Thursday, December 18, 2008
Saturday, December 13, 2008
Park, who will focus exclusively on activist investments, will join 45 of Wall Street's best investment professionals that provide RealMoney subscribers with a running commentary on actionable investment ideas throughout each trading day.
RealMoney, the paid subscription service for TheStreet.com, provides insights, analysis and detailed investment recommendations from top investment professionals, all in real time.
Thursday, December 11, 2008
1. Obama will look favorably on pro-shareholder measures.
2. The new SEC chair will sponsor several new shareholder-friendly measures.
3. Valuations are on the floor.
4. A flight to quality in hedge funds will benefit activist investors.
5. Management and corporate boards will not want to be viewed as anti-shareholder.
6. There will be a wave of industry consolidation.
7. Activists have the longest lock-up periods of any hedge fund class, so they can put fresh capital to work.
8. Limits on short-selling will benefit activists.
9. Activists will become more blanaced on the long and short sides.
10. There's more to get "active" about than ever.
Wednesday, December 10, 2008
Marc Weingarten and David Rosewater from Schulte Roth & Zabel, a couple of the better legal minds working with activist investors (and some companies too), recently issued an interesting report titled “Shareholder Activism Insight”. Click here to get the full report.
The report highlights current trends in activist investing and provides an outlook for activist investing in the year ahead.
SRZ commissioned mergermarket to interview 25 senior corporate executives and 25 activist investors regarding their thoughts. Here are a few highlights:
- 56% of overall respondents expect to see an increase in shareholder activism over the next 12 months.
- 48% of corporate respondents view activist shareholders as short-term market opportunists.
- 48% of activists believe corporate boards are passive rather than proactive when it comes to maximizing shareholder value.
- 48% of activists were passive investors for a year or more before turning active.
- 67% of corporate respondents believe the best defensive strategy a company can use against activism is maintaining an active dialogue with its shareholders.
Wednesday, December 3, 2008
Below is a summary list of investments made by shareholder activists during November. This information was extracted from Hedge Fund Solutions' Catalyst Equity Research Report(TM), a free in-depth weekly research report on activist investments.
To receive the FREE report subscribe here.
|ABTL||Autobytel Inc||Trilogy Inc|
|ACF||AmeriCredit Corp||Fairholme Capital Management|
|ACTL||Actel Corp||Ramius Capital|
|ADPT||Adaptec, Inc||Steel Partners|
|ARCW||Arc Wireless Solutions||Brean Murray Carret Group|
|ATSG||Air Transport Services Group||Perella Weinberg Partners|
|AVGN||Avigen Inc||Biotechnology Value Fund|
|BBI||Blockbuster Inc||Marlin Sams Fund|
|BEE||Strategic Hotels & Resorts||Security Capital Research & Management|
|BITI||Bio-Imaging Technologies||Healthinvest Partners|
|CHG||CH Energy Group Inc||Gamco Investors|
|CHIC||Charlotte Russe Holding Inc||KarpReilly Capital Management|
|CPN||Calpine Corp||Harbinger Capital|
|CRXX||CombinatoRX, Incorporated||Biotechnology Value Fund|
|CTO||Consolidated Tomoka Land Co||Wintergreen Advisers|
|CWLZ||Cowlitz Bancorporation||Crescent Capital|
|DBD||Diebold Inc||Gamco Investors|
|DCAP||DCAP Group||Infinity Capital Partners|
|DVD||Dover Motorsports||Mario Cibelli|
|ENTU||Entrust Inc.||Empire Capital Partners|
|FACE||Physicians Formula Holdings, Inc||Mill Road Capital|
|FSCI||Fisher Communications||Gamco Investors|
|FTAR.OB||Footstar Inc||Schultze Asset Management|
|GBE||Grubb & Ellis Company||Anthony Thompson|
|GGP||General Growth Properties||Pershing Square Capital|
|GSLA||GS Financial Corp||FJ Capital Long/Short Equity Fund|
|HCBK||Hudson City Bancorp||Gamco Investors|
|HFFC||HF Financial Corp||PL Capital|
|INFS||Infocus Corp||Nery Capital Partners|
|INFS||Infocus Corp||Lloyd Miller|
|ISH||International Shipholding Corp||Liberty Shipping Group|
|KANA.OB||Kana Software||KVO Capital Management|
|KEYN||Keynote Systems||Ramius Capital|
|KFS||Kingsway Financial Services||Joseph Stilwell|
|KONA||Kona Grill||Mill Road Capital|
|LCAV||LCA-Vision Inc||Stephen Joffe|
|LDIS||Leadis Technology Inc||Kettle Hill Capital Management|
|LNET||LodgeNet Interactive Corporation||Mark Cuban|
|LTM||Life Time Fitness||Green Equity Investors|
|MCGC||MCG Capital Corporation||Springbok Capital Management|
|MGAM||Multimedia Games Inc.||Dolphin Limited Partnership|
|MGI||Moneygram Interntaional Inc||Blum Capital|
|MIM||MI Developments||Greenlight Capital|
|MYE||Myers Industries Inc||Gamco Investors|
|NAV||Navistar International||Owl Creek|
|NLS||Nautilus Inc||Sherborne Investors|
|NOOF||New Frontier Media||Steel Partners|
|NYT||New York Times||Harbinger Capital|
|OEH||Orient-Express Hotels||SAC Capital; DE Shaw|
|ORNG||Orange 21||Costa Brava|
|PBIP||Prudential Bancorp Inc. of PA||Joseph Stilwell|
|PGRI.OB||Platinum Energy Resources Inc||Syd Ghermezian|
|PHH||PHH Corp.||Pennant Capital Management|
|PNNW||Pennichuck Corp||Gamco Investors|
|PPCO||Penwest Pharmaceuticals Co||Perceptive Advisors|
|PRXI||Premier Exhibitions, Inc||Sellers Capital|
|PWER||Power One||Bel Fuse|
|PXG||Phoenix Footwear Group||Reidman Corp|
|RDEN||Elizabeth Arden||Shamrock Activist Value Fund|
|SCOP||Scopus Video Networks Ltd.||Optibase Ltd|
|SECX.PK||SED International Holdings||Hummingbird Management|
|SLTC||Selectica Inc||Trilogy Inc (Versata Enterprises)|
|SNG||Canadian Superior Energy||Palo Alto Investors|
|SNSTA||Sonesta International Hotels||Gamco|
|SUAI||Specialty Underwriters Alliance||Philip Stephenson|
|SUMT||SumTotal Systems||Discovery Capital|
|SUTM.OB||Sun-Times Media Group Inc.||K Capital|
|SUTM.OB||Sun-Times Media Group Inc.||Davidson Kempner Partners|
|SWWI||Simon Worldwide Inc||Everst Special Situations Fund|
|TIKRF.OB||Tikcro Technologies Ltd||Steven Bronson|
|TXCC||TranSwitch Corp||Brener International Group|
|TXI||Texas Industries||Shamrock Activist Value Fund|
|UIS||Unisys Corp||MMI Investments|
|UTEK||Ultratech Inc||Temujin Fund|
|WBSN||Websense Inc||Shamrock Activist Value Fund|
|WEDC||White Electronic Designs||Wynnefield Capital|
|WINS||SM&A||Mill Road Capital|
|ZLC||Zale Corp.||Breeden Capital Management|