Shah Capital Management Buys Additional Shares In UTStarcom Holdings Corp (UTSI); P2 Capital Partners Raises Exposure to UTi Worldwide Inc. (UTIW)

Shah Capital Management, managed by Himanshu H. Shah, has reported increasing its stake in UTStarcom Holdings Corp (NASDAQ:UTSI). Mr. Shah has acquired some 34,900 common stock shares of the company at $2.56 apiece, according to the filing.

UTStarcom Holdings Corp (NASDAQ:UTSI)

Recently, Shah Capital disclosed upping its position in UTStarcom Holdings Corp (NASDAQ:UTSI) to 9.85 million ordinary shares, amounting to a 25.99% stake, from the previously held 7.85 million.

UTStarcom Holdings Corp (NASDAQ:UTSI) is a global provider of IP-based, and Broadband Network Solutions for Telecommunications operators. Other significant shareholders of UTStarcom Holdings Corp (NASDAQ:UTSI) include Phil Frohlich’s Prescott Group Capital Management and Chuck Royce’s Royce & Associates, owning around 2.31 million and 910,000 shares, respectively.

In a separate filing, Claus Moller’s P2 Capital Partners has revealed raising its stake in UTi Worldwide Inc. (NASDAQ:UTIW). The fund has acquired 175,000 7.00% Convertible Preference Shares that can be converted into ordinary shares. In an earlier filing, P2 Capital disclosed holding over 11.27 million shares, the stake amassing 10.8% of the common stock.

UTi Worldwide Inc. (NASDAQ:UTIW) is an international, non-asset-based supply chain services and solutions company providing air and ocean freight forwarding, contract logistics, customs brokerage, distribution, inbound logistics, truckload brokerage, and other supply chain management services. On March 4, the company announced that it completed both of its private offerings, which consisted of $350 million of 4.50% convertible senior notes due 2019 and $175 million worth of 7.00% convertible preference shares. The company also granted the initial purchasers in the notes offering an option to purchase up to an additional $50 million of the notes, which have been exercised in full, increasing the aggregate principal amount of the notes to $400 million.

The largest shareholders of UTi Worldwide Inc. (NASDAQ:UTIW) include Joel Ramin’s 12 West Capital Management, in which the fund held 5.03 million shares at the end of the fourth quarter of 2013. Another investor Ken Brodkowitz and Mike Vermut’s Newland Capital owned 119,343 shares.

P2 Capital Partners focuses on smaller cap public companies and uses a private equity-like approach to identify and value potential investment opportunities. The largest holdings in the fund’s equity portfolio include Blount International Inc (NYSE:BLT), in which the fund disclosed owning 7.37 million shares, worth about $106.7 million, at the end of 2013. It is followed by ACI Worldwide Inc (NASDAQ:ACIW), in which the fund held a $84.2 million stake, containing around 1.30 million shares.

Disclosure: none

Recommended Reading:

Shah Capital Top Picks: China Yuchai Intl Ltd. (CYD), Utstarcom Holdings Corp. (UTSI) & Others

Hedge Funds Call on Telephone & Data Systems Inc. (TDS)

Veeva Systems Inc (VEEV): An IPO Loved by Hedge Funds

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

The 10 Biggest Tax Havens in the World to Stash Your Money

The 15 Most Murderous Countries in the World

10 Largest Colleges in the World: Bigger Isn’t Always Better

Comedians in Cars Getting Coffee: The 6 Comedians Seinfeld Needs to Interview

Easy Money: The 10 Most Successful Investors in the World Today

The 10 Most Deadly Diseases in the World Today

The 5 Most Expensive Luxury Motorhomes in the World

20 Largest Stock Exchanges in the World

6 Richest Painters In The World 2014

Subscribe

Enter your email:

Delivered by FeedBurner

X

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!