Stocks

Avid Technology, Inc. (AVID) and Immersion Corporation (IMMR) Activist Update

Cove Street Capital, LLC has filed an SC 13D/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 6,141,779 shares of Avid Technology, Inc. (NASDAQ:AVID). This represents 14.91 percent ownership of the company. Previously, Cove Street Capital, LLC had reported owning 6,465,575 shares, indicating a decrease of -5.01 percent. Avid Technology, Inc. has declared a standard industrial code (sic) of 3861 which is the “Photographic Equipment and Supplies” industry.

VIEX Capital Advisors, LLC has filed an SC 13D/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 2,083,576 shares of Immersion Corporation (NASDAQ:IMMR). This represents 7.1 percent ownership of the company. Previously, VIEX Capital Advisors, LLC had reported owning 1,845,434 shares, indicating an increase of 12.90 percent. Immersion Corporation has declared a standard industrial code (sic) of 3577 which is the “Computer Peripheral Equipment, Not Elsewhere Classified” industry.

When a person or group of persons acquires beneficial ownership of more than 5% of a company’s equity securities, they are required to file a Schedule 13D or 13G with the SEC. If these groups intend to influence management into changing the business strategy, they are considered “activist” investors. There is considerable academic research that suggest activist investors contribute to excess returns in equities in the subsequent twelve months after the event.

Investors that acquire 10% or more of a company’s shares, or that gain a board seat, are considered insiders by the SEC and are subject to stricter insider trading filing requirements.

New Activist Investor Filings

Investors that acquire more than 5% of the shares of a company and intend to influence management are considered activist investors and must file a 13D.

Determine, Inc. (DTRM) – Subin Neil S has filed a new SC 13D, reporting a 30.40% ownership stake in Determine.

Centrus Energy Corp. (LEU) – Subin Neil S has filed a new SC 13D, reporting a 11.30% ownership stake in Centrus Energy.

Inspired Entertainment, Inc. (INSE) – Alvarez Luke Lyon has filed a new SC 13D, reporting a 5.00% ownership stake in Inspired Entertainment.

UMH Properties, Inc. (UMH) – Landy Eugene W has filed a new SC 13D, reporting a 3.28% ownership stake in UMH Properties. This is a decrease of 16.96% from their previous filing.

Amended Activist Investor Filings

Imperva, Inc. (IMPV) – Elliott Associates, L.P. has filed an amended Schedule 13D/A, reporting a 4.10% ownership stake in Imperva. This is a decrease of 8.89% from their previous filing.

Inspired Entertainment, Inc. (INSE) – Hydra Industries Sponsor Llc has filed an amended Schedule 13D/A, reporting a 17.20% ownership stake in Inspired Entertainment.

(EAGL) – Sapphire Holding S.a R.l. has filed an amended Schedule 13D/A, reporting a 58.70% ownership stake in EAGL. This is an increase of 5.96% from their previous filing.

Mellanox Technologies, Ltd. (MLNX) – Oracle Corp has filed an amended Schedule 13D/A, reporting a 4.33% ownership stake in Mellanox Technologies.

Agios Pharmaceuticals, Inc. (AGIO) – Celgene European Investment Co LLC has filed an amended Schedule 13D/A, reporting a 12.10% ownership stake in Agios Pharmaceuticals. This is a decrease of 2.42% from their previous filing.

Avid Technology, Inc. (AVID) – Cove Street Capital, LLC has filed an amended Schedule 13D/A, reporting a 14.91% ownership stake in Avid Technology. This is a decrease of 5.15% from their previous filing.

Immersion Corporation (IMMR) – VIEX Capital Advisors, LLC has filed an amended Schedule 13D/A, reporting a 7.10% ownership stake in Immersion. This is an increase of 12.70% from their previous filing.

New Passive Investor Filings

Investors that acquire more than 5% of the shares of a company but have no intention of influencing management are considered passive investors and must file a 13G.

Communications Sales & Leasing, Inc. (CSAL) – BlackRock Inc. has filed a new SC 13G, reporting a 8.10% ownership stake in Communications Sales & Leasing.

Xerox Corp. (XRX) – BlackRock Inc. has filed a new SC 13G, reporting a 5.90% ownership stake in Xerox. This is a decrease of 7.81% from their previous filing.

Coach, Inc. (COH) – BlackRock Inc. has filed a new SC 13G, reporting a 6.30% ownership stake in Coach.

B. Riley Financial, Inc. (RILY) – Subin Neil S has filed a new SC 13G, reporting a 8.00% ownership stake in B. Riley Financial.

Gyrodyne, LLC (GYRO) – Subin Neil S has filed a new SC 13G, reporting a 7.90% ownership stake in Gyrodyne.

I.D. Systems, Inc. (IDSY) – Subin Neil S has filed a new SC 13G, reporting a 12.70% ownership stake in I.D. Systems.

Intermolecular, Inc. (IMI) – Subin Neil S has filed a new SC 13G, reporting a 10.40% ownership stake in Intermolecular.

Trans World Entertainment Corp. (TWMC) – Subin Neil S has filed a new SC 13G, reporting a 18.80% ownership stake in Trans World Entertainment.

Iteris, Inc. (ITI) – Subin Neil S has filed a new SC 13G, reporting a 14.30% ownership stake in Iteris.

Computer Task Group, Inc. (CTG) – Subin Neil S has filed a new SC 13G, reporting a 8.60% ownership stake in Computer Task Group.

RealNetworks, Inc. (RNWK) – Subin Neil S has filed a new SC 13G, reporting a 8.30% ownership stake in RealNetworks.

CafePress Inc. (PRSS) – Subin Neil S has filed a new SC 13G, reporting a 19.99% ownership stake in CafePress.

Monmouth Real Estate Investment Corp. (MNR) – Landy Eugene W has filed a new SC 13G, reporting a new ownership stake in Monmouth Real Estate Investment.

Intelsat SA (I) – Arbiter Partners Capital Management LLC has filed a new SC 13G, reporting a 5.07% ownership stake in Intelsat.

MagnaChip Semiconductor Corp (MX) – Evermore Global Advisors, LLC has filed a new SC 13G, reporting a 9.90% ownership stake in MagnaChip Semiconductor.

Fossil Group, Inc. (FOSL) – Classic Fund Management Aktiengesellschaft has filed a new SC 13G, reporting a 6.09% ownership stake in Fossil Group. This is a decrease of 0.18% from their previous filing.

Rent-A-Center, Inc. (RCII) – Classic Fund Management Aktiengesellschaft has filed a new SC 13G, reporting a 5.70% ownership stake in Rent-A-Center. This is a decrease of 4.52% from their previous filing.

Hershey Company (The) (HSY) – Hershey Trust Co has filed a new SC 13G, reporting a 5.60% ownership stake in Hershey Company. This is a decrease of 34.12% from their previous filing.

Hershey Company (The) (HSY) – Hershey Trust Co Trustee In Trust For Milton Hershey School has filed a new SC 13G, reporting a 5.50% ownership stake in Hershey Company. This is a decrease of 34.52% from their previous filing.

Fintel provides free investor tools for data driven investors. Get full coverage of top rated fund Hitchwood Capital Management LP.