Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Mario Gabelli, GAMCO Nominate Candidates for Sevcon Inc (SEV)’s Board; Edge Up Stake in Biglari Holdings Inc (BH)

GAMCO Investors, managed by Mario Gabelli, went activist on Sevcon Inc (NASDAQ:SEV). According to letter sent to the company, and attached to a SEC filing, GAMCO informed it that Mr. Ryan J. Morris, Mr. Walter M. Schenker, and Mr. Glenn J. Angiolillo have been appointed as candidates to be nominated on Sevcon Inc (NASDAQ:SEV)’s board of directors.

Mario Gabelli with cereal box

The candidates nominated by GAMCO will be elected at the next shareholders meeting of Sevcon Inc (NASDAQ:SEV). At the same time, according to the filing, GAMCO currently owns 564,900 shares of Sevcon, down from 570,379 held at the end of September. The stake held by GAMCO amasses almost 16.3% of the company’s common stock. In aggregate, GAMCO, with other Mario Gabelli’s funds hold over 1.2 million shares of Sevcon Inc (NASDAQ:SEV), representing 35.4% of the common stock.

According to our database, GAMCO is the only fund out of those we track, which hold shares of Sevcon Inc (NASDAQ:SEV).

In a second filing, GAMCO revealed holding 100,422 shares of Biglari Holdings Inc (NYSE:BH). The fund’s position amasses 5.84% of the company’s common stock. Overall, Gabelli’s funds hold in aggregate almost 149,400 shares of Biglari Holdings Inc (NYSE:BH), which represent 8.68% of the common stock. The value of the total position amounts to $72 million, at the current stock price of the company. In its latest 13F, GAMCO disclosed owning some 100,700 shares of the company.

Aside from GAMCO, D E Shaw, managed by D. E. Shaw, revealed ownership of 13,100 shares of Biglari Holdings Inc (NYSE:BH), with a reported value of $5.4 million. D E Shaw’s stake surged by 76% during the third quarter. Aqr Capital Management, led by Cliff Asness, disclosed, in its latest 13F, holding a $4.0 million stake, which amasses some 9,600 shares.

Disclosure: none

Recommended Reading:

Healthcor Management Reduces Position in Allscripts Healthcare Solutions Inc (MDRX)

Jeff Smith, Starboard Value Add to Position in Office Depot Inc (ODP)

Zac Hirzel Gets Appointed to the Board of Hawaiian Holdings, Inc. (HA)

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!