There were 16 notable investor filings on Thursday. Western Refining, Inc. (NYSE:WNR) 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 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.
ShorTel, Inc. (NASDAQ:SHOR) – has filed a new SC 13D, reporting a 6.13% ownership stake in ShorTel. This is a decrease of 5.40% from their previous filing.
Gencor Industries, Inc. (NASDAQ:GENC) – has filed a new SC 13D, reporting a 0.41% ownership stake in Gencor Industries.
EnteroMedics, Inc. (NASDAQ:ETRM) – has filed a new SC 13D, reporting a 35.10% ownership stake in EnteroMedics.
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.
Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS) – has filed a new SC 13G, reporting a 5.12% ownership stake in Adamas Pharmaceuticals.
Endologix, Inc. (NASDAQ:ELGX) – has filed a new SC 13G, reporting a 6.40% ownership stake in Endologix.
U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) – has filed a new SC 13G, reporting a 5.97% ownership stake in U.S. Auto Parts Network.
Alphatec Holdings, Inc. (NASDAQ:ATEC) – has filed a new SC 13G, reporting a 7.50% ownership stake in Alphatec Holdings.
Amended Activist Investor Filings
Genomic Health, Inc. (NASDAQ:GHDX) – has filed an amended Schedule 13D/A, reporting a 40.40% ownership stake in Genomic Health.
Aerohive Networks, Inc. (NYSE:HIVE) – has filed an amended Schedule 13D/A, reporting a 5.90% ownership stake in Aerohive Networks. This is a decrease of 15.71% from their previous filing.
Signet Jewelers Ltd. (NYSE:SIG) – has filed an amended Schedule 13D/A, reporting a 3.10% ownership stake in Signet Jewelers. This is a decrease of 48.33% from their previous filing.
MINDBODY, Inc. (NASDAQ:MB) – has filed an amended Schedule 13D/A, reporting a 9.40% ownership stake in MINDBODY. This is a decrease of 14.55% from their previous filing.
Cascade Bancorp (NASDAQ:CACB) – has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Cascade Bancorp. This is a decrease of 100.00% from their previous filing.
Western Refining, Inc. (NYSE:WNR) – has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Western Refining. This is a decrease of 100.00% from their previous filing.
Western Refining, Inc. (NYSE:WNR) – has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Western Refining. This is a decrease of 100.00% from their previous filing.
Amended Passive Investor Filings
Psychemedics Corp. (NASDAQ:PMD) – has filed an amended Schedule 13D/A, reporting a 4.90% ownership stake in Psychemedics. This is a decrease of 12.50% from their previous filing.
Protagonist Therapeutics, Inc. (NASDAQ:PTGX) – has filed an amended Schedule 13D/A, reporting a 12.20% ownership stake in Protagonist Therapeutics. This is an increase of 33.19% from their previous filing.
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