Alexander Medina Seaver‘s Stadium Capital Management recently filed a Form 13D with the SEC, in which it reported Dominic P. DeMarco’s resignation from the Board of Big 5 Sporting Goods Corp (NASDAQ:BGFV), after almost five years in the position The fund and Mr. DeMarco are under the impression that major improvements in the management of the company and the structure of its Board have happened during that period of time, by cause of the Settlement Agreement. Therefore, Mr. DeMarco and Stadium Capital Management thought it unnecessary for Mr. DeMarco to continue serving on the Board. According to the Settlement Agreement, Stadium Capital Management owns the right to find a replacement for Mr. DeMarco.
The filing also revealed that Stadium Capital Management has slightly lowered its stake in Big 5 Sporting Goods as it currently owns 2.58 million shares, which amass 11.7% of the company’s outstanding stock. Previously, the fund’s stake consisted of 2.68 million shares, which represented 12.1% of the float, as per its latest 13D filing on the company on August 15.
Big 5 Sporting Goods is a company that retails different sporting goods, offering many sports accessories and products. Over the past 12 months, the company’s shares have increased by 21.55%. For the second quarter of its fiscal year 2016, the company reported earnings per share of $0.10 and revenue of $241.41 million, compared to earnings per share of $0.12 and revenue of $240.41 million for the same quarter a year earlier.
Out of the 749 hedge funds that we follow which filed 13Fs for the June quarter, ten were bullish on Big 5 Sporting Goods (NASDAQ:BGFV) at the end of June, down from 13 at the end of March. Some of the investors long the stock included Mario Gabelli’s GAMCO Investors, with a position valued at $3.86 million at the end of June, Jim Simons’ Renaissance Technologies, which held a position worth around $2.50 million, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Ken Griffin’s Citadel Investment Group. An investor that dumped Big 5 Sporting Goods (NASDAQ:BGFV) during the quarter was Neil Chriss’ Hutchin Hill Capital, which dumped a position which had been valued at $630,000 at the end of March.
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|
|Stadium Capital Management GP||0||2,580,295||0||2,580,295||2,580,295||11.7%|
|Stadium Capital Management||0||2,580,295||0||2,580,295||2,580,295||11.7%|
|Alexander M. Seaver||0||2,580,295||0||2,580,295||2,580,295||11.7%|
|Bradley R. Kent||0||2,580,295||0||2,580,295||2,580,295||11.7%|
|Stadium Capital Partners||0||2,348,125||0||2,348,125||2,348,125||10.7%|
|Stadium Capital Qualified Partners||0||232,170||0||232,170||232,170||1.1%|
Page 1 of 17 – SEC Filing
SECURITIES AND EXCHANGE
Washington, D.C. 20549
Under the Securities Exchange
Act of 1934
(Amendment No. 13)*
5 Sporting Goods Corporation
(Name of Issuer)
(Title of Class of Securities)
Stadium Capital Management,
199 Elm Street
New Canaan, CT 06840-5321
(Name, Address and Telephone Number of Person
|(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. ¨
Note: Schedules filed in paper format shall
include a signed original and five copies of the schedule, including all exhibits. See section 240.13d-7 for other parties to whom
copies are to be sent.
*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).
Potential persons who are to respond to the
collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control