Barron's Activist Stocks 3-19-07
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Created by Barrons
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Date updated:03-17-2007

Each week Barrons 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
  • +
  • TOPP
    Topp
  • $0.00
  • N/A
  • $N/A

Topps (TOPP) An investor group including Topps' director Arnaud Ajdler and Crescendo Investments II wrote to Topps' board, criticizing it for actions taken at a March 13 meeting. As reported, the board blocked two directors from officially monitoring acquisition offers that might compete with a recently announced -- and controversial -- bid to buy the trading-card company for about $385 million. Topps expressed concern over whether Ajdler and investor Timothy Brog could "adequately represent the best interests of the company's stockholders" given their "publicly stated opposition" to Topps' proposed merger with Tornante Co. and Madison Dearborn Partners. The Crescendo group holds 2,547,700 shares (6.6%).

People owning TOPP also tend to own: CENTANPIARWATKBACCCAG

TheStreet.com Rating: No Rating What is this?

  • +
  • AVCA
    Advocat
  • $6.5525
  • -1.02%
  • $6.60

Advocat (AVCA) Bristol Investment Fund has urged Advocat to retain a financial adviser to begin an auction process, solicit offers and engage in discussions with potential strategic buyers. It wants Advocat to form a committee of outside directors to evaluate offers and other alternatives. Bristol recommends that AVCA focus on a stock-buyback plan. Bristol holds 256,861 shares (4.4%).

People owning AVCA also tend to own: INTCMSFTCOPHNZIHRISIGORCL

TheStreet.com Rating: C What is this?

  • +
  • INSP
    Infospace
  • $8.25
  • -0.60%
  • $8.35

InfoSpace (INSP) A shareholder group including Castlerigg Master Investments and Sandell Asset Management recommends that InfoSpace commit to $15 million in cost-cutting and return at least $300 million of its cash balance to shareholders through a share buyback and a dividend. The group also suggested that, if management doesn't close the value gap, the board should engage a financial adviser to sell INSP in whole or part. The shareholder group owns about 2.77 million shares (8.8%).

People owning INSP also tend to own: AACCARBXOVTISOLDUBETWPLJBLU

TheStreet.com Rating: No Rating What is this?

  • +
  • DVSA
    Dvsa
  • $0.00
  • N/A
  • $N/A

Diversa (DVSA) T. Rowe Price (TROW) opposes Diversa's proposed merger with Celunol. The investor expressed "dissatisfaction" with the proposed transaction and intends to determine what alternative courses of action may better serve its interests. T. Rowe holds about 3.43 million shares (7.7%).

People owning DVSA also tend to own: ADMANDEAVRBFRE.PKDILGFET.PKGPRE

TheStreet.com Rating: No Rating What is this?

  • +
  • EDUC
    Educational Devel
  • $5.2501
  • 0.00%
  • $N/A

Educational Development (EDUC) Investor Richard Scott reported ownership of 313,138 shares (9.01%), after buying them at $7 each in a private placement March 6 -- making Scott the second-largest shareholder of the company.

People owning EDUC also tend to own: ACUADYAEYAFAMARCIARDNAARTL

TheStreet.com Rating: C What is this?

  • +
  • UTEK
    Ultratech
  • $13.41
  • -1.40%
  • $13.57

Ultratech (UTEK) Thales Fund Management boosted its stake to about 3.37 million shares (14.5%), from 2.8 million shares (12.1%) reported on Feb. 22. Thales Fund expects to acquire additional shares. In January, the fund disclosed it had sent a letter to UTEK asking it to consider a sale of the company as a way to maximize shareholder value.

People owning UTEK also tend to own: JAOLXTWCUXACOALTIARWRBFNH.OBBIPH.OB

TheStreet.com Rating: C+ What is this?

  • +
  • LSCO
  • $0.00
  • 0.00%
  • $N/A

Lesco (LSCO) A group of funds managed by Mario Gabelli's Gamco Investors (GBL) reported ownership of 644,311 shares (7.04%), after buying them from Feb. 20 to March 9 at $14.25 to $27.39 each.

People owning LSCO also tend to own: ACORCTOEHPGFFINFSLAURLGN

TheStreet.com Rating: No Rating What is this?

  • +
  • OPWV
    Openwave Systems
  • $2.44
  • +0.41%
  • $2.47

Openwave Systems (OPWV) A group including Harbinger Capital Partners Master Fund I and Harbert Management raised its stake to 10.61 million shares (11.2%), after buying 610,000 on March 6-7 at $8.20 to $8.30 each.

People owning OPWV also tend to own: MOTPALMAKAMAPAAUYDIVXEMKR

TheStreet.com Rating: D- What is this?

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