Barrons Activist List 6-04-07
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Created by Barrons
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Date updated:06-03-2007

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
  • +
  • PSAI
    Psai
  • $0.00
  • N/A
  • $N/A

Investor David Nierenberg and his D3 Family Funds entered into a non-binding understanding with Portfolio Logic, which wants to take Pediatric Services private by merging it into a new company. Under the deal's terms, the Nierenberg group would contribute some or all of its Pediatric Services shares to the new company. In exchange, the group would get a minority interest in that company, and David Nierenberg would be named one of its directors. The group, which is expected to vote all its shares in favor of the merger, owns about 1.45 million (19.2%).

People owning PSAI also tend to own: DENNDRTEHNZIASGJRCCMCDNOOF

TheStreet.com Rating: No Rating What is this?

  • +
  • BLG
    Blg
  • $0.00
  • N/A
  • $N/A

Activist hedge-fund manager Robert Chapman made his case for the breakup or sale of Building Materials in a letter to its board. Chapman believes there is "an extremely high level of interest" among other building-supply companies and private-equity firms to acquire the company. Chapman Capital has 2,189,239 shares (7.4%

People owning BLG also tend to own: DGXECPGFROGGCHWLYGMRH

TheStreet.com Rating: No Rating What is this?

  • +
  • PKTR
    Packeteer
  • $0.00
  • 0.00%
  • $N/A

A group including Elliott Associates asserts that Packeteer has "leading technology" in one of the networking market's fastest-growing segments, but has been unable to capitalize on it. Elliott says the business segment in which Packeteer operates is becoming "increasingly competitive" and that the technology might prove "extremely valuable to a larger acquirer looking to enter the wide-area network optimization market," or to supplement its product lines. The Elliott group beneficially owns about 2.27 million shares (6.3%)

People owning PKTR also tend to own: BUDCECODILGSMOMRHTYC

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  • +
  • VTRU
    Vtru
  • $0.00
  • N/A
  • $N/A

Brencourt Advisors opposes One Equity Partners' $48.50-a-share bid for Vertrue as too low. Brencourt believes that there are other ways to increase shareholder value. Brencourt encouraged the board to revisit a leveraged recapitalization of the company's balance sheet and to use those proceeds to fund a special dividend to shareholders. Brencourt Advisors holds 938,581 shares (9.66

People owning VTRU also tend to own: BDYBLGCVNSORNGPKTRPSAISJCK.PK

TheStreet.com Rating: No Rating What is this?

  • +
  • BDY
    Bdy
  • $0.00
  • N/A
  • $N/A

CEO Daniel Glassman offered to buy the drug developer for $21.50 a share. If the offer, which he submitted to a special committee of Bradleys' board, succeeds, he'd take the company private. Glassman said he would expect to remain as chief executive and would expect Bradley's senior management team to stay on. He said that the transaction would be financed through rollover equity, supplied by him and "others," and new cash equity and debt financing. Glassman reported owning 2.11 million shares (12.4%).

People owning BDY also tend to own: AUYIMAXCHRSCRVLDTVGESOMG

TheStreet.com Rating: No Rating What is this?

  • +
  • CVNS
    Cvns
  • $0.00
  • N/A
  • $N/A

Funds managed by investor Mario Gabelli reported owning 1,949,466 shares (5.34%), which were bought from April 26 to May 23 at prices ranging from $33.27 to $33.61.

People owning CVNS also tend to own: ACXMBEASBERBJSCKHCYDRIV

TheStreet.com Rating: No Rating What is this?

Loeb Partners reported ownership of 328,149 shares (5.7%) after buying 99,867 from May 1 to 18 at $1.16 to $1.47 a share.

People owning SJCK.PK also tend to own: BDYBLGCVNSORNGPKTRPSAIVTRU

TheStreet.com Rating: No Rating What is this?

  • +
  • ORNG
    Orange 21 Inc.
  • $0.70
  • 0.00%
  • $N/A

Thesis Capital Management raised its stake to 611,799 shares (7.6%) from the 514,088 (6.4%) that it had reported on April 25.

People owning ORNG also tend to own: DRRXIONMTSXBDYBLGCVNSPKTR

TheStreet.com Rating: D What is this?

 

Start Price

Return Value

Start Date

PSAI 15.91 ------ Jun 2nd
BLG 15.10 ------ Jun 2nd
PKTR 10.49 ------ Jun 2nd
VTRU 48.30 ------ Jun 2nd
BDY 22.26 ------ Jun 2nd
CVNS 33.79 ------ Jun 3rd
SJCK.PK 1.43 +34.27% Jun 3rd
ORNG 6.4575 -89.16% Jun 3rd

Average return:

+8.59%

Success rate:

50%

Hated Stocks:

AGL 25.51 +37.01% Jun 3rd
ACOR 19.70 +52.23% Jun 3rd

Tracking Started: 06-02-2007

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