Becker Drapkin Management Further Reduces Holding in Pacer International, Inc. (PACR) to Under 2%

A new filing showed that Matthew Drapkin and Steven R. Becker‘s Becker Drapkin Management has sliced its exposure to Pacer International, Inc. (NASDAQ:PACRto 1.8% of the common stock, from over 6% held previously. In this way, the position held by Becker Drapkin contains almost 746,800 shares, versus 2.16 million shares revealed earlier. This is already the second reduction, the fund holding 3.12 million shares of the company at the end of last year.

Pacer International, Inc. (NASDAQ:PACR)

Becker Drapkin’s latest move regarding Pacer International, Inc. (NASDAQ:PACR) comes following the announcement that the majority of Pacer’s shareholder voted in favor of the merger, under the terms of which, Pacer will be acquired by XPO Logistics Inc (NYSE:XPO).

The share price of Pacer International, Inc. (NASDAQ:PACR) advanced by over 8% since the beginning of the year, and currently trades at around $8.9, which is slightly below its 52-week high of $9.2. Moreover, the stock trails a P/E of 39.xx, which is above the railroad industry average of 19.xx. For the previous year, Pacer International reported an EPS of $0.26, above the 2012 result of $0.14, but below the consensus estimate of $0.29. For the current year, Pacer is expected to increase its net income to $0.42 per share.

Last month, another hedge fund, Glazer Capital, managed by Paul Glazer, reported initiating a stake in Pacer International, which contains 2.7 million shares, equal to 7% of the stock. Peter Schliemann‘s Rutabaga Capital Management and Ric Dillon‘s Diamond Hill Capital also held shares of Pacer International, Inc. (NASDAQ:PACR), according to the latest round of 13F filings. Rutagaba held a total of 1.74 million shares, worth $14.36 million, while Diamond Hill’s position contained 1.25 million shares, valued at $10.33 million.

Last month, Becker Drapkin also cut its stake in Pixelworks, Inc. (NASDAQ:PXLW) to 292,800 shares, from around 2.2 million shares. Moreover, the fund’s representatives on the company’s board resigned resigned from their positions. On the other hand, the fund has been bullish on Cascade Microtech, Inc. (NASDAQ:CSCD) and has recently upped its stake to 1.18 million shares, equal to 7.3% of the outstanding stock.

Disclosure: none

Recommended Reading:

Matthew Drapkin Is Appointed to the Board of Comverse Inc (CNSI)

Becker Drapkin Ups Stake in Nano-Cap Special Diversified Opportunities Inc (SDOI)

Becker Drapkin Management Ups Position in EMCORE Corporation (EMKR) Even Higher

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

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!