Wynnefield Capital, managed by Nelson Obus, recently released its 13F filing, in which it revealed equity portfolio, worth around $217.1 million, for the second quarter of 2014. The portfolio contains a total of 26 positions. The fund increased holdings in more than five stocks. In this article, we will discuss top three bullish moves of the Wynnefield Capital in the second quarter.
The top bullish move of Wynnefield Capital was boosting stake in BlackBerry Ltd. (NASDAQ:BBRY) by over 60% to 1.50 million shares, worth $15.4 million. At the end of first quarter, the fund reported ownership of 900,000 shares of Ontario, Canada-based BlackBerry Ltd. (NASDAQ:BBRY), which operates in all over the world and has a market cap of $5.13 billion.
For 2015 fiscal first quarter ended May 31, 2014, BlackBerry Ltd. (NASDAQ:BBRY) reported revenue of $966 million, compared to $976 million in the previous quarter. It posted a GAAP net income of $23 million, or $0.04 earnings per share, for the first quarter, according to a press release.
Aside from Wynnefield Capital, Prem Watsa’s Fairfax Financial Holdings revealed owning 46.65 million shares of BlackBerry Ltd. (NASDAQ:BBRY) and David E. Shaw reported holding 4.49 million shares of the company.
The second bullish move was upping its holding in GlyEco Inc. (OTCMKTS:GLYE) by more than 30% to 4.48 million shares, with a reported value of about $3.1 million. Previously, the fund held 3.36 million shares of GlyEco Inc. (OTCMKTS:GLYE), a green chemistry company with a patent-pending technology for transforming a hazardous waste into green products.
In SMTC Corporation (USA) (NASDAQ:SMTX), the fund reported owning 1.02 million shares, worth $1.86 million. The stake represents an increase from 860,750 shares the fund held previously. Having a market cap of $29.9 million, SMTC Corporation (USA) (NASDAQ:SMTX) is a provider of electronics manufacturing services. For the second quarter of 2014, the company posted net income of $0.03 million, compared to a net loss of $1.1 million in the prior quarter.
Other largest shareholders of SMTC Corporation (USA) (NASDAQ:SMTX) include Mill Road Capital Management, led by Thomas E. Lynch, which holds 753,979 shares, and GRT Capital Partners, run by Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk, owns 127,994 shares of the company.