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 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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!