A newly-amended 13D filing with the US SEC showed that Joe Huber‘s Huber Capital Management has entered into an Agreement with Iconix Brand Group Inc. (NASDAQ:ICON) demonstrating its support of the company’s slate of directors for election at the 2016 annual meeting of stockholders. Upon this agreement, Joe Huber agreed, among other things, not to nominate any person (unless granted by agreement) for election and not to start or support any ‘withhold’ or similar campaign regarding the 2016 annual meeting. In addition, the company’s slate of directors for election to the board will consist of nine directors, and the board will nominate Kenneth Slutsky to the board; also, Joe Huber granted to appear in person or by proxy at every annual or special meeting till 15 days before submission of nominations. Huber Capital Management’s stake in Iconix Brand Group consists of 6.99 million shares, which account for 12.45% of the float.
Iconix Brand Group is a brand management company that runs more than 35 famous consumer brands. Since the beginning of the year, the company’s stock has gained 20.94%. In its last financial report for the second quarter of 2016, Iconix Brand Group reported EPS of $0.27 and revenue of $95.74 million, topping the analysts’ estimates of $0.23 and $95.22 million, respectively.
The number of hedge funds from our database long Iconix Brand Group (NASDAQ:ICON) stood at 15 at the end of June, compared to 12 in the earlier quarter. Among bullish investors were Kenneth Tropin’s Graham Capital Management, with a position valued at $5.71 million, David Keidan’s Buckingham Capital Management, which held a position worth around $4.68 million, Zeke Ashton’s Centaur Capital Partners, Ken Griffin’s Citadel Investment Group, and Neil Chriss’ Hutchin Hill Capital.
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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 | 2,067,889 | 0 | 6,423,666 | 0 | 6,423,666 | 11.44% |
| Joseph R. Huber | 2,635,302 | 0 | 6,991,079 | 0 | 6,991,079 | 12.45% |
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Page 1 of 8 – 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)
(Amendment No. 2)*
| 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)
| September 28, 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).
