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Moab Capital Partners Reports Passive Stake in Symmetry Medical Inc. (SMA): Indaba Capital Ups Position in Unwired Planet Inc (UPIP)

In two new filings with the U.S. Securities and Exchange Commission, Moab Capital Partners, managed by Michael M. Rothenberg and David Sackler, and Derek C. Schrier’s Indaba Capital Management disclosed their new moves. Moab Capital Partners revealed a new passive stake in Symmetry Medical Inc. (NYSE:SMA), while Indaba Capital reported boosting its position in Unwired Planet Inc (NASDAQ:UPIP).

Symmetry Medical Inc. (NYSE:SMA)

In its filing with the SEC, Moab Capital disclosed that it holds 2.88 million shares of the company’s common stock. The stake represents about 7.68% of the class. Symmetry Medical Inc. (NYSE:SMA) is a global source of innovative medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays. The company has a market cap of $376.3 million.

Ariel Investments, led by John W. Rogers, disclosed in its latest 13F that it holds more than 5 million shares of Symmetry Medical Inc. (NYSE:SMA). Royce & Associates, run by Chuck Royce, owns 323,800 shares of the company.

Moab Capital is headquartered in New York City, and is managed by Michael M. Rothenberg and David Sackler. The event-driven hedge fund was founded by the duo. At the end of the second quarter of 2014, the value of the fund’s equity portfolio totaled $208.4 million.

In another filing, Indaba Capital revealed that it upped its stake in Unwired Planet Inc (NASDAQ:UPIP) to 12.07 million shares, representing an increase from 11.07 million shares the fund reported in its previous filing. The stake is equal to 10.8% of the company’s common stock.

Unwired Planet Inc (NASDAQ:UPIP) is the inventor of the mobile internet and a premier intellectual property company focused exclusively on the mobile industry. It has a market cap of $213.5 million.

For the fiscal fourth quarter ended June 30, 2014, Unwired Planet Inc (NASDAQ:UPIP) reported revenue of $36.4 million and operating income from continuing operations of $25.0 million. The company’s revenue for the fiscal year ended June 30, 2014, was also $36.4 million, and operating income from continuing operations for the year totaled $3.4 million.

Derek C. Schrier founded San Francisco based Indaba Capital Management in 2010. The fund is an event-driven and opportunistic value investor that employs a mix of fundamental investment strategies.

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