Barron's Activist Stocks 4-12-2008
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Date updated:04-12-2008

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
  • +
  • MDZ
    Mds Inc
  • $17.74
  • +3.14%
  • $17.23

Obrem Capital Management wants MDS to formally hire financial advisers to explore strategic alternatives. Obrem believes that significant shareholder value could be created through a spinoff or sale of one or several of MDS' business units. It also intends to recommend that MDS review its capital structure and pursue a "significant share-repurchase program." Obrem currently holds 6.24 million shares (5.1% of the total outstanding).

People owning MDZ also tend to own: ACGLAMLNAMXATCMCSKCPKICSE

TheStreet.com Rating: C What is this?

  • +
  • BRNC
    Bronco Drilling C
  • $17.74
  • -1.55%
  • $17.99

Third Avenue Management sent a letter to the company stating its opposition to the proposed acquisition of Bronco by Allis-Chalmers Energy (ALY). Third Avenue said the proposed merger with Allis-Chalmers undervalues Bronco's common stock and is not in the best interest of Bronco's shareholders. In January, Allis-Chalmers, agreed to pay $280 million in cash and $158 million in stock for a combined price of $16.33 a share for Bronco Drilling. Third Avenue Management said it believes that Bronco's shareholders will do better continuing to own Bronco as a stand-alone company, particularly in light of the improving fundamentals in the natural gas drilling market in the U.S. Third Avenue holds 6,166451 shares (23.47%).

People owning BRNC also tend to own: LMSWIREEXPSAIEWZGGGLBL

TheStreet.com Rating: B- What is this?

  • +
  • RPT
    Ramco Gers Prop
  • $21.06
  • -0.47%
  • $21.30

A group including Inland American Real Estate Trust has considered different courses of action, including seeking a merger with RPT, making a tender offer for RPT shares, or seeking board representation. Inland American said it hasn't "reached any conclusion as to any of the...alternatives." Inland American and its affiliates reported ownership of 1,038,537 shares (5.6%).

People owning RPT also tend to own: CSCOHCPTNEWHIXELYHOOBHI

TheStreet.com Rating: C What is this?

  • +
  • TWMC
    Trans World Enter
  • $3.22
  • 0.00%
  • $3.25

Trans World Entertainment CEO Executive Robert Higgins and Riley Investment Management extended the terms of their nonbinding letter of intent to acquire Trans World to May 31. Riley and Higgins are proposing to acquire all of the company's outstanding shares for $5 each in cash. Higgins and his related entities currently hold 34,872,822 shares (46.5%) of Trans World. Riley holds 3,716,325 shares (11.9%).

People owning TWMC also tend to own: DUKOIWINBBIMOVINFLXABCB

TheStreet.com Rating: D What is this?

  • +
  • CSTR
    Coinstar Inc
  • $32.17
  • +2.13%
  • $31.38

Shamrock Activist Value Fund intends to nominate three candidates for Coinstar's board at the company's 2008 annual shareholder meeting. Shamrock, a California investment firm run by Walt Disney (DIS) founding-family member Roy E. Disney, has been asking Coinstar to make corporate-governance changes and de-stagger its classified board structure. Shamrock said its three nominees are Eugene I. Krieger, John M. Panettiere and Arik Ahitov. Shamrock currently holds about 3.7 million shares (13.39%).

People owning CSTR also tend to own: ADMBPDESCELNENERESLRFXI

TheStreet.com Rating: B- What is this?

  • +
  • AVCA
    Advocat Inc
  • $10.39
  • -1.33%
  • $10.51

Bristol Capital Advisors recently sent Advocat written notice of its intent to nominate two directors for election to the company's board at the 2008 annual meeting. In the notice, Bristol said it is nominating Paul Kessler and Richard McKilligan for election to the board. Bristol reported ownership of 294,834 shares (5.13%), after buying those shares from June 8, 2006, to Jan. 28, 2008, at $9.72 to $15.30 each

People owning AVCA also tend to own: INTCMSFTCOPHNZIHRISIGORCL

TheStreet.com Rating: B What is this?

  • +
  • MCF
    Contango Oil & Ga
  • $91.49
  • -0.03%
  • $91.62

Sellers Capital raised its holdings to about 1.95 million shares (12.2%) from 1.9 million (11.9%) reported on Feb. 20. The investor previously reported its stake on a Schedule 13G, a form for passive investors.

People owning MCF also tend to own: BZHGSFSWNVLOWHTBHIBK

TheStreet.com Rating: B+ What is this?

  • +
  • CAO
    Csk Auto Cp
  • $10.49
  • -1.41%
  • $10.73

Funds run by Mario Gabelli increased their stake to 2.95 million shares (6.71%), from 2.5 million (5.67%) reported in February.

People owning CAO also tend to own: ADSXCLCTCMOSIASGISCAPBYPWEI

TheStreet.com Rating: D+ What is this?

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