If you look back to the initial 13D, you'll see that that Boston and Yorktown have always owned shares separately, but filed jointly.
As manager of VFA, which served as general manager to Boston and Yorktown, Gillman had sole voting and investment power of the Common Stock held by Boston and Yorktown. Not a share of GV was sold, even during the $5. run up. Now, according to Amendment #4, Heyman and Adelson are join managers of each of Boston and Yorktown and have the power
to vote the securities. Gillman is not a reporting person, but provides various consulting services to Boston and Yorktown in respect to Issuer's (GV) shares.
Just saying, GV's largest shareholder used to be a rock and now we don't know its intentions. rr
They filed a 13D Amendment No.4, July 12, 2013 splitting the entire lot of shares into two lots of about 7.27% and 4.66% of S/O, with different managers that Gillman.
The shares under 5% do not require a filing (not positive on this point), and I guess one could determine for which Lot the Form 4 was filed, although I have not studied that yet. Approx. holding was 3 million shares.
There could be many reasons to sell shares and I don't think its indicative of an issue with the company.
If one looks at the positions Gillman and Eberwein, both of whom are Wharton Alumni, they are deep value investors.
It doesn't concern me, other than the temporary price pressure.
We do not know if they're selling 50,000 shares or 3 million shares....
It would be a good time to see GV mgmt. step in and buy, particularly John Davis since he hasn't purchased a single share since his Form 3 filing Jan. 2013.
What happened to Charles Gillman and Value Fund advisers LLC,? The last purchase for Boston and Yorktown was January 18, 2008 and they have been holding ever since. Looks like the buy and hold is over. rr
It means that if the fund holding 10% of GV is distributing (selling) no one is going to chase it.
The big question is how many shares are they going to sell, and that's secret.
Yes, no doubt. There's always two sides to a trade. A large buyer judging by the size of the blocks....could be individual or hedge fund.....13-F season may shed some light.
I'd say it held up quite well with the 191k shares being sold. Possibly another institution on the other side looking to get in.
"an insider of Goldfield Corporation (The), appears to have filed an empty initial statement of beneficial ownership. This form is usually filed as a prelude to a company officer either receiving options or buying company shares, so there may be more to come"
"Partners Management, Ellbar, a major owner of Goldfield Corporation (The), recently disposed of 150,000 shares of the company. The disposals took place at prices ranging from $2.20 to $2.29 per share, on November 21, 2014. Ellbar still owns 2,616,858 shares of the company. Ellbar operates out of Tulsa, OK."