Himanshu H. Shah’s Shah Capital Management Reported reduced Interest in UTStarcom Holdings Corp (NASDAQ:UTSI)
Shah Capital Management filed with SEC a SC 13D/A form about Utstarcom Holdings Corp. The form can be accessed here: 000119312515400872. As reported by Himanshu H. Shah’s Shah Capital Management, the filler decreased its stake in the stock by -88.51% for 5,649,369 shares. Himanshu H. Shah’s Shah Capital Management currently owns 15.2% of the Information Technology- stock. This ownership filing was filed because activity on December 4, 2015.
The hedge fund with about $220.22 million looks more negative after reporting such a decrease of its Utstarcom Holdings Corp ownership.
The hedge fund is active investor in the Finance sector. In the manager’s latest 13-F, we saw a few other positions. Its 25% of Himanshu H. Shah’s Shah Capital Management’s US portfolio.
Reasons Why Himanshu H. Shah’s Shah Capital Management Holds UTStarcom Holdings Corp (NASDAQ:UTSI)
Item4. Purpose of Transaction
The information set forth in Item6 is incorporated herein by reference.
Utstarcom Holdings Corp Institutional Sentiment
Latest Security and Exchange filings show 22 investors own Utstarcom Holdings Corp. The institutional ownership in Q3 2015 is low, at 3.50% of the outstanding shares. This is decreased by 534417 the total institutional shares. 1334089 were the shares owned by these institutional investors. In total 5 funds opened new Utstarcom Holdings Corp stakes, 2 increased stakes. There were 6 that closed positions and 4 reduced them.
Thomas Lenox Kempner Davidson D A & Company is an institutional investor bullish on Utstarcom Holdings Corp, owning 566 shares as of Q3 2015 for less than 0.01% of its portfolio. Pinnacle Summer Investments Inc owns 166 shares or less than 0.01% of its portfolio. CA Brandes Investment Partners Lp have less than 0.01% of their stock portfolio for 42789 shares. Further, Tower Research Capital Llc Trc reported stake worth 0.01% of its US stock portfolio. The PA Schneider Capital Management Corp owns 469008 shares. Utstarcom Holdings Corp is 0.24% of the manager’s US portfolio.
Business Profile
UTStarcom Holdings Corp. is engaged in providing broadband products, solution and services. The Company is a global telecom infrastructure provider, which is focused on delivering broadband transport and access (both Wi-Fi and fixed line) products and solutions, optimized for mobile backhaul, metro aggregation, broadband access and Wi-Fi data offloading. Its segments include Equipment and Services. The broadband product lines include family of packet transport network (PTN) products based on multi-protocol label switch transport profile (MPLS-TP) and carrier Ethernet (CE) technologies through in-house software-defined networking (SDN) platform to support the network evolution, and multi services access network (MSAN) platform. Wireless broadband access is represented by carrier Wi-Fi solution.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Himanshu H. Shah’s Shah Capital Management website.
The institutional sentiment decreased to 0.7 in 2015 Q3. Its down 0.80, from 1.5 in 2015Q2. The ratio turned negative, as 6 funds sold all UTStarcom Holdings Corp shares owned while 4 reduced positions. 5 funds bought stakes while 2 increased positions. They now own 1.33 million shares or 29.34% less from 1.89 million shares in 2015Q2.
Schneider Capital Management Corp holds 0.24% of its portfolio in UTStarcom Holdings Corp for 469,008 shares. Tower Research Capital Llc (Trc) owns 35,419 shares or 0.01% of their US portfolio. Moreover, American International Group Inc has 0% invested in the company for 21 shares. The North Carolina-based Bank Of America Corp De has invested 0% in the stock. Barclays Plc, a United Kingdom-based fund reported 5,846 shares.
The stock decreased 3.15% or $0.07 on December 10, hitting $2.15. UTStarcom Holdings Corp (NASDAQ:UTSI) has risen 16.22% since May 8, 2015 and is uptrending. It has outperformed by 19.23% the S&P500.
According to Zacks Investment Research, “UTStarcom Holdings Corp. is engaged in providing interactive Protocol based network solutions. The Company also provides integration and support services in Internet Protocol TV, Interactive TV, Internet TV and Broadband for cable and telecom operators. It designs and sells IP-based telecommunications infrastructure products including its primary product suite of IPTV, and broadband solutions along with the services relating to the installation, operation and maintenance of these products. UTStarcom Holdings Corp., formerly known as UTStarcom, Inc., is headquartered in Beijing, China.” Get a free copy of the Zacks research report on UTStarcom Holdings Corp (UTSI).
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