At Insider Monkey, we closely monitor the moves made by activist investors. Their targets are often undervalued stocks with firm foundations that for one reason or another have failed to execute. At times, all it takes is a fresh outlook and a slight tweak to completely alter the makeup and efficiency of a company, and activists can provide this. They also shine a spotlight on shareholder value creation, which can be neglected by entrenched management who often have their priorities elsewhere. Below and on the following pages we have embedded the latest 13D activist filing related to Sevcon Inc (NASDAQ:SEV), which was recently submitted by Mario Gabelli‘s GAMCO Investors, which was the only shareholder of the stock in our database at the end of 2015. The filing shows that Gabelli’s funds have purchased about 15,000 Sevcon shares in several small transactions in 2016. Gabelli’s funds have economic exposure to 2.24 million shares of Sevcon representing 44.33% of the company’s shares, when accounting for the 810,000 shares that could be received through the Series A Convertible Preferred Stock owned by the funds.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|GAMCO Asset Management Inc.||956,400||988,690||988,690||19.59%|
|Teton Advisors, Inc.||750,543||750,543||750,543||14.87%|
|Gabelli Securities, Inc.||5,526||5,526||5,526||0.11%|
|GAMCO Investors, Inc.||0.00%|
|Associated Capital Group, Inc.||0.00%|
|Mario J. Gabelli||0.00%|