Barron's Activist Stocks 11-03-2007
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Date updated:11-03-2007

Each week Barron's has a 13D Filings column. 13Ds are filed when a fund (usually an activist hedge fund) accumulates more than 5% of a firm and is planning on pushing for change (e.g.a sale of the company, sale of certain assets, a share buyback, or a share dividend) to unlock value.

See Hate list below where funds filed 13Ds showing a new decrease in particular positions.

symbol name last price % change open
  • +
  • SKS
    Saks Inc
  • $5.79
  • -6.16%
  • $5.97

Icelandic investment firm Baugur Group would like to explore the possibility of acquiring Saks. Baugur Group may make a joint proposal for the acquisition of Saks with Dubai-based Landmark Group, an investment firm with a 1.2% stake in Saks that's owned by Indian retail billionaire Micky Jagtiani. Baugur decided to explore a possible buyout of Saks after meeting Saks managers; it had already consulted with legal and financial advisers about a possible transaction. Baugur expects further discussions with the retailer. Baugur Group currently holds 12.2 million shares (8.5% of the total outstanding).

People owning SKS also tend to own: GWOMMAESAIGARNACSCODGX

TheStreet.com Rating: D+ What is this?

  • +
  • USEY
    Usey
  • $0.00
  • N/A
  • $N/A

Nakash Holding has joined a group of investors that may seek to change control of U.S. Energy Systems. Nakash and several other investment firms, including JAM Capital Associates and Kingsbridge Associates, said they'll seek to influence U.S. Energy's management and board of directors. The combined Nakash group owns 3.8 million shares (16.8%).

People owning USEY also tend to own: AMGNARNACHKCMCSACOPCSCOGE

TheStreet.com Rating: D What is this?

  • +
  • CNBKA
    Century Bancorp A
  • $15.965
  • -0.22%
  • $15.51

AM Partners stated "dissatisfaction" with Century's corporate governance and called on its directors to realize the value of the bank's franchise, for the benefit of shareholders. JAM said Century should either sell to a larger institution that can "pay [its] real economic value," or let the Sloane family take it private at a fair price instead of "running it like a private institution." JAM holds 299,691 shares (8.53%).

People owning CNBKA also tend to own: BLGBXGEDCIMECAMPGNABIOPMR

TheStreet.com Rating: C What is this?

  • +
  • PTA
    Penn Treaty Ameri
  • $1.32
  • 0.00%
  • $N/A

Elkhorn Partners submitted a "disclaimer of affiliation" to the Pennsylvania Insurance Department, asking it to approve the potential election of Alan Parsow to Penn Treaty's board. Elkhorn is also asking the department to approve additional purchases of Penn Treaty common stock, which could increase Elkhorn's stake to 20%. Elkhorn wants the Pennsylvania agency to conclude that the proposed approvals won't result in the investor's acquisition of control of Penn Treaty. Under Pennsylvania law, the term "control" is presumed to exist if any person owns 10% or more of a company's voting securities. Elkhorn currently holds 2,304,150 shares (9.9%).

People owning PTA also tend to own: ABYANLYCRYPIIVINSHANWKPRAA

TheStreet.com Rating: D+ What is this?

  • +
  • MVCO
    Meadow Valley Cor
  • $8.10
  • +0.25%
  • $8.45

An investor group including John Ziegelman and CD Capital Management called for the company to hire an investment bank to look at strategic alternatives, including a possible sale. Ziegelman is disappointed in the management of the company and believes that it should "immediately be put up for sale in order to maximize long-term shareholder value." He also said there are "several financial and strategic purchasers potentially interested in acquiring Meadow Valley." The CD Capital group holds 345,700 shares (6.7%).

People owning MVCO also tend to own: MSFTPPRDXAEYAMACANGNBITSBRR

TheStreet.com Rating: C+ What is this?

  • +
  • EFX
    Equifax Inc
  • $23.87
  • -3.32%
  • $23.82

ValueAct Capital Management reported ownership of 7,523,768 shares (5.3%) after buying 62,770 from Oct. 19 to 23 at $35.56 to $36.96 each.

People owning EFX also tend to own: AFLIDIXIRISKONGNEOGNSSCNVT

TheStreet.com Rating: C What is this?

  • +
  • SQNM
    Sequenom Inc
  • $16.44
  • -5.57%
  • $17.05

Millenco reported ownership of 2,623,158 shares (6.5%), after buying 2,526,163 from Aug. 27 to Oct. 26 at $4.77 to $11.60 each.

People owning SQNM also tend to own: ACGCVSDNASHLDSLBSPYAPPX

TheStreet.com Rating: D- What is this?

  • +
  • KSW
    Ksw Inc
  • $4.62
  • -0.65%
  • $4.70

Moab Capital Partners raised its stake to 463,735 shares (7.5%), from the 381,735 (6.2%) reported on Aug. 22.

People owning KSW also tend to own: ANSBRRPNSNUCTTCECEENGAPI

TheStreet.com Rating: C+ What is this?

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