In another 13D filing, Thomas E. Sandell’s Sandell Asset Management reported owning 1.31 million shares of Ethan Allen Interiors Inc. (NYSE:ETH), representing 4.6% of the company’s shares. Sandell Asset Manamgenet ceased to beneficially own more than 5% of the company’s common stock on January 11. As stated by Sandell’s latest filings on the company, the activist firm had ownership of over 1.5 million shares, or 5.5%, at the end of November. The recently-filed 13D also outlines that the asset management firm reduced its stake in Ethan Allen Interiors Inc. (NYSE:ETH) as part of an ordinary portfolio re-balancing process. It is widely known that Sandell Asset Management was engaged in a proxy contest with Ethan Allen which sought to elect six new nominees to the company’s Board of Directors during Ethan’s November 24 Annual Meeting. However, the firm ultimately failed to convince shareholders to vote for its slate of Directors and was defeated in the proxy battle.
The shares of the interior design company and manufacturer of home furnishings have declined by 24% since the middle of January 2015, but the company has been undergoing a transformation of its product offerings that might inject new dynamism into its financial and stock performance. The number of smart money investors in our system with positions in the company climbed to 17 from 13 during the third quarter. Royce & Associates, founded by Chuck Royce, cut its stake in Ethan Allen Interiors Inc. (NYSE:ETH) by 6% during the July-to-September period, to 2.89 million shares.
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As revealed by a Schedule 13G filing, HealthCor Management L.P., founded by Arthur Cohen and Joseph Healey, currently owns 1.20 million shares of Collegium Pharmaceutical Inc. (NASDAQ:COLL). This denotes an increase of 250,000 shares from the stake revealed through the fund’s 13F for the third quarter. The freshly-upped stake accounts for 5.12% of the company’s outstanding common stock. Earlier this month, the specialty pharmaceutical company conducted a secondary offering of 2.75 million shares of common stock at a price of $20.00 per share. Collegium Pharmaceutical Inc. (NASDAQ:COLL)’s lead product candidate, Xtampza, was granted a tentative approval last year that was subject to an automatic stay of up to 30 months due to a patent litigation filed by Purdue Pharma L.P. in March 2015. Ten smart money investors that we track had positions in the company at the end of the third quarter, stockpiling almost 27% of its shares. Peter Kolchinsky’s RA Capital Management LLC is the largest equity holder of Collegium Pharmaceutical Inc. (NASDAQ:COLL) among those, owning 1.55 million shares as of September 30.
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