Barron's Activist Stocks 2-07-2009
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Date updated:02-07-2009

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.

symbol name last price % change open
  • +
  • NRG
    Nrg Energy Inc
  • $23.76
  • -0.21%
  • $23.59

Solus Alternative Asset Management agrees with the NRG board's view that Exelon's unsolicited offer to buy the company for $6.5 billion is inadequate. Solus is the investment adviser to Sola Ltd. and Solus Core Opportunities Master Fund, which, combined, own 14 million NRG Energy shares (6% of the total outstanding).

People owning NRG also tend to own: AMRCBTCNQDCPGERIGRIO

TheStreet.com Rating: B- What is this?

  • +
  • ORCC
    Online Resources
  • $5.37
  • -5.29%
  • $5.47

Tennenbaum Capital Partners plans to nominate three candidates for election to the board at Online Resources' annual meeting. Tennenbaum, which didn't identify the nominees, owns 7,447,570 shares (22%).

People owning ORCC also tend to own: CYBSIPIIAKAMEVRLOGINFLXPZI

TheStreet.com Rating: D+ What is this?

  • +
  • GET
    Gaylord Ent Co Ne
  • $16.77
  • -1.70%
  • $16.74

Gamco Investors (GBL), Gaylord's second-largest shareholder, intends to nominate three candidates for election to the board at the annual meeting. The nominees are Glenn Angiolillo, J. Peter Kline and Robert S. Prather Jr. Gamco holds about 5.47 million shares (13.38%).

People owning GET also tend to own: ACOATUFWLTGBXGWRHXLITG

TheStreet.com Rating: C What is this?

  • +
  • CAMD
    California Micro
  • $3.12
  • +1.63%
  • $3.04

Dialectic Capital Management reiterated its concern over the company's strategic direction, and said that the board needs "new blood." Dialectic wants California Micro Devices to engage an investment bank to sell the company, but California Micro opposes this. Dialectic Capital owns 2,006,000 shares (8.6%).

People owning CAMD also tend to own: ARDICCRTCOSINVAXPLBSLXASUPG

TheStreet.com Rating: D What is this?

  • +
  • TLX
    Trans Lux Cp
  • $0.70
  • -9.09%
  • $0.80

Gamco Investors , the largest shareholder of Trans-Lux, intends to nominate three candidates for election to the board at the annual meeting: Glenn Angiolillo, Salvatore Muoio and George Schiele. Gamco has 894,500 shares (44.28%).

People owning TLX also tend to own: ACSEFARCWAWXBDRBELMBOFIBRNC

TheStreet.com Rating: D What is this?

  • +
  • SNR
    Sunair Elec Inc
  • $2.70
  • +0.37%
  • $2.70

Shareholders including Michael Brauser and Dru A. Schmitt want to replace six of the seven current board members. The shareholders contend that the board, which apparently wants to sell the company, "has not acted in good faith." They are supporting Chairman Richard Rochon, who "has strong personal interests not to sell" Sunair. Massey Services, which has a 9.63% stake in Sunair, recently withdrew its offer to buy the company for 3 a share. Just prior to the withdrawal, Sunair issued a press release announcing that it had retained an investment-banking firm to explore strategic alternatives, including a possible sale. The investors own 5,557,083 shares (39.6%).

People owning SNR also tend to own: ALDNEPICGSITGSLMGAMNTNSNG

TheStreet.com Rating: C- What is this?

  • +
  • SSE
    Southern Conn Ban
  • $3.40
  • 0.00%
  • $3.40

Investor Lawrence B. Seidman sent a letter to the company, nominating himself and Neal Axelrod to the board. Seidman said he also will propose an amendment to the bylaws calling for all directors to stand for election each year. He holds 178,625 shares (6.52%).

People owning SSE also tend to own: CAMDENZNFSCIGETNRGORCCRDEN

TheStreet.com Rating: D What is this?

  • +
  • ENZN
    Enzon Pharmaceuti
  • $8.98
  • +2.39%
  • $8.69

Enzon's board has nominated two candidates to run for election as Class I directors at the annual meeting. One is Alexander J. Denner, a managing director of entities affiliated with activist investor Carl Icahn. The other is Richard C. Mulligan, a professor of genetics at Harvard Medical School. Icahn recently suggested that the biopharmaceutical company consider spinning off certain assets, or selling the entire company. Icahn and his affiliates recently raised their holdings to about 3.52 million shares (7.83%) from 3.09 million (6.93%).

People owning ENZN also tend to own: BEASELOSGMNBIXPHRMQIDBGG

TheStreet.com Rating: C- What is this?

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