Barron's Activist Stocks 4-19-2008
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Date updated:04-19-2008

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
  • +
  • JTX
    Jackson Hewitt Ta
  • $2.26
  • -9.24%
  • $2.54

Shamrock Activist Value Fund wants JTX to remove its shareholder-rights plan, de-stagger its board and institute annual elections for all directors -- and to adopt a majority-voting standard for election of directors who run unopposed. Shamrock said these changes in governance would be "an important step towards improving board accountability and creating greater value" for shareholders. Shamrock holds 2,883,000 shares (10.14% of the total outstanding).

People owning JTX also tend to own: ABTDGXEPDFMDGSKJNJJOSB

TheStreet.com Rating: D+ What is this?

  • +
  • MEG
    Media General Cl
  • $8.22
  • +1.48%
  • $8.26

Funds managed by Mario Gabelli's Gamco Investors (ticker: GBL) will support a slate of directors nominated in March by dissident shareholder Harbinger Capital Partners at next week's annual meeting. The nominees include former broadcasting executive J. Daniel Sullivan, investment manager F. Jack Liebau Jr. and turnaround consultant Eugene I. Davis. MEG hosts its annual meeting April 24, It has proposed its own slate for the nine-member board and called Harbinger's nominees "not well-qualified." The Gabelli group holds 4,994,347 shares (22.39%).

People owning MEG also tend to own: AAPLBGGBLDLBGSHDOSG

TheStreet.com Rating: D What is this?

  • +
  • FBN
    Furniture Brnds I
  • $4.09
  • -4.44%
  • $4.26

Sun Capital Securities Group says it will support most of FBN's slate of director nominees, but not FBN nominees Katherine Button Bell, Richard B. Loynd and Albert E. Suter. Sun is soliciting shareholder proxies for its nominees: Alan Schwartz, Ira Kaplan and T. Scott King. FBN is urging shareholders to vote for its eight nominees and none of the dissident's picks. Sun Capital holds 4,581,881 shares (9.45%).

People owning FBN also tend to own: ETHMASCLSCQBEMMSGNSSJUPM

TheStreet.com Rating: D What is this?

  • +
  • EGY
    Vaalco Energy Inc
  • $4.09
  • +0.49%
  • $4.08

Nanes Delorme Partners I plans to nominate Julien Balkany, Leonard Toboroff and Clarence Cottman III for election to Vaalco's board at EGY's annual meeting. The investor reserves the right to nominate additional nominees if there are excess vacancies or if EGY increases the board's size; and it wants Vaalco to take several steps to increase shareholder value, including evaluating strategic alternatives. Nanes Delorme holds 4,700,000 shares (8%).

People owning EGY also tend to own: BQIAIGSIRICCJPTENSUSWN

TheStreet.com Rating: D+ What is this?

  • +
  • MVCO
    N/a
  • $10.00
  • 0.00
  • $10.00

Carpe Diem Capital Management has begun discussions with MVCO about corporate governance and strategic alternatives. The investment firm said progress was made toward establishing a "meaningful and defined unpaid advisory role" for Carpe Diem President John Ziegelman in the strategic-alternatives process. Carpe Diem awaits MVCO's "full and complete disclosure" on its strategic-alternatives process; it has also hired Mackenzie Partners for assistance in case Carpe Diem solicits proxies supporting Ziegelman's nomination to the board and its shareholder proposal to amend bylaws. Carpe Diem has 424,415 shares (8.2%).

People owning MVCO also tend to own: MSFTPPRDXAEYAMACANGNBITSBRR

TheStreet.com Rating: No Rating What is this?

  • +
  • SSTI
    Silicon Storage T
  • $2.84
  • 0.00%
  • $2.84

Riley Investment Management wrote to SSTI nominating four directors for election to the board at the "08 annual meeting; nominated were Bryant R. Riley, Eric Singer, Melvin Keating and Bob D'Agostino. If elected, Riley said the nominees would take "an active role." Riley holds (5.4%)

People owning SSTI also tend to own: PTENBKHMESCLPLBAFOPAMKRAMTD

TheStreet.com Rating: D+ What is this?

  • +
  • DBD
    Diebold Inc
  • $27.56
  • +1.14%
  • $27.20

A group of funds including Gamco Investors reported ownership of 4,706,900 (7.15%), after buying 4,698,200 from March 3 to April 9 at $36.06 to $39.05 each.

People owning DBD also tend to own: CHKGGLGFNBRPVRRTKSHLD

TheStreet.com Rating: C What is this?

  • +
  • BONT
    The Bon-ton Store
  • $8.77
  • 0.00%
  • $N/A

A group of funds managed by Gamco Investors reported ownership of 741,000 shares (5.19%), after purchasing 242,500 from Feb. 11 to April 7 at $5.04 to $7.30 apiece.

People owning BONT also tend to own: ADMCMGCOPJMBASPYSWKST

TheStreet.com Rating: D What is this?

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