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VIRGINIA NATL BNK (VABK), Alimera Sciences Inc (ALIM), Advanced Photonix, Inc. (API): Hedge Funds Disclose Moves In Their Equity Portfolios

Tim Mullen and his fund, Swift Run Capital Management, have sent a presentation to the management of VIRGINIA NATL BNK (OTCMKTS:VABK), in which they have outlined potential opportunities to increase shareholder value. According to a recent filing with the Securities and Exchange Commission, Swift Run Capital holds approximately 241,700 shares, which account for 9% of the company’s common stock. Alimera Sciences Inc (NASDAQ:ALIM) still has room to grow or at leas that’s what Jeffrey Jay and David Kroin signal through their latest move. As reported in a recent filing with the SEC, their fund, Great Point Partners, has increased its holding of the stock by 53% to amass 2.46 million shares, which account for 6.11% of Alimera Sciences Inc (NASDAQ:ALIM)’s common stock. Bryant Riley, the manager of Riley Investment Management, has decided to reduce exposure to Advanced Photonix, Inc. (NYSEMKT:API), a manufacturer of optoelectronic devices. In a recent filing, Riley Investment has reported ownership of 1.85 million shares, down from 2.14 million shares reported in June. The fund’s current stake account for approximately 5% of the company’s total number of shares outstanding.

Alimera Sciences Inc (NASDAQ:ALIM)

Mullen believes VIRGINIA NATL BNK (OTCMKTS:VABK) should return excess capital to its shareholders either via increased dividends or through share buy-back programs. He also suggests the company should spin-off to its shareholders the rights to a contract between VIRGINIA NATL BNK (OTCMKTS:VABK) and Swift Run Capital Management. Among other suggestions are the further development of the wealth management division and other strategic alternatives.

William Leland Edwards, the manager of Palo Alto Investors, is also keeping an eye on Alimera Sciences Inc (NASDAQ:ALIM), with his fund holding 3.63 million shares reportedly worth in excess of $21.7 million. During the second quarter of 2014, Thomas Ellis and Todd Hammer have boosted their stake in the company by 21%. Their fund, North Run Capital, holds 1.95 million shares valued at $11.6 million as reported in its latest 13F filing. Samuel Isaly, the manager of Orbimed Advisors, is also keeping an eye on Alimera Sciences Inc (NASDAQ:ALIM) as his fund holds exactly 1.5 million shares worth roughly $8.97 million.

Jim Simons is invested in Advanced Photonix, Inc. (NYSEMKT:API) too and his fund, Renaissance Technologies, has increased its holding of the stock by 5% during the second quarter. It now holds 172,700 shares worth approximately $105,000. Gregory Fraser, Rudolph Kluiber and Timothy Krochuk are also keeping tabs, with their fund, GRT Capital Partners owning 114,500 shares valued at $70,000.

Disclosure: none.

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