Heartland Advisors Edges Up Its Holding in Hudson Global Inc (HSON)

A new filing with the Securities and Exchange Commission showed that Heartland Advisors slightly upped its exposure to Hudson Global Inc (NASDAQ:HSON). Heartland disclosed holding more than 4.63 million shares, up from 4.59 million reported in its latest 13F. Currently, Heartland owns 13.9% of Hudson Global’s common stock. The value of the position amounts to over $15.7 million, at the current stock price of the company.

Hudson Global

Since Heartland’s position is activist by nature, it is clear that the investor will try to get involved in the management of the company. According to the filing, Heartland Advisors together with Mark D. Stolper, Alfred John Knapp, Jr., VI Capital Fund, LP and Affiliated Individuals and some other shareholders of Hudson Global Inc (NASDAQ:HSON) signed an agreement to form a group in order to pursue changes in the corporate management of the company.

Aside from Heartland, a significant position in Hudson Global Inc (NASDAQ:HSON) is being held by Dan Friedberg’s Sagard Capital Partners Management Corp, which in its latest 13F reported a $15.1 million stake that amasses 4.7 million shares. Royce & Associates, managed by Chuck Royce disclosed a smaller amount of shares  – 868,900, with a reported value of $2.8 million. Thomas E. Lynch’s Mill Road Capital Management, has slightly increased its position in Hudson Global, reporting about 283,100 shares, worth $917,000.

Hudson Global Inc (NASDAQ:HSON) delivered revenue worth $163.6 million in the third quarter of 2013, which is down by an annual 12.9%. The company also expanded its net loss to $5.0 million, equal to $0.15 per share, from $2.2 million, equal to $0.07 per share in the same period of last year. The stock of Hudson Global has been down by over 24% since the beginning of the year.

Around a month ago, Heartland reported decreasing its stake in Albany International Corp. (NYSE:AIN) to around 1.3 million shares, from 1.4 million shares held at the end of September. It has also slightly raised its holding in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) to 1.45 million shares, from 1.42 million shares.

Disclosure: none

Recommended Reading:

Daniel Och, Och-Ziff Capital Management Initiate Passive Stake in 500 Com Ltd. (WBAI)

Becker Drapkin Management Reports Surging its Position in Comverse Inc (CNSI) to 6.1%

Orbimed Advisors Discloses 33.5% stake in Relypsa Inc (RLYP)