According to a new 13D filing with the US Securities and Exchange Commission, Joe Huber‘s Huber Capital Management has increased its stake in Iconix Brand Group Inc. (NASDAQ:ICON) to almost 7.10 million shares, which account for 12.64% of the company’s outstanding stock. Previously, the fund had disclosed holding 5.73 million shares in its last 13F filing (for the end of June). The new filing also revealed that this acquisition was solely for the investment purposes and that the fund holds its right to create new plans and proposals regarding the company’s management and its investment.
Iconix Brand Group is a brand management company with a portfolio of more than 35 consumer brands, operating in five sectors: home, entertainment, men’s, women’s, and corporate. Year-to-date, the company’s stock is up by 17.86%. For the second quarter of 2016, Iconix Brand Group (NASDAQ:ICON) reported earnings per share of $0.27 and revenue $95.74, above the estimates of $0.23 in EPS and revenue of $95.22 million.
Among the funds in our database, Iconix Brand Group (NASDAQ:ICON) was in 12 hedge funds’ portfolios at the end of the first quarter. Aside from Huber Capital Management, which held the biggest stake, among the bullish investors were also Brian Taylor’s Pine River Capital Management, Paul Glazer’s Glazer Capital, Leon Cooperman’s Omega Advisors, and Ken Griffin’s Citadel Investment Group.
On the other hand, investors who decided to dump Iconix Brand Group (NASDAQ:ICON) include Howard Marks’s Oaktree Capital Management, which dropped the largest stake, worth around $19.7 million in stock, and Wallace Weitz’s fund, Wallace R. Weitz & Co., which also cut its stock, about $15.2 million worth.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Huber Capital Management | 2,171,619 | 0 | 6,527,396 | 0 | 6,527,396 | 11.63% |
| Joseph R. Huber | 2,739,032 | 0 | 7,094,809 | 0 | 7,094,809 | 12.64% |
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Page 1 of 9 – SEC Filing
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO
FILED PURSUANT TO
RULE 13d-2(a)
| Iconix Brand Group Inc. |
(Name of Issuer)
| Common Stock |
(Title of Class of Securities)
| 451055107 |
(CUSIP Number)
|
Joseph R. Huber Huber Capital Management, LLC 2321 Rosecrans Avenue, Suite 3245 El Segundo, California 90245 310-207-8400 |
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
| August 12, 2016 |
(Date of Event which Requires
Filing of this Statement)
If the
filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨
Note: Schedules filed in paper
format shall include a signed original and five copies of this schedule, including all exhibits. See §§240.13d-7 for
other parties to whom copies are to be sent.
(continued on following pages)
(Page 1 of 9 Pages)
_______
*The remainder of this cover page shall
be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder
of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange
Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).
