Alexander Seaver’s Stadium Capital Management has filed a Form 4 with the U.S. Securities and Exchange Commission on Big 5 Sporting Goods Corp. (NASDAQ:BGFV) revealing that the fund currently owns 2.64 million shares, which represent 11.89% of the company’s outstanding common stock. According to the public filing, Stadium Capital Management acquired 124,000 shares of the sporting goods retailer through three transactions at prices in the range between $10.81 and $10.99.
Stadium Capital Management is a privately owned hedge fund established by Alexander Medina Seaver in 1997. The Oregon-based fund employs a research-driven investing approach, while its investment principles deeply resemble the philosophies of Ben Graham and Warren Buffet. Stadium Capital Management is keen on uncovering compelling investment opportunities in the U.S. public equity markets, and has been successful thus far considering its investment track record. According to the fund’s most recent 13F filing with the SEC, Alexander Seaver and his experienced investment team currently manage a public equity portfolio worth $382.59 million.
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Big 5 Sporting Goods Corp. (NASDAQ:BGFV) is one of the top retailers of name brand sporting goods and accessories in the United States. The sporting goods retailer provides a wide product portfolio that includes athletic shoes, apparel and accessories, along with a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, among others. The shares of Big 5 Sporting Goods have dropped by over 25% since the beginning of the current year, partly owing to the significant slump in the company’s share price after announcing the financial results for the second quarter of this year on July 28.