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FBR & Co. (FBRC): Voce Capital Files a Definitive Proxy Statement

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Insider Monkey has reported recently about J. Daniel Plants Voce Capital  disappointment with the management of FBR & Co. (NASDAQ:FBRC) and its filing of a preliminary proxy requesting proxies to vote for its three nominees to the board, to vote against the non-binding advisory vote on named executive officer compensation and to approve the appointment of BDO USA, LLP as the FBR & Co.’s independent registered public accounting firm. And now, a newly-amended 13D filing with the US Securities and Exchange Commission has shown that Voce Capital has filed a definitive proxy statement in a Schedule 14A. Voce Capital, which owns 387,025 common shares that account for 5.2% of the total amount of the company’s outstanding stock, announced that it will continue to further actively follow actions made by the management and to propose new ideas with the objective to protect shareholders’ interests.

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FBR & Co. is an investment banking and institutional brokerage company that provides a plethora of investment services, such as capital raising and financial advisory, institutional brokerage and research, securities lending services to institutional investors, investments in merchant banking, to name a few. Year-to-date, FBR & Co.’s stock is down by 0.8%. For the first quarter of 2016, FBR & Co. reported a loss per share of $0.72, beating the estimates of a loss of $0.98 per share, and revenue of $17.9 million, versus estimates of $19.87 million. 

The number of hedge funds from our database supporting FBR & Co. (NASDAQ:FBRC) decreased to five during the fourth quarter, from six a quarter earlier. Voce Capital disclosed the most valuable position, followed by Chuck Royce’s Royce & Associates with a stake worth around $3.4 million. Other investors that were bullish on FBR & Co. (NASDAQ:FBRC) are D. E. Shaw’s D E Shaw, J. Alan Reid, Jr.’s Forward Management, and Paul Tudor Jones’s Tudor Investment Corp.

A hedge fund that lost interest in FBR & Co. and sold off its position is Israel Englander’s Millennium Management that dumped around $300,000 worth of shares between October and December.

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
Voce Capital Management 387,025 387,025 387,025 5.2%
Voce Capital 387,025 387,025 387,025 5.2%
J. Daniel Plants 387,025 387,025 387,025 5.2%

J. Daniel Plants
J. Daniel Plants
Voce Capital

Page 1 of 9 – SEC Filing


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549

SCHEDULE 13D

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT
TO 
§ 240.13d -2(a)
(Amendment No. 5)*

FBR & Co.
(Name of
Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

30247C400
(CUSIP Number)

MARK SHAMIA
VOCE CAPITAL MANAGEMENT LLC

600 Montgomery Street, Suite 210
San Francisco, California
94111
(415) 489-2600
(Name, Address and Telephone
Number of Person Authorized to Receive Notices and Communications)

May 6, 2016
(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 Rule 13d-1(e), Rule 13d-1(f) or Rule
13d-1(g), check the following box. [   ]

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