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13D Filing: North Tide Capital and Tivity Health Inc. (NASDAQ:TVTY)

North Tide Capital, having more than doubled its original investment in Tivity Health Inc. (NASDAQ:TVTY) over the last 3.5 years, just sold nearly half of its position in the company. Here is their explanation:

“On March 1, 2017, the Reporting Persons sold 2 million Shares of the Issuer in a block sale with a broker transaction. The Reporting Persons have undertaken the sales reported in this Amendment No. 7 to the Schedule 13D in large part to effectuate a rebalancing of North Tide’s portfolio in light of the significant appreciation in the Issuer’s stock price over the past year. The Reporting Persons continue to own a meaningful position of approximately 2.5 million Shares of the Issuer. Conan Laughlin, founder and portfolio manager of North Tide, was elected to the Issuer’s (formerly Healthways, Inc.) Board of Directors (the “Board”) in June 2014. He remains actively engaged as a director and Chair of the Compensation Committee of the Board and intends to stand for re-election to the Board at the Issuer’s Annual Meeting to be held in May 2017.”

Conan Laughlin’s North Tide first disclosed a 3 million share activist position in the fitness and healthcare company at the end of October 2013 when the shares were hovering around $10. North Tide Capital is one of the 140 activist hedge funds tracked by Insider Monkey.

The details of this transaction can be seen below:

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
North Tide Capital Master 9,051 1,750,000 9,051 1,750,000 1,750,000 4.5%
NTC Special Opportunities I Master 250,000 250,000 250,000 Less than 1%
North Tide Capital 2,500,000 2,500,000 2,500,000 6.4%
Conan J. Laughlin 2,500,000 2,500,000 2,509,051 6.4%
Conan Laughlin
Conan Laughlin
North Tide Capital

Page 1 of 11 – SEC Filing

Washington, D.C. 20549
(Rule 13d-101)
§ 240.13d-2(a)
(Amendment No. 7)1
Tivity Health, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
(CUSIP Number)
1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)
March 1, 2017
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box x.
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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