Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Baker Street Capital Closes Entire Unilens Stake in Buyback

Baker Street Capital, Unilens Vision: In an amended 13D filed moments ago with the SEC, activist Baker Street Capital reported that it has closed its position in Unilens Vision (OTC:UVIC). The contract lens maker reported last week that it was initiating a stock buyback worth 26% of its company. Baker Street’s stake represented a little over $3 million in the micro-cap.

SC_unilens_logo

In a statement, Unilens Vision disclosed that it has repurchased 618,522 shares from Baker Street Capital, which was the largest outside shareholder of the company. The price offered in the buyback was $4.97 per share. At the same time, Unilens stated that one of the directors of the company Vadim Perelman resigned. Perelman was a founder, managing partner and Chief Investment Officer at Baker Street.

Unilens posted a net income of $128,960 in the previous quarter, which shows a 46% decline on a year-over-year basis. Diluted EPS of the company fell to $0.05, versus $0.10 in the same period of last year.

Disclosure: none

Recommended Reading:

BlueMountain Increases Activist Stake in Eastman Kodak to 20% of Company

Why Investing Like This Activist Could Make You Look Smart

How to Play Merger Arbitrage Cliff Asness Style

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.