Updated from 8:27 a.m. EDT
Most hedge funds are drastically underperforming the markets this year. In fact, since 2004, most hedge funds have actually underperformed the boarder markets, despite the huge bull market in stocks.
Since most hedge funds get paid based on their returns for the year, managers who do not want to underperform are turning to shareholder activism as a way to increase shareholder value and ultimately boost their returns.
, we track many of the
for those interested in piggybacking these funds. We highlight a few of those situations here.
increased its pressure on
, saying that "the company should live up to its agreement with the hedge fund to publicly disclose its plan to improve its operations and profitability." Lancaster Colony, which sells various food ideas, has an enterprise value-to-EBITDA ratio of 8.3 and a forward P/E of 13.5.
Barington Capital said that the firm intends to closely monitor the company's compliance with the terms of the agreement.
Barington Capital also has sizeable positions in
, which has a forward P/E of 24 and a 17% short interest. It also own plastics makers
, which has a forward P/E of 14 and an 8% short position.
Billionaire activist investor
entered into an agreement with
( GFG) under which the company will sell him about 1.06 million shares of its Series B convertible preferred stock for $55 million.
Icahn is also still waging war against
board to sell the company to
( MOT), and challenging
( MOT) to spin off the hands-free unit of the company. He also has positions in
Next on the list is
cut its stake in Applied Biosystems, from 5.1% to 3.5%, and has suggested a sale of the life-science company.
For more activist ideas, including
( MOT) and
( AMLN), please check out the
portfolio at Stockpickr.com, which we update daily with the latest situations recorded by the
Also, here are the latest activist filings from
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