Dipexium Pharmaceuticals.
BioPharmX Corporation (NYSEMKT:BPMX) – Empery Asset Management, LP has filed a new SC 13G, reporting a 5.19% ownership stake in BioPharmX. This is an increase of 4.01% from their previous filing.
NOVELION THERAPEUTICS INC. (NASDAQ:NVLN) – HIGHBRIDGE CAPITAL MANAGEMENT LLC has filed a new SC 13G, reporting a 5.39% ownership stake in NOVELION THERAPEUTICS.
Marriott International, Inc. (NASDAQ:MAR) – Soroban Capital Partners LP has filed a new SC 13G, reporting a 5.40% ownership stake in Marriott International.
Fairmount Santrol Holdings Inc. (NYSE:FMSA) – Point72 Asset Management, L.P. has filed a new SC 13G, reporting a 6.10% ownership stake in Fairmount Santrol Holdings. This is an increase of 74.29% from their previous filing.
Medicines Company (The) (NASDAQ:MDCO) – Partner Fund Management, L.P. has filed a new SC 13G, reporting a 5.30% ownership stake in Medicines Company. This is an increase of 47.22% from their previous filing.
Onconova Therapeutics, Inc. (NASDAQ:ONTX) – SABBY MANAGEMENT, LLC has filed a new SC 13G, reporting a 7.61% ownership stake in Onconova Therapeutics.
TrueCar, Inc. (NASDAQ:TRUE) – Caledonia (Private) Investments Pty Ltd has filed a new SC 13G, reporting a 9.93% ownership stake in TrueCar.
Amended Activist Investor Filings
MutualFirst Financial, Inc. (NASDAQ:MFSF) – PL Capital, LLC has filed an amended Schedule 13D/A, reporting a 7.80% ownership stake in MutualFirst Financial. This is an increase of 1.30% from their previous filing.
MINDBODY, Inc. (NASDAQ:MB) – Abdiel Qualified Master Fund LP has filed an amended Schedule 13D/A, reporting a 11.00% ownership stake in MINDBODY. This is a decrease of 12.00% from their previous filing.
Amended Passive Investor Filings
Ocwen Financial Corp. (NYSE:OCN) – Devaney John has filed an amended Schedule 13D/A, reporting a 9.98% ownership stake in Ocwen Financial. This is an increase of 81.45% from their previous filing.
Genesis Energy, L.P. (NYSE:GEL) – OPPENHEIMER FUNDS INC has filed an amended Schedule 13D/A, reporting a 11.66% ownership stake in Genesis Energy. This is an increase of 33.72% from their previous filing.
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