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Hudson Global Inc. (HSON): Sagard Capital Sells Stock Back to Company

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A newly-amended 13D filing with the SEC showed that Dan Friedberg‘s Sagard Capital Partners Management Corp has signed a Securities Purchase Agreement with Hudson Global Inc. (NASDAQ:HSON), upon which, the fund granted to sell 1.1 million shares to the company, for a price of $1.80 per share, or for $1.98 million in total. After this transaction, the fund’s stake consists of 3.19 million common shares, which represent 9.5% of the company’s outstanding stock. Pursuant to this agreement, Sagard Capital Partners Management Corp has no right to sell or otherwise transfer the rest of its share for the next two months, subject to some exceptions.

Hudson Global is a talent solutions company that provides professional services in recruitment, talent management, and recruitment process outsourcing across the world. Year-to-date, the company’s stock is down by 41.03%. For the second quarter of 2016, Hudson Global reported a loss per share of $0.1 and revenue of $113.07 million, compared to EPS of $0.38 and revenue of $122.74 million for the same period in the previous year. Not that long ago, BMO Capital Markets lowered its price target to $2.50 from $3, with ‘Outperform’ rating on the stock.

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The number of investors from our database long Hudson Global (NASDAQ:HSON) increased by one during the second quarter and there were five smart money managers bullish on this stock at the end of June. The biggest investor in the company during the quarter was Sagard Capital Partners Management Corp, followed by J. Carlo Cannell’s Cannell Capital, which reported a stake valued at $3.25 million. Remaining investors included Jim Simons’ Renaissance Technologies and Ken Griffin’s Citadel Investment Group.

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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
Sagard Capital Partners 0 3,191,584 0 3,191,584 3,191,584 9.5%
Sagard Capital Partners GP, Inc 0 3,191,584 0 3,191,584 3,191,584 9.5%
Sagard Capital Partners Management Corp 0 3,191,584 0 3,191,584 3,191,584 9.5%

Page 1 of 17 – SEC Filing

 

 

UNITED STATES

 

 

SECURITIES AND EXCHANGE COMMISSION

 

 

Washington, D.C. 20549

 

 

 

 

 

SCHEDULE 13D

 

 

Under the Securities Exchange Act of 1934
(Amendment No. 9)*

 

Hudson Global, Inc.

(Name of Issuer)

 

Common Stock, $0.001 par value

(Title Class of Securities)

 

443787106

(CUSIP Number)

 

Samuel Robinson

Sagard Capital Partners, L.P.

325 Greenwich Avenue

Greenwich, CT 06830

(203) 629-6700

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

September 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), 13d-1(f) or 13d-1(g), check the following box o.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 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).

 


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