It was revealed in a newly-amended 13D filing with the US Securities and Exchange Commission that Jeffrey Smith‘s Starboard Value owns 1.81 million shares of Insperity Inc. (NYSE:NSP), which account for 8.5% of the company’s shares. This represents a decrease in the fund’s stake, as Starboard Value reported holding 2.27 million shares or 10.6% of the company’s float, in its previous 13D filing on the company, on May 25.
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Insperity (NYSE:NSP) is a company that provides a variety of business and human resources solutions, helping America’s business community grow and develop. For the 11th year in a row, Insperity was named one of the best companies to work for in Texas in April. Since the beginning of the year, the company’s stock has gained 50.88%. For the first quarter of 2016, Insperity (NYSE:NSP) reported earnings per share of $1.63 and revenue of $802.4 million, topping EPS estimates of $1.35 but slightly missing revenue expectations of $803.71 million. At the beginning of May, Robert W. Baird reiterated its ‘Buy’ rating on Insperity’s stock, while Roth Capital boosted its price target to $76.00 from $72.00, and also has a ‘Buy’ rating on it.
Among hedge funds tracked by Insider Monkey, Starboard Value reported the most valuable position in Insperity (NYSE:NSP) as of the end of March, worth around $172.6 million. The second-biggest position in the company was reported by Paul Marshall and Ian Wace’s Marshall Wace LLP, and was valued at $10.1 million. Some other investors that were bullish on this stock contain Michael R. Weisberg’s Crestwood Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Tim Curro’s Value Holdings LP.
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 |
|---|---|---|---|---|---|---|
| STARBOARD VALUE | 1,809,981 | 1,809,981 | 1,809,981 | 1,809,981 | 1,809,981 | 8.5% |
| STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD | 1,078,052 | 1,809,981 | 1,078,052 | 1,809,981 | 1,078,052 | 5.0% |
| STARBOARD VALUE AND OPPORTUNITY S | 241,343 | 1,809,981 | 241,343 | 1,809,981 | 241,343 | 1.1% |
| STARBOARD VALUE AND OPPORTUNITY C | 130,934 | 130,934 | 130,934 | Less than 1% | ||
| STARBOARD VALUE R | 130,934 | 130,934 | 130,934 | Less than 1% | ||
| STARBOARD VALUE R GP | 130,934 | 130,934 | 130,934 | Less than 1% | ||
| STARBOARD VALUE GP | 1,809,981 | 1,809,981 | 1,809,981 | 8.5% | ||
| STARBOARD PRINCIPAL CO | 1,809,981 | 1,809,981 | 1,809,981 | 8.5% | ||
| STARBOARD PRINCIPAL CO GP | 1,809,981 | 1,809,981 | 1,809,981 | 8.5% | ||
| JEFFREY C. SMITH | 1,945 | 1,945 | 1,809,981 | 8.5% | ||
| MARK R. MITCHELL | 1,809,981 | 8.5% | ||||
| PETER A. FELD | 1,811,926 | 8.5% |
Follow Jeffrey Smith's Starboard Value LP
Page 1 of 20 – SEC Filing
(Name, Address and Telephone Number of Person
