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 20 recent notable filings:
New Passive Investor Filings
AMREP Corporation (NYSE:AXR) – has filed a new SC 13G, reporting a 6.65% ownership stake in AMREP.
Fiesta Restaurant Group Inc (NASDAQ:FRGI) – has filed a new SC 13G, reporting a 15.30% ownership stake in Fiesta Restaurant Group. This is an increase of 537.50% from their previous filing.
Sportsman’s Warehouse Holdings Inc (NASDAQ:SPWH) – has filed a new SC 13G, reporting a 13.20% ownership stake in Sportsman’s Warehouse Holdings. This is an increase of 24.53% from their previous filing.
Liberty Media, Formula One Group Series A (NASDAQ:FWONA) – has filed a new SC 13G, reporting a 10.89% ownership stake in Liberty Media, Formula One Group Series A.
Amended Activist Investor Filings
Differential Brands Group Inc (NASDAQ:DFBG) – has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Differential Brands Group. This is a decrease of 100.00% from their previous filing.
Tempur Sealy International Inc (NYSE:TPX) – has filed an amended Schedule 13D/A, reporting a 14.10% ownership stake in Tempur Sealy International. This is an increase of 25.89% from their previous filing.
SSunOpta, Inc. (USA) (NASDAQ:STKL) – has filed an amended Schedule 13D/A, reporting a 12.60% ownership stake in SunOpta. This is an increase of 0.24% from their previous filing.
VMWare, Inc. (NYSE:VMW) – has filed an amended Schedule 13D/A, reporting a 81.80% ownership stake in VMWare. This is a decrease of 0.49% from their previous filing.
VMWare, Inc. (NYSE:VMW) – has filed an amended Schedule 13D/A, reporting a 81.80% ownership stake in VMWare. This is a decrease of 0.37% from their previous filing.
Starrett (L.S.) Co (NYSE:SCX) – has filed an amended Schedule 13D/A, reporting a 0.65% ownership stake in Starrett (L.S.) Co..
State National Companies, Inc. (NASDAQ:SNC) – has filed an amended Schedule 13D/A, reporting a 17.00% ownership stake in State National Companies. This is an increase of 8.97% from their previous filing.
Silver Bay Realty Trust Corp (NYSE:SBY) – has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Silver Bay Realty Trust. This is a decrease of 100.00% from their previous filing.
Revlon Inc (NYSE:REV) – has filed an amended Schedule 13D/A, reporting a 79.10% ownership stake in Revlon. This is an increase of 2.06% from their previous filing.
Amended Passive Investor Filings
Mesa Laboratories, Inc. (NASDAQ:MLAB) – has filed an amended Schedule 13D/A, reporting a 12.00% ownership stake in Mesa Laboratories. This is an increase of 114.29% from their previous filing.
Avinger, Inc. (NASDAQ:AVGR
) – has filed an amended Schedule 13D/A, reporting a 5.40% ownership stake in Avinger. This is a decrease of 68.05% from their previous filing.
Community Bank System, Inc. (NYSE:CBU) – has filed an amended Schedule 13D/A, reporting a 10.05% ownership stake in Community Bank System.
Apartment Investment & Management Co. (NYSE:AIV) – has filed an amended Schedule 13D/A, reporting a 5.36% ownership stake in Apartment Investment & Management. This is a decrease of 54.84% from their previous filing.
Perceptron, Inc. (NASDAQ:PRCP) – has filed an amended Schedule 13D/A, reporting an updated ownership stake in Perceptron.
PowerShares DB Gold Fund (NYSE:DGL) – has filed an amended Schedule 13D/A, reporting a 17.66% ownership stake in PowerShares DB Gold Fund. This is a decrease of 31.63% from their previous filing.
Spanish Broadcasting System, Inc. (NASDAQ:SBSA) – has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Spanish Broadcasting System. This is a decrease of 100.00% from their previous filing.
Apptio, Inc. (NASDAQ:APTI) – has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Apptio. This is a decrease of 100.00% from their previous filing.
Castlight Health, Inc. (NYSE:CSLT) – has filed an amended Schedule 13D/A, reporting an updated ownership stake in Castlight Health.
PowerShares DB Energy Fund (NYSE:DBE) – has filed an amended Schedule 13D/A, reporting a 25.50% ownership stake in PowerShares DB Energy Fund. This is a decrease of 18.01% from their previous filing.
Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) – has filed an amended Schedule 13D/A, reporting a 10.10% ownership stake in Sportsman’s Warehouse Holdings. This is a decrease of 4.72% from their previous filing.
lululemon athletica inc. (NASDAQ:LULU) – has filed an amended Schedule 13D/A, reporting a 1.50% ownership stake in lululemon athletica. This is a decrease of 85.00% from their previous filing.
China Biologic Products, Inc. (NASDAQ:CBPO) – has filed an amended Schedule 13D/A, reporting a 2.80% ownership stake in China Biologic Products. This is a decrease of 66.27% from their previous filing.
Virtus Investment Partners, Inc. (NASDAQ:VRTS) – has filed an amended Schedule 13D/A, reporting a 12.24% ownership stake in Virtus Investment Partners. This is a decrease of 29.53% from their previous filing.
Enbridge Energy Management LLC. (NYSE:EEQ) – has filed an amended Schedule 13D/A, reporting a 10.22% ownership stake in Enbridge Energy Management. This is an increase of 16.27% from their previous filing.
Egalet Corporation (NASDAQ:EGLT) – has filed an amended Schedule 13D/A, reporting a 9.11% ownership stake in Egalet. This is a decrease of 39.28% from their previous filing.
Harley-Davidson, Inc. (NYSE:HOG) – has filed an amended Schedule 13D/A, reporting a 10.00% ownership stake in Harley-Davidson. This is an increase of 4.82% from their previous filing.
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