{"id":35973,"date":"2023-07-15T05:06:34","date_gmt":"2023-07-15T09:06:34","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/mercury-systems-and-flushing-financial-stock-see-action-from-activist-investors\/"},"modified":"2023-07-15T05:06:35","modified_gmt":"2023-07-15T09:06:35","slug":"mercury-systems-and-flushing-financial-stock-see-action-from-activist-investors","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=35973","title":{"rendered":"Mercury Systems and Flushing Financial Stock See Action From Activist Investors"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"SB52671930801265634843404590087784246325658\">\n<p><em>These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity\u2019s attaining more than 5% in any class of a company\u2019s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from July 6 through July 12, 2023. Source: VerityData<\/em><\/p>\n<h2>Activist Holdings <\/h2>\n<p>\n        Mercury Systems<br \/>\n        (MRCY)<\/p>\n<p><strong>Jana Partners<\/strong> boosted its stake in the government and aerospace contractor to 4,655,249 shares. Jana purchased 3,303,841 Mercury Systems shares from June 23 through July 5 at prices ranging from $30.99 to $35.28 apiece, bringing its stake in the company to 8%. On July 6, Mercury Systems and Jana reached a voting agreement in which Jana managing partner Scott Ostfeld was appointed to Mercury\u2019s board. In return, Jana will vote its Mercury shares in favor of the firm\u2019s slate of directors. <\/p>\n<div class=\"paywall\">\n<p>The agreement also calls for Jana to support any amendments to Mercury Systems\u2019 stock incentive plan, unless either Institutional Shareholder Services or Glass Lewis &amp; Co. \u201crecommends otherwise with respect to such approval.\u201d In that case, Jana may vote in concert with ISS or Glass Lewis.<\/p>\n<h2>Increases in Holdings<\/h2>\n<p>\n        Flushing Financial<br \/>\n       (FFIC)<\/p>\n<p>Gamco Investors<br \/>\n       (GBL) lifted its position in the holding company for Uniondale, N.Y.\u2013based Flushing Bank to 2,033,363 shares. Gamco purchased a net of 119,099 Flushing Financial shares at prices ranging from $9.33 to $15.05 apiece from May 10 through July 7. Gamco now holds a 6.9% interest in Flushing Financial. For the year to date, shares have slid about 36%.<\/p>\n<h2>Decreases in Holdings <\/h2>\n<p>\n        Quotient Technology<br \/>\n       (QUOT)<\/p>\n<p><strong>Engaged Capital<\/strong> cut its position in the digital-advertising services company to 4,905,332 shares. Engaged Capital sold 3,201,718 Quotient Technology shares from June 13 through July 7 at per-share prices ranging from $3.80 to $3.90. Engaged Capital now owns 4.97% of Quotient\u2019s outstanding stock, below the 5% threshold that requires disclosure of any further Quotient stock sales. <\/p>\n<p>In late June, Quotient agreed to be acquired by Neptune Retail Solutions for $4 per share in cash, valuing Quotient at approximately $430 million. At the time of the deal\u2019s announcement, Engaged Capital entered into a cooperative agreement with Quotient to vote its shares in favor of the deal. Quotient stock has gained about 12% this year.<\/p>\n<p>Seadrill (SDRL)<\/p>\n<p><strong>Elliott Management<\/strong> sold 356,141 shares of the offshore drilling-rig operator, bringing its stake down to 7,057,258 Seadrill shares. Elliott sold Seadrill shares from May 15 through May 22 at prices ranging from $35.45 to $38.00 each. Elliott now holds 8.8% of Seadrill\u2019s outstanding stock. <\/p>\n<p>Elliott also disclosed that its Elliott Funds affiliate entered into cash-settled swap agreements with respect to 5,444,919 Seadrill shares. The swaps only provide Elliott the equivalent of the \u201ceconomic results of ownership\u201d in Seadrill\u2019s stock, not the actual shares. <\/p>\n<p>Shares have gained about 40% so far in 2023, and are up 80% in the past 12 months.<\/p>\n<p><strong>Email: <\/strong>editors@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/13d-mercury-systems-stock-activist-investor-50263a41?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity\u2019s attaining more than 5% in any class of a company\u2019s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from July 6 through July 12, 2023. Source: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":33117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-35973","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mercury Systems and Flushing Financial Stock See Action From Activist Investors | iFintechWorld<\/title>\n<meta name=\"description\" content=\"These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity\u2019s attaining more than 5% in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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