During 1Q13 Jbf Capital was among a handful or so of institutions that zeroed out their investments in ENG. Two dozen other institutions reduced their combined holdings by about 1 percent. BUT, three new institutions bought shares resulting in an overall net increase of 42 percent. This included a 10 percent stake taken by the private equity firm NGPETP. Major holders had a net decrease of almost 4 percent if NGPETP's stake is excluded.
Volume-weighted average price (using average of daily hi and lo prices) during 1Q13 was 61 cents. Total volume during quarter was about 2.56 million shares, which is less than the 3.03 million shares added by the three new institutions??
I think Ken has owned Englobal for some time. That stake is not new. But, he is not selling which is more telling and i would not be surprised to see his group take out the entire company. What most don't realize is Englobal has a massive NOL (net operating loss carryforward) so there are a lot of plays here that would make sense. You might look at buying CLF (Cliff Resources) here as well.