Hal Mintz‘s Sabby Management and Glenn W. Welling‘s Engaged Capital reported changes to their stakes in Lpath, Inc. (NASDAQ:LPTN) and Oplink Communications, Inc (NASDAQ:OPLK) respectively. In a filing with the Securities and Exchange Commission, Sabby Management disclosed a new stake in Lpath, which contains around 1.92 million shares. In another filing, Engaged Capital announced the filing of preliminary proxy materials for the upcoming meeting of shareholders of Oplink and revealed that it has nominated two directors to be elected to the company’s board.
Engaged Capital owns around 863,500 shares of Oplink Communications, Inc (NASDAQ:OPLK), the stake being equal to 5.0% of the company’s outstanding common stock. In the press release attached to the filing, Glenn Welling, the principal and CIO of Engaged expressed his frustration with the Board refusing to respond to Engaged Capital’s previous proposals and letters and negotiate over important issues meant to increase the shareholder value of the company.
Among other investors in Oplink Communications, Inc (NASDAQ:OPLK) is John W. Rogers‘ Ariel Investments, which declared ownership of 1.17 million shares in its latest 13F filing, up by 9% on the quarter. Chuck Royce‘s Royce & Associates also disclosed holding shares of the company as of the end of June, its stake containing some 1.14 million shares, up by 2% on the quarter.
Sabby Management’s stake in Lpath, Inc. (NASDAQ:LPTN) amasses almost 10% of the company’s outstanding common stock. Among the hedge funds we track, Nathan Fischel’s Dafna Capital Management owns 105,000 shares of the company as of the end of June. Jim Simons’ Renaissance Technologies initiated a stake in Lpath, Inc. (NASDAQ:LPTN) during the second quarter and disclosed holding 23,200 shares in its latest 13F filing.