Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Prescott Group Capital Management Raises Position in Bluephoenix Solutions

Phil Frohlich‘s fund Prescott Group Capital Management disclosed, in a newly amended filing with the Securities and Exchange Commission, that it has recently upgraded its holding in Bluephoenix Solutions Ltd (NASDAQ:BPHX). Prescott owns above 3.3 million shares, which represent 29% of the company’s common stock. The position is activist by nature and has been raised from some 2.7 million shares reported by Prescott in the latest round of 13F filings. The value of the holding amounts to $14.3 million.


On Tuesday, Bluephonix Solutions revealed in a statement that it has completed the deal under the terms of which the company issued to Prescott’s affiliate Prescott Group Aggressive Small Cap Master Fund, ordinary shares worth $2.5 million.

Bluephonix is engaged in IT services related to automated database, application integration, and migration. At the beginning of October, the company announced about borrowing $1.0 million from Comerica Bank. The company will announce its results for the third quarter in the beginning of December. In the second quarter, the company posted a loss of $0.05 per share, which shows an improvement from $0.15 per share in the second quarter of last year.

Aside from Prescott, another hedge fund that holds shares of Bluephonix Solutions. Renaissance Technologies, led by Jim Simons disclosed holding 14,300 shares of the company, down by 1,800 shares of the quarter. The reported value of Renaissance’s holding amounts to $62,000.

Prescott Group Capital Management, led by Phil Frohlich is a hedge fund focused on small and mid-sized stocks of publicly traded companies. Amid the latest moves revealed by Prescott we can mention the fund’s discussion with management of PharmAthene, Inc. (NYSEMKT:PIP) regarding its merger, and a particular interest in China Marine Food Group Ltd (NYSEMKT:CMFO), in which Prescott has been buying shares for some time now.

Disclosure: none

Recommended Reading:

Stadium Capital Management Slices Position in Big 5 Sporting Goods Corporation

Edward Lampert, ESL Investments Sell Some Shares of AutoNation Again

Leon Cooperman Sells Some Shares of Resource America


DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.