A newly-amended 13G filing with the Securities and Exchange Commission revealed that Glenn Greenberg‘s Brave Warrior Capital has lowered its stake in Cimpress N.V. (NASDAQ:CMPR) to 2.23 million common shares, which account for 7.1% of the company’s total outstanding stock. The fund previously held 3.94 million shares, according to its 13F filing for the reporting period of March 31.
Cimpress N.V. is a company that deals in the mass customization of physical products such as photo products, promotional products, and printed marketing materials, to name a few. The company operates three different business units – its Upload and Print Business Units, its Vistaprint Business Unit, and its division that encompasses All Other Business Units. Over the past 12 months, the company’s stock is up by 39.14%. In its latest financial report, for the fourth quarter of its fiscal year 2016, Cimpress N.V. (NASDAQ:CMPR) disclosed earnings per share of $0.51, below the estimates of $0.81, and revenue of $479.2 million, above the estimates of $465.7 million. Recently, Cantor Fitzgerald reiterated its rating on Cimpress’ stock, though changing the wording to ‘Hold’ from ‘Neutral’, while Axiom Securities lowered its price target on the stock to $80.00 from $84.00 and has a ‘Sell’ rating on it.
As per Insider Monkey’s hedge fund database, there were 12 smart money managers that we track which were bullish on Cimpress N.V. (NASDAQ:CMPR) at the end of March. Among them, the biggest position was held by Brave Warrior Capital, with the second-largest position having been reported by Allan Mecham and Ben Raybould’s Arlington Value Capital, valued at $197.2 million. Some other investors with similar optimism encompassed William von Mueffling’s Cantillon Capital Management, D E Shaw, founded by David E. Shaw, and Edward Goodnow’s Goodnow Investment Group.
During the first quarter, Joel Greenblatt’s Gotham Asset Management initiated the most valuable position in the stock out of the funds that we track, worth around $9.9 million, while Paul Tudor Jones’ Tudor Investment Corp established a $2 million position. The only other fund with a new position in the stock was George Hall’s Clinton Group.
Follow Cimpress Plc (NASDAQ:CMPR)
Follow Cimpress Plc (NASDAQ:CMPR)
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 |
|---|---|---|---|---|---|---|
| Brave Warrior Advisors | 2,233,496 | 0 | 2,233,496 | 0 | 2,233,496 | 7.1% |
Follow Glenn Greenberg's Brave Warrior Capital
Page 1 of 6 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, DC 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
| Cimpress N.V. |
| (Name of Issuer) |
| Common Stock |
| (Title of Class of Securities) |
| N20146101 |
| (CUSIP Number) |
| July 31, 2016 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the
rule pursuant to which this Schedule is filed:
x Rule
13d-1(b)
o Rule
13d-1(c)
o Rule
13d-1(d)
*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 in 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).
Page 2 of 6 – SEC Filing
| CUSIP No. N20146101 | SCHEDULE 13G/A | Page 2 of 6 Pages |
| 1 | NAME OF REPORTING PERSONS Brave Warrior Advisors, LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) o (b) o | | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, United States | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 2,233,496 | ||
| 6 | SHARED VOTING POWER 0 | |||
| 7 | SOLE DISPOSITIVE POWER 2,233,496 | |||
| 8 | SHARED DISPOSITIVE POWER 0 | |||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,233,496 | |||
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) | o | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.1% | |||
| 12 | TYPE OF REPORTING PERSON (See Instructions) IA | |||
Follow Cimpress Plc (NASDAQ:CMPR)
Follow Cimpress Plc (NASDAQ:CMPR)
Page 3 of 6 – SEC Filing
| CUSIP No. N20146101 | SCHEDULE 13G/A | Page 3 of 6 Pages |
| Item 1. | (a) Name of Issuer |
Cimpress N.V.
| (b) Address of Issuer’s Principal Executive Offices |
Hudsonweg 8
Venlo
5928 LW
The Netherlands
| Item 2. | (a) Name of Person Filing |
Brave Warrior Advisors, LLC
| (b) Address of Principal Business Office, or, if none, Residence |
12 East 49th Street
New York, New York 10017
| (c) Citizenship |
Delaware, United States
| (d) Title of Class of Securities |
Common Stock
| (e) CUSIP No.: |
N20146101
Follow Cimpress Plc (NASDAQ:CMPR)
Follow Cimpress Plc (NASDAQ:CMPR)
Page 4 of 6 – SEC Filing
| CUSIP No. N20146101 | SCHEDULE 13G/A | Page 4 of 6 Pages |
| Item 3. If |
| (a) | ¨ | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); | |
| (b) | ¨ | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); | |
| (c) | ¨ | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); | |
| (d) | ¨ | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); | |
| (e) | x | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); | |
| (f) | ¨ | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); | |
| (g) | ¨ | A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); | |
| (h) | ¨ | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
| (i) | ¨ | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | |
| (j) | ¨ | A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); | |
| (k) | ¨ | A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: | |
Follow Cimpress Plc (NASDAQ:CMPR)
Follow Cimpress Plc (NASDAQ:CMPR)
Page 5 of 6 – SEC Filing
| CUSIP No. N20146101 | SCHEDULE 13G/A | Page 5 of 6 Pages |
Item
4. Ownership
Provide the following information
regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
2,233,496
(b) Percent of class: 7.1%
(c) Number of shares as to which
the person has:
(i) Sole power to vote
or to direct the vote: 2,233,496
(ii) Shared power to vote
or to direct the vote: 0
(iii) Sole power to dispose
or to direct the disposition of: 2,233,496
(iv) Shared power to dispose
or to direct the disposition of: 0
Item
5. Ownership of Five Percent or Less of a Class
Not Applicable
Item
6. Ownership of More Than Five Percent on Behalf of Another Person
Not Applicable
Item
7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent
Holding Company or Control Person
Not Applicable
Item
8. Identification and Classification of Members of the Group
Not Applicable
Item
9. Notice of Dissolution of Group
Not Applicable
Item
10. Certification
By
signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held
in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant
in any transaction having that purpose or effect.
Follow Cimpress Plc (NASDAQ:CMPR)
Follow Cimpress Plc (NASDAQ:CMPR)
Page 6 of 6 – SEC Filing
| CUSIP No. N20146101 | SCHEDULE 13G/A | Page 6 of 6 Pages |
SIGNATURE
After reasonable inquiry
and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: August 10, 2016
| Brave Warrior Advisors, LLC | |||
| By: | Donna Martel-Downing | ||
| Name: | Donna Martel-Downing | ||
| Title: | Chief Compliance Officer | ||
