Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Asta Funding Inc (ASFI): Mangrove Partners Ups Its Stake and Demands Representation on the Board

Page 1 of 14

According to a newly-amended 13D filing with the US SEC, Nathaniel August‘s Mangrove Partners  Ltd. is trying to engage Asta Funding Inc (NASDAQ:ASFI) in discussions with respect to board representation for Mangrove Partners and if the board continues to ignore their demands, the fund may have to use their right to replace any or all of the current directors. Mangrove Partners continues to invest in Asta Funding Inc (NASDAQ:ASFI) and currently owns 4.00 million shares that represent 33.3% of the company’s outstanding stock, which is significantly more compared to 2.10 million shares or 17.4% of the total amount of shares Mangrove Partners held at the end of April, as disclosed in a previous filing.

Follow Asta Funding Inc (NASDAQ:ASFI)
Trade (NASDAQ:ASFI) Now!

Asta Funding operates in the field of acquiring, managing and servicing its own account, distressed consumer receivables, including semi-performing and charged off receivables, working in four sectors: personal injury claims, GAR disability advocates, consumer receivables and structured settlements. Over the past 12 months, the company’s shares have increased by 21.9%. For the second quarter of fiscal 2016, Asta Funding Inc (NASDAQ:ASFI) reported a loss per share $0.15 and revenue of $10.95 million, versus earnings per share of $0.03 and revenue of $10.79 million for the same quarter in the previous fiscal year.

Among the hedge funds tracked by Insider Monkey, at the end of December Mangrove Partners held the most valuable position, worth around 11.64 million, and the second-biggest position was disclosed by Brian Gaines’ Springhouse Capital Management, valued at 5.15 million. Jim Simons’ Renaissance Technologies also established a valuable position in Asta Funding Inc (NASDAQ:ASFI), worth around $1.00 million.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
THE MANGROVE PARTNERS MASTER FUND, LTD 4,005,701 4,005,701 4,005,701 33.3%
THE MANGROVE PARTNERS FUND 4,005,701 4,005,701 4,005,701 33.3%
MANGROVE PARTNERS FUND (CAYMAN), LTD 4,005,701 4,005,701 4,005,701 33.3%
MANGROVE PARTNERS 4,005,701 4,005,701 4,005,701 33.3%
MANGROVE CAPITAL 4,005,701 4,005,701 4,005,701 33.3%
NATHANIEL AUGUST 4,005,701 4,005,701 4,005,701 33.3%

Page 1 of 14 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 6)1
Asta Funding, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
046220109
(CUSIP Number)
STEVE WOLOSKY, ESQ.
OLSHAN FROME WOLOSKY LLP
1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)
May 11, 2016
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box x.
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
_______________
1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Follow Asta Funding Inc (NASDAQ:ASFI)
Trade (NASDAQ:ASFI) Now!
Page 1 of 14

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!