Stocks

Snapchat, Inc. (SNAP) reports new 7.9% owner; Babcock & Wilcox Enterprises Inc. (BW) reports new 11.8% activist owner

Benchmark Capital Partners Vii, L.p. has filed an SC 13G form with the Securities and Exchange Commission (SEC) disclosing ownership of 73,507,064 shares of Snapchat, Inc. (NYSE:SNAP). This represents 7.9 percent ownership of the company.

Steel Partners Holdings L.p. has filed an SC 13D form with the Securities and Exchange Commission (SEC) disclosing ownership of 5,180,506 shares of Babcock & Wilcox Enterprises Inc. (NYSE:BW). This represents 11.8 percent ownership of the company. Babcock & Wilcox Enterprises Inc. has declared a standard industrial code (sic) of 3433 which is the “Heating Equipment, Except Electric and Warm Air Furnaces” 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.

Babcock & Wilcox Enterprises Inc. (BW) – Steel Partners Holdings L.p. has filed a new SC 13D, reporting a 11.80% ownership stake in Babcock & Wilcox Enterprises.

Transocean, Inc. (RIG) – Perestroika has filed a new SC 13D, reporting a new ownership stake in Transocean.

Lattice Semiconductor Corp. (LSCC) – Lion Point Capital, LP has filed a new SC 13D, reporting a 6.20% ownership stake in Lattice Semiconductor.

Coastway Bancorp, Inc. (CWAY) – Seidman Lawrence B has filed a new SC 13D, reporting a 5.10% ownership stake in Coastway Bancorp.

Resolute Energy Corporation (REN) – Fir Tree Inc. has filed a new SC 13D, reporting a 8.97% ownership stake in Resolute Energy.

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.

La Jolla Pharmaceutical Co. (LJPC) – Jennison Associates Llc has filed a new SC 13G, reporting a 10.00% ownership stake in La Jolla Pharmaceutical Co..

Marinus Pharmaceuticals, Inc. (MRNS) – Jennison Associates Llc has filed a new SC 13G, reporting a 6.70% ownership stake in Marinus Pharmaceuticals.

SeaWorld Entertainment, Inc. (SEAS) – Walleye Trading LLC has filed a new SC 13G, reporting a 6.80% ownership stake in SeaWorld Entertainment.

Agile Therapeutics, Inc. (AGRX) – Franklin Resources Inc has filed a new SC 13G, reporting a 8.40% ownership stake in Agile Therapeutics.

Lyon William Homes (WLH) – Integrated Core Strategies (us) Llc has filed a new SC 13G, reporting a 5.10% ownership stake in Lyon William Homes. This is an increase of 6.25% from their previous filing.

Penny Mac Mortgage Investment Trust (PMT) – Goldman Sachs Asset Management, L.p. has filed a new SC 13G, reporting a 5.10% ownership stake in Penny Mac Mortgage Investment Trust.

Snapchat, Inc. (SNAP) – Benchmark Capital Partners Vii, L.p. has filed a new SC 13G, reporting a 7.90% ownership stake in Snapchat.

M/I Homes, Inc. (MHO) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 7.90% ownership stake in M.

WildHorse Resource Development Corp (WRD) – KKR Fund Holdings L.P. has filed a new SC 13G, reporting a 5.50% ownership stake in WildHorse Resource Development.

McGrath Rent Corp. (MGRC) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 6.80% ownership stake in McGrath Rent.

Gibraltar Industries, Inc. (ROCK) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 5.20% ownership stake in Gibraltar Industries.

Insteel Industries, Inc. (IIIN) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 6.40% ownership stake in Insteel Industries.

Lakeland Financial Corp. (LKFN) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 7.30% ownership stake in Lakeland Financial.

Landec Corp. (LNDC) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 9.90% ownership stake in Landec.

Delta Apparel Company (DLA) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 5.70% ownership stake in Delta Apparel.

First of Long Island Corp. (The) (FLIC) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 6.80% ownership stake in First of Long Island.

Full House Resorts, Inc. (FLL) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 8.20% ownership stake in Full House Resorts.

Cohu, Inc. (COHU) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 5.60% ownership stake in Cohu.

Continental Materials Corp. (CUO) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 6.50% ownership stake in Continental Materials.

Brinker International, Inc. (EAT) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 5.50% ownership stake in Brinker International.

Sharps Compliance Corp. (SMED) – Goodman Financial Corp has filed a new SC 13G, reporting a 6.20% ownership stake in Sharps Compliance. This is an increase of 10.71% from their previous filing.

Armstrong Flooring, Inc. (AFI) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 5.70% ownership stake in Armstrong Flooring.

Albemarle Corp. (ALB) – Jennison Associates Llc has filed a new SC 13G, reporting a 7.10% ownership stake in Albemarle.

AAR Corp. (AIR) – Franklin Mutual Advisers Llc has filed a new SC 13G, reporting a 7.70% ownership stake in AAR.

Vishay Intertechnology, Inc. (VSH) – Ajo, Lp has filed a new SC 13G, reporting a 5.01% ownership stake in Vishay Intertechnology.

Fintel provides free investor tools for data driven investors. Get full coverage of top rated fund Pine River Capital Management L.P.