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UTStarcom Holdings Corp. Message Board

  • johnnydough2009 johnnydough2009 Feb 23, 2012 3:05 AM Flag

    Mystery buyer identified

    In January, Seeking Alpha claimed that 16.4M UTSI shares had been purchased by hedge funds during the 4th quarter.

    10M of those went to Artis Capital Management, a hedge fund from California.

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    • Thanks, Johnny. From your link:

      Artis, a registered investment adviser, serves as investment adviser to investment funds that directly hold the Common Stock for the benefit of the investors in those funds.  The investment funds have the right to receive dividends from, or the proceeds from the sale of, the Common Stock.
      Artis Capital Management, Inc. (“Artis Inc.”) is the general partner of Artis.  Stuart Peterson (“Mr. Peterson”) is the president of Artis Inc. and the controlling owner of Artis and Artis Inc.  By virtue of these relationships, Artis Inc. and Mr. Peterson may be deemed to beneficially own the Common Stock held by the funds; however, the filing of this statement shall not be construed as an admission that Artis Inc. or Mr. Peterson is the beneficial owner of the Common Stock held by the funds.>>

      My guess, Artis serves as proxy for company purchases. Sales (by Artis) to company, of course, reverses money flows and helps keep a lid on price.
      I estimate that the company may have accumulated another 6 million shares, since November; which puts them over 75% of their 20 million $ commitment!

2.64-0.0300(-1.12%)Dec 26 3:53 PMEST

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