ValueWalk

Anthera Pharmaceuticals, Inc. (ANTH) and Quotient Limited (QTNT) and Activist Update

By Blondinrikard - Own work, CC BY 3.0, Link

683 Capital Management, LLC has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 1,440,000 shares of Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH). This represents 6.7 percent ownership of the company. Previously, 683 Capital Management, LLC had reported owning 1,440,000 shares, indicating a decrease of 0.00 percent. Anthera Pharmaceuticals, Inc. has declared a standard industrial code (sic) of 2834 which is the “Pharmaceutical Preparations” industry.

Cowan D J Paul E has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 3,496,565 shares of Quotient Limited (NASDAQ:QTNT). This represents 7.67 percent ownership of the company. Previously, Cowan D J Paul E had reported owning 3,780,273 shares, indicating a decrease of -7.50 percent. Quotient Limited has declared a standard industrial code (sic) of 2835 which is the “In Vitro and In Vivo Diagnostic Substances” 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.

American Capital Mortgage Investment Corp. (MTGE) – Agnc Investment Corp. has filed a new SC 13D, reporting a 5.70% ownership stake in American Capital Mortgage Investment.

Aqua Metals, Inc. (AQMS) – Philotimo Fund, LP has filed a new SC 13D, reporting a 6.50% ownership stake in Aqua Metals.

Layne Christensen Co. (LAYN) – Cetus Capital II, LLC has filed a new SC 13D, reporting a 8.70% ownership stake in Layne Christensen Co.. This is a decrease of 2.25% from their previous filing.

Amended Activist Investor Filings

Barington/Hilco Acquisition Corp. (BHACU) – Barington Companies Advisors, LLC has filed an amended Schedule 13D/A, reporting a 5.79% ownership stake in Barington.

Manitowoc Co., Inc. (The) (MTW) – Icahn Carl C has filed an amended Schedule 13D/A, reporting a 4.85% ownership stake in Manitowoc Co..

Build-A-Bear Workshop, Inc. (BBW) – Cannell Capital Llc has filed an amended Schedule 13D/A, reporting a 6.08% ownership stake in Build-A-Bear Workshop. This is an increase of 21.60% from their previous filing.

Long Blockchain Corp. (LTEA) – Cullen Inc Holdings Ltd. has filed an amended Schedule 13D/A, reporting a 9.00% ownership stake in Long Blockchain.

DLH Holdings Corp. (DLHC) – Wynnefield Partners Small Cap Value Lp has filed an amended Schedule 13D/A, reporting a 33.50% ownership stake in DLH Holdings. This is a decrease of 11.38% from their previous filing.

EQT GP Holdings LP (EQGP) – EQT Gathering Holdings, LLC has filed an amended Schedule 13D/A, reporting a 90.10% ownership stake in EQT GP Holdings.

EQT Midstream Partners LP (EQM) – Eqt Corp has filed an amended Schedule 13D/A, reporting a 27.10% ownership stake in EQT Midstream Partners.

Landmark Infrastructure Partners LP (LMRK) – Landmark Dividend Llc has filed an amended Schedule 13D/A, reporting a 12.88% ownership stake in Landmark Infrastructure Partners. This is a decrease of 15.82% from their previous filing.

Red Lion Hotels Corp. (RLH) – HNA Investment Management LLC has filed an amended Schedule 13D/A, reporting a 15.80% ownership stake in Red Lion Hotels.

Xerium Technologies, Inc. (XRM) – AS Investors, LLC has filed an amended Schedule 13D/A, reporting a 6.20% ownership stake in Xerium Technologies. This is a decrease of 15.07% 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.

Cott Corp. (COT) – Point72 Asset Management, L.P. has filed a new SC 13G, reporting a 5.00% ownership stake in Cott. This is an increase of 2.04% from their previous filing.

RadNet, Inc. (RDNT) – Moab Capital Partners LLC has filed a new SC 13G, reporting a 5.20% ownership stake in RadNet.

HopFed Bancorp, Inc. (HFBC) – EJF Capital LLC has filed a new SC 13G, reporting a 8.20% ownership stake in HopFed Bancorp.

ION Geophysical Corp. (IO) – Empery Asset Management, LP has filed a new SC 13G, reporting a 5.25% ownership stake in ION Geophysical.

Dare Bioscience Inc (DARE) – CVI Investments, Inc. has filed a new SC 13G, reporting a 8.80% ownership stake in Dare Bioscience.

Amended Passive Investor Filings

Quotient Limited (QTNT) – Cowan D J Paul E has filed an amended Schedule 13D/A, reporting a 7.67% ownership stake in Quotient. This is a decrease of 39.75% from their previous filing.

National Research Corp. (NRCIA) – Hays Michael D. has filed an amended Schedule 13D/A, reporting an updated ownership stake in National Research.

Anthera Pharmaceuticals, Inc. (ANTH) – 683 Capital Management, LLC has filed an amended Schedule 13D/A, reporting a 6.70% ownership stake in Anthera Pharmaceuticals. This is an increase of 9.84% from their previous filing.

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