Stocks

PhotoMedex, Inc. (PHMD) gets new 14.7% activist investor; Apricus Biosciences, Inc. (APRI) gets activist cut of 56%

Opportunity Fund I-SS, Llc has filed an SC 13D form with the Securities and Exchange Commission (SEC) disclosing ownership of 1,871,833 shares of PhotoMedex, Inc. (NASDAQ:PHMD). This represents 14.71 percent ownership of the company. PhotoMedex, Inc. has declared a standard industrial code (sic) of 3845 which is the “Electromedical and Electrotherapeutic Apparatus” industry.

Sarissa Capital Management LP has filed an SC 13D/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 2,120,361 shares of Apricus Biosciences, Inc. (NASDAQ:APRI). This represents 13.5 percent ownership of the company. Previously, Sarissa Capital Management LP had reported owning 21,203,577 shares, indicating a decrease of -90.00 percent. Apricus Biosciences, Inc. has declared a standard industrial code (sic) of 2834 which is the “Pharmaceutical Preparations” 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.

Cardtronics, Inc. (CATM) – Hudson Executive Capital LP has filed a new SC 13D, reporting a 13.10% ownership stake in Cardtronics.

PhotoMedex, Inc. (PHMD) – Opportunity Fund I-ss, Llc has filed a new SC 13D, reporting a 14.71% ownership stake in PhotoMedex.

Amended Activist Investor Filings

Monotype Imaging Holdings, Inc. (TYPE) – Starboard Value LP has filed an amended Schedule 13D/A, reporting a 6.10% ownership stake in Monotype Imaging Holdings. This is a decrease of 10.29% from their previous filing.

Apricus Biosciences, Inc. (APRI) – Sarissa Capital Management LP has filed an amended Schedule 13D/A, reporting a 13.50% ownership stake in Apricus Biosciences. This is a decrease of 56.38% from their previous filing.

Rapid7, Inc. (RPD) – Bain Capital Venture Fund 2007, L.P. has filed an amended Schedule 13D/A, reporting an updated ownership stake in Rapid7.

CounterPath Corp. (CPAH) – Matthews Terence H has filed an amended Schedule 13D/A, reporting a 26.10% ownership stake in CounterPath. This is a decrease of 2.97% from their previous filing.

Sharps Compliance Corp. (SMED) – Pessin Norman H has filed an amended Schedule 13D/A, reporting a 1.00% ownership stake in Sharps Compliance. This is a decrease of 33.33% from their previous filing.

GrubHub Inc. (GRUB) – Pelham Capital Ltd. has filed an amended Schedule 13D/A, reporting a 4.00% ownership stake in GrubHub. This is a decrease of 23.08% from their previous filing.

Key Technology, Inc. (KTEC) – Schreyer Leslie J has filed an amended Schedule 13D/A, reporting a 19.20% ownership stake in Key Technology. This is a decrease of 2.54% 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.

AMC Entertainment Holdings, Inc. (AMC) – Mittleman Brothers, Llc has filed a new SC 13G, reporting a 5.90% ownership stake in AMC Entertainment Holdings.

Manitex International, Inc. (MNTX) – WealthTrust Axiom LLC has filed a new SC 13G, reporting a 5.20% ownership stake in Manitex International.

Appian Corp. (APPN) – Novak Biddle Venture Partners V L P has filed a new SC 13G, reporting a 44.00% ownership stake in Appian.

Brookdale Senior Living, Inc. (BKD) – Morgan Stanley has filed a new SC 13G, reporting a 7.10% ownership stake in Brookdale Senior Living.

AAC Holdings, Inc. (AAC) – Morgan Stanley has filed a new SC 13G, reporting a 5.10% ownership stake in AAC Holdings.

Commercehub Inc (CHUBK) – Pembroke Management, LTD has filed a new SC 13G, reporting a 6.35% ownership stake in Commercehub.

Recon Technology, Ltd. (RCON) – CVI Investments, Inc. has filed a new SC 13G, reporting a 6.60% ownership stake in Recon Technology.

ICHOR HOLDINGS, LTD. (ICHR) – Swedbank Robur Fonder AB has filed a new SC 13G, reporting a 7.00% ownership stake in ICHOR HOLDINGS.

iStar Inc. (STAR) – Loomis Sayles & Co L P has filed a new SC 13G, reporting a 8.02% ownership stake in iStar.

Tidewater, Inc. (TDW) – Northwestern Mutual Life Insurance Co has filed a new SC 13G, reporting a 8.00% ownership stake in Tidewater.

Invesco Ltd. (IVZ) – Baillie Gifford & Co has filed a new SC 13G, reporting a 5.82% ownership stake in Invesco.

Voya Financial, Inc. (VOYA) – Baillie Gifford & Co has filed a new SC 13G, reporting a 5.98% ownership stake in Voya Financial.

Amended Passive Investor Filings

Union Bankshares Corp (UBSH) – Carlyle Group L.P. has filed an amended Schedule 13D/A, reporting an updated ownership stake in Union Bankshares.

HC2 Holdings, Inc. (HCHC) – Mittleman Brothers, Llc has filed an amended Schedule 13D/A, reporting a 7.90% ownership stake in HC2 Holdings. This is an increase of 54.90% from their previous filing.

Volt Information Sciences, Inc. (VISI) – Shaw Jerome has filed an amended Schedule 13D/A, reporting a 11.89% ownership stake in Volt Information Sciences. This is a decrease of 0.50% from their previous filing.

Veeva Systems Inc. (VEEV) – Emergence Capital Partners Ii Lp has filed an amended Schedule 13D/A, reporting a 4.90% ownership stake in Veeva Systems. This is a decrease of 22.22% from their previous filing.

Total System Services, Inc. (TSS) – Synovus Financial Corp has filed an amended Schedule 13D/A, reporting a 7.47% ownership stake in Total System Services. This is a decrease of 0.53% from their previous filing.

PC-Tel, Inc. (PCTI) – Chartwell Investment Partners, Llc has filed an amended Schedule 13D/A, reporting a 10.04% ownership stake in PC-Tel. This is an increase of 39.83% from their previous filing.

Innovative Solutions & Support, Inc. (ISSC) – WealthTrust Axiom LLC has filed an amended Schedule 13D/A, reporting a 8.88% ownership stake in Innovative Solutions & Support. This is a decrease of 7.02% from their previous filing.

Sonic Foundry, Inc. (SOFO) – WealthTrust Axiom LLC has filed an amended Schedule 13D/A, reporting a 9.91% ownership stake in Sonic Foundry. This is a decrease of 14.79% from their previous filing.

TCF Financial Corp. (TCB) – Tcf Financial Corp has filed an amended Schedule 13D/A, reporting a 4.70% ownership stake in TCF Financial. This is a decrease of 9.62% from their previous filing.

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