Becker Drapkin Management Cuts Exposure to Pacer International, Inc. (PACR)

Matthew Drapkin and Steven R. Becker‘s Becker Drapkin Management has significantly reduced its stake in Pacer International, Inc. (NASDAQ:PACR), a newly amended filing with the SEC showed. Becker Drapkin reported holding 2.16 million shares of the company, the stake amassing 6.1% of the common stock. Previously the holding contained around 3.12 million shares, as revealed in the fund’s latest 13F filing.

Pacer International, Inc. (NASDAQ:PACR)

Becker Drapkin Management focuses on small cap stocks in the U.S. markets, mainly from the Services sector, though it also invests in Technology and Consumer Goods sectors. The fund has an equity portfolio worth $161 million. Its major investments besides Pacer International are in Tuesday Morning Corp (NASDAQ:TUES), in which it holds a $43.80 million stake, which contains 2.87 million shares. Another company in which Becker Drapkin Management has invested is Pixelworks Inc (NASDAQ:PXLW) with 2.83 million shares, worth $11.36 million at the end of the third quarter of 2013.

Pacer International Inc. (NASDAQ:PACR) is a global logistics service provider. The company has expertise in intermodal transportation as well as logistics operations. It also provide an range of logistics solutions, including global international freight forwarding and non-vessel-operating common carrier (NVOCC) services, warehousing and distribution, highway brokerage, and supply chain management services. The company is the largest provider of intermodal services between Mexico and the U.S. and for the 12 months ending November 2013, it had revenues of $1 billion.

Pacer International is being taken over by XPO Logistics (NYSE:XPO) according to the press release of the company. The transaction is expected to close in the second quarter of 2014. The shareholders of Pacer will get $6 in cash and $3 of XPO’s common share.

Apart from Becker Drapkin Management, other hedge funds having substantial holdings in the company include Ric Dillon managed Diamond Hill Capital with 1.24 million shares valued at $7.66 million at the end of the third quarter. Chuck Royce’s Royce & Associates also holds 852K shares worth $5.27 million at the end of the third quarter.

Disclosure: none

Recommended Reading:

Paul Singer’s Elliott Associates Offers to Acquire Riverbed Technology Inc. (RVBD)

Cannell Capital Further Reduces Position in Crumbs Bake Shop Inc (CRMB)

Odey Asset Management Owns 91.75 Mln Shares of LSE-listed KEFI Minerals plc (KEFI) Following Placement

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Reign of Terror: The 10 Most Ruthless Politicians in History

On the Move: The 10 Fastest Growing Businesses in 2015

Fast Money: The 10 Highest Paying Fast Food Restaurants

Mixing It Up: The 14 Best Music Mashups of 2014

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

Subscribe

Enter your email:

Delivered by FeedBurner

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!