Updated from 7 a.m. EST
Despite the downturn in the economy and start market, activist investors are still making their market on what they consider to be undervalued assets. Here at Stockpickr.com, we track many of the latest activist situations for those interested in piggybacking these investors.
For example, Steel Partners, a $2 billion activist hedge fund based in San Francisco, now owns a 18.1% stake in Adaptec (ADPT), a computer-based systems company that manages and protects client's data and digital content.
Adaptec has a market cap of $371.75 million, yet its cash on the balance sheet is $457 million with $87 million in debt. In total, Adaptec has $3.749 in cash per share, even though its stock closed on Tuesday at just $2.95 per share.To read more, visit Stockpickr.com.
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