Famous Dave’s of America Inc (DAVE): Lioneye Capital Management Increases Activist Stake

Thanks to its latest acquisition of Common Stock, Lioneye Capital Management has become one of Famous Dave’s of America Inc (NASDAQ:DAVE)’s largest shareholders among institutional investors. The hedge fund certainly has reasons to be bullish on this stock, which grew by around 42% over the past year and is expected to keep the same pace. In addition, Mr. Raneri’s fund might influence the management, since the activist nature of the large stake allows it to make proposals regarding the company’s business.

In addition to Lioneye Capital Management, Famous Dave’s of America Inc (NASDAQ:DAVE) enjoys the backing of other institutional investors. Charles Davidson’s Wexford Capital for example disclosed a stake of 700,000 shares as at the end of the third quarter, representing 1.7% of its equity portfolio and making it the fund’s fourth largest holding. In the same sense, Brian Jackelow’s SAB Capital Management holds a position amounting to 689,800 shares, after increasing its exposure to Famous Dave’s by 9% during the third quarter. Even Jim Simons’ Renaissance Technologies continues to own around 300,000 shares of the stock in question, despite the 10% reduction in its stake disclosed in its latest 13F filing.

Disclosure: Pablo Erbar holds no position in any stocks or funds mentioned.