Raging Capital Filed 10.6% Activist Stake in $REXI

Raging Capital filed on November 4th for its 10.6% activist stake in Resource America, Inc. (REXI). According to the 13D filing, Raging Capital now has 2.06 million shares in REXI, but the firm’s position in the second quarter is unclear since its 13F filing is not available. Raging Capital made the filing because it delivered a letter to the management of Resource America regarding to the election of the Board of Directors in 2012 annual meeting of stockholders. REXI is now trading at $4.79, representing a loss of 29% in 2011.

Three hedge funds in our tracking list were bullish about the stock in the second quarter. Whitney Tilson’s T2 Partners had 1.08 million shares; David E. Shaw’s D E Shaw had 107 thousand shares; Jim Simons’ Renaissance Technologies had 18 thousand shares.

T2 PARTNERS

Raging Capital Management is a small-to-mid-cap public equity focused hedge fund. The firm was founded by William C. Martin in 2006 in Princeton, NJ. Mr. Martin now serves as the Chairman and Chief Investment Officer in the firm.

Resource America, Inc. is an asset management company. The company operates in Financial Fund Management segment, Real Estate segment, and Equipment Finance segment. The company evaluates, originates, services and manages investment opportunities through its three subsidiaries. The company was founded in 1966 and is based in Philadelphia, Pennsylvania.

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