Latest Activist 13D and 13G Filings

Every investor that acquires 5% of a company is required to file a beneficial ownership filing, which is either a Form 13D or Form 13G, within ten (10) days of the event. If the investor intends to influence management, then they are considered an activist investor and must file a 13D. There is evidence that suggests investing alongside activist investors is a stock market investing strategy that can produce excess returns. This free screener shows all of the required Schedule 13D filings made by activist investors.

Stock Screens

Stock screens allow users to filter the companies listed on the stock market by various attributse, in order to screen out those that are undesirable. Stock screens on Fintel are made from a rich formula language that allows the utmost flexibility.

The fundamental task in investing is finding mispricings in price v. quality. There are a lot of cheap companies in the market, but most of them are cheap for very good reasons. The trick is finding companies that are cheap but actually healthy. In 2000, Joseph Piotroski wrote a paper in which he described a mathematical model that turned data from financial reports into a simple 9-point score that described a company’s health. He showed that this score, combined with a valuation metric (he used Book-To-Market), could be used successfully to produce excess returns in an investing strategy. This stock screener finds all companies with a score greater than six (which we call “healthy enough”). In his work, he suggested taking a list like this and buying the cheapest of that list. Note that many people believe, incorrectly, that buying companies with the best score is the proper approach, but they end up overpaying for quality. Remember, the goal is to find mispricings in price and quality, not overpay for high quality.  
The Net Current Asset Value (NCAV) is a conservative valuation metric popularized by Benjamin Graham. To calculate it, simply subtract the total liabilities from a company’s current assets. To calculate NCAVPS (Net Current Asset Value Per Share), divide the NCAV by the number outstanding shares. This stock screener takes Ben Graham’s more conservative approach and uses ⅔ of the NCAV.  
Walter J. Schloss (August 28, 1916 – February 19, 2012) was an American investor, fund manager, and philanthropist. He was a well-regarded value investor, as well as a notable disciple of the Benjamin Graham school of investing.  
This screen searches for small cap issues with a low likelihood of bankruptcy.  
The Magic Formula screen essentially ranks nano cap stocks on two metrics: low relative cost ("cheap") and high returns on capital ("quality" or "good").  
Companies with negative enterprise value generally get this way because they have a lot of cash. (Cash is subtracted when calculating EV). There is some evidence that negative enterprise value companies outperform the market, so companies matching this screen might be undervalued.  
Finds all companies with an activist investor filing in the last year  
This is Benjamin Graham's Net Net Working Capital Screen  
Walter J. Schloss (August 28, 1916 – February 19, 2012) was an American investor, fund manager, and philanthropist. He was a well-regarded value investor, as well as a notable disciple of the Benjamin Graham school of investing.  
This stock screen finds microcap companies with positive annual revenue.  
Companies with Return on Invested Capital (ROIC) > 15%  
The Enterprise Multiple is a metric used in valuation, equal to Enterprise Value divided by Operating Income. As it accounts for debt, the Enterprise Multiple analyzes a firm from the perspective of a would-be acquirer.  
Stocks with a high Earnings Yield.  
Stocks with an Earnings (diluted) Yield greater than 10%.  
This screen searches for potentially valuable issues with a low likelihood of bankruptcy.  
The Enterprise Multiple is a metric used in valuation, equal to Enterprise Value divided by Operating Income. As it accounts for debt, the Enterprise Multiple analyzes a firm from the perspective of a would-be acquirer.  
The Magic Formula screen essentially ranks small cap stocks on two metrics: low relative cost ("cheap") and high returns on capital ("quality" or "good").  
Microcap Value Dump  
For investors desiring income over capital appreciation, companies that pay dividends regularly are a great way to generate a steady cash flow. As in any purchase, the goal is to get most value for your dollar, and with dividends, a key metric is dividend yield. The dividend yield is the annual dividend paid divided by the current share price. Higher yields are better. This stock screen finds all securities with a dividend yield greater than 4%.  
The Magic Formula screen essentially ranks stocks on two metrics: low relative cost ("cheap") and high returns on capital ("quality" or "good").  
The Enterprise Multiple is a metric used in valuation, equal to Enterprise Value divided by Operating Income. As it accounts for debt, the Enterprise Multiple analyzes a firm from the perspective of a would-be acquirer.  
A multi-factorial approach to the identification of value.  
The acquirer's multiple takes into account a company's debt and cash levels in addition to its stock price and relates that value to the firm's cash profitability.  
The Enterprise Multiple is a metric used in valuation, equal to Enterprise Value divided by Operating Income. As it accounts for debt, the Enterprise Multiple analyzes a firm from the perspective of a would-be acquirer.