Warren Lichtenstein’s Steel Partners Increases Stake In API Technologies Corp (ATNY)

Warren Lichtenstein, the manager of Steel Partners, is bullish on API Technologies Corp (NASDAQ:ATNY) and has increased his fund’s position  in the company. According to a recent filing with the Securities and Exchange Commission, Steel Partners has acquired 2,061 shares in one transaction at $2.5 apiece. As a result, the fund’s stake has been increased to 11.4 million shares. During the first quarter of 2014, Lichtenstein increased his fund’s holding of this stock by 573% to 9.62 million shares.

API Technologies

API Technologies Corp (NASDAQ:ATNY) can also be found in the portfolio of Israel Englander, the manager of Millennium Management. According to its latest 13F report, the fund holds about 251,600 shares worth $737,000. Kyle Bass is also keeping tabs with his fund, Hayman Advisors, holding 1.66 million shares valued at $4.88 million. Murray Stahl also holds a significant position with his fund, Horizon Asset Management, having reported ownership of 69,033 shares worth $202,000 in its latest 13F filing.

API Technologies Corp (NASDAQ:ATNY) engages in the development and manufacture of communications products. The company has a market cap of 139 million and does not pay a dividend. The stock is traded at a trailing Price to Earnings (P/E) ratio of 43.45 and also carries a forward P/E ratio of 15.06, which is a sign that market participants expect the company to improve its earnings potential in the near future. API Technologies reported revenues of 58.9 million and a loss per share of 0.04 for the quarter ending February 28, 2014.

Lichtenstein is also fond of Handy and Harman Ltd (NASDAQ:HNH), which is his fund’s largest position: 7.22 million shares valued at approximately $159 million. He has also made a big bet on Triangle Petroleum Corporation (NYSEMKT:TPLM), having initiated a new position during the first quarter of this year. According to its latest 13F report, Steel Partners holds approximately 831,900 shares valued at $6.85 million.

Disclosure: none.

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

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

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!