We just talked about underrated activist hedge funds in our Sessa Capital article. There is only one activist hedge fund that followed Sessa Capital into Ashford Hospitality Prime (AHP) and that’s Raging Capital. Sessa Capital returned more than 30% last year and Raging Capital returned 27%. Most hedge funds didn’t even return half of these numbers. Yet, investors really don’t care much about following these two hedge funds’ moves.
Today, we are going to report on Raging Capital‘s recent move. William Martin knows a thing or two about managing a financial website which is why he probably purchased a large stake in Thestreet Inc. (NASDAQ:TST) last year. By the way, Thestreet Inc. (NASDAQ:TST) is Insider Monkey’s competitor, but you don’t really need to know much about managing a financial news website to figure out that TST isn’t managed very well and that’s probably because it is in a very competitive industry.
Anyway, TST shares haven’t been doing very well and Raging Capital has been cutting its stake in recent weeks. The details of its recent sales can be seen below:
Ownership Summary Table
|Name || Sole Voting Power || Shared Voting Power || Sole Dispositive Power || Shared Dispositive Power || Aggregate Amount Owned Power || Percent of Class |
|Raging Capital Management || || 1,840,440 || || 1,840,440 || 1,840,440 || 5.2% |
|William C. Martin || || 1,840,440 || || 1,840,440 || 1,840,440 || 5.2% |
William C. MartinRaging Capital Management
Page 1 of 6 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
(Amendment No. 3)1
Common Stock, par value $0.01 per share
(Title of Class of Securities)
STEVE WOLOSKY, ESQ.
OLSHAN FROME WOLOSKY LLP
1325 Avenue of the Americas
New York, New York 10019
(Name, Address and Telephone Number of Person
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(Date of Event Which Requires Filing of This Statement)
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