Insider Monkey wrote a short while ago about J. Daniel Plants‘ Voce Capital filing a definitive proxy statement on Fbr & Co. (NASDAQ:FBRC). The firm’s latest 13D filing with the SEC reveals that the fund has since gained significant support. Namely, three leading proxy advisory firms – Institutional Shareholder Services, Glass Lewis & Co., and Egan-Jones Ratings Company, have advised shareholders to back Voce Capital’s propositions to help create change in the managerial ranks of Fbr & Co. (NASDAQ:FBRC). Voce Capital, which is the third-largest shareholder of Fbr & Co. (NASDAQ:FBRC), owns 387,025 shares that amass 5.2% of the company’s outstanding shares.
FBR & Co. is an institutional brokerage and investment banking company that offers many investment-related services, including institutional brokerage and research, investments in merchant banking, securities lending services to institutional investors, capital raising, and financial advisory services. Over the past 12 months, the company’s shares have dropped by 14.01%. In its financial report for the first quarter of 2016, FBR & Co. disclosed a loss per share of $0.72, beating the estimates of a loss of $0.98 per share. Revenue came in at $17.9 million, missing estimates of $19.87 million.
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As per Insider Monkey’s database, FBR & Co (NASDAQ:FBRC) was in eight hedge funds’ portfolios at the end of March, among which the biggest position was reported by Voce Capital, worth close to $7 million, while the second-largest position was held by Matthew Hulsizer’s PEAK6 Capital Management, and was valued at $5.9 million. Other investors long the stock were D E Shaw, founded by David E. Shaw, J. Alan Reid, Jr.’s Forward Management, Jim Simons’ Renaissance Technologies, and Simon Sadler’s Segantii Capital.
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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 |
|---|---|---|---|---|---|---|
| Voce Capital Management | 387,025 | 387,025 | 387,025 | 5.2% | ||
| Voce Capital | 387,025 | 387,025 | 387,025 | 5.2% | ||
| J. Daniel Plants | 387,025 | 387,025 | 387,025 | 5.2% |
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Page 1 of 9 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT
TO
§ 240.13d -2(a)
(Amendment No. 11)*
| FBR & Co. |
| (Name of Issuer) |
| Common Stock, $0.001 par value per share |
| (Title of Class of Securities) |
| 30247C400 |
| (CUSIP Number) |
| MARK SHAMIA |
| VOCE CAPITAL MANAGEMENT LLC |
| 600 Montgomery Street, Suite 210 |
| San Francisco, California 94111 |
| (415) 489-2600 |
| (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
| June 6, 2016 |
| (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 Rule 13d-1(e), Rule 13d-1(f) or Rule
13d-1(g), check the following box. [ ]
