Stadium Capital filed 13D on October 25th for its 15.3% activist stake in Big 5 Sporting Goods Corp (BGFV). Stadium Capital is BGFV’s large insider and stakeholder, and the firm now owns 3,375,231 BGFV shares, slightly more than its 3,369,383 million shares position in the second quarter. BGFV is in service sector. It stuck in a downtrend for most of the time in 2011. In October, BGFV passed its 2-year low and began to rally. Now BGFV is priced at $7.83.
In the second quarter five hedge funds had BGFV in their positions. Beside Stadium Capital, Michael Price’s MFP Investors had 261 thousand shares, and Jim Simons’ Renaissance Technologies had 35 thousand shares.
Stadium Capital is a small hedge fund with a long and successful investment track record. The firm has $400 million under management, and has a stable and experienced investment team as well as an extraordinary group of investors. Its investment principles have roots in the philosophies of Ben Graham and Warren Buffett, as well as the firm’s team members’ many years investing in the private and public equity arenas. The firm has a team of eight investment professionals with offices in Oregon and Connecticut.
Big 5 Sporting Goods Corporation engages in the sales of athletic shoes, apparel, accessories, and outdoor and athletic equipment. The company through its subsidiaries sells private label merchandise under its owned labels, including Court Casuals, Golden Bear, Harsh, Pacifica, Rugged Exposure, and Triple Nickel. It also markets some licensed trademarks. The company was founded in 1955 and is headquartered in El Segundo, California.