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Omega Protein Corporation (OME) Is A Good Buy At $17 Says Hedge Fund Manager

Published on March 30, 2016 at 10:24 am by Insider Monkey Staff in Hedge Funds
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Is Omega Protein Corporation (NYSE:OME) a good stock to buy after its $5 plunge three weeks ago? We aren’t too familiar with the stock but Nelson Obus’ Wynnefield Capital which generally invests in small-cap stocks thinks the stock is a buy at $17. According to a recent regualtory filing Wynnefield Capital sold 15 thousand Omega Protein Corporation (OME) shares in early March when the stock was trading at $25. Omega Protein shares plunged nearly $5 on March 10th after a disappointing earnings report. Nelson Obus who already controlled more than 5% of OME shares in an activist capacity changed his stance and started purchasing shares the same day. He purchased more than 200 thousand shares at prices slightly below $17 since then. The details of his transactions can be seen below:

We should note that Wynnefield Capital sold more than 150 thousand shares during the fourth quarter of 2015 when Omega Protein Corp shares were trading as high as $25. OME isn’t very popular among hedge funds though a large number of quantitative hedge funds such as D.E. Shaw, AQR Capital, Two Sigma Advisors, and Gotham Asset Management have large positions in the stock.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Wynnefield Partners Small Cap Value 549,820 0 549,820 0 549,820 2.5%
Wynnefield Partners Small Cap Value 897,852 0 897,852 0 897,852 4.0%
Wynnefield Small Cap Value Offshore Fund, Ltd. (No 180,379 0 180,379 0 180,379 0.8%
Wynnefield Capital, Inc. Profit Sharing Money Purchase Plan 85,000 0 85,000 0 85,000 0.4%
Wynnefield Capital Management 1,447,672 0 1,447,672 0 1,447,672 6.5%
Wynnefield Capital, Inc. 13-3688495 180,379 0 180,379 0 180,379 0.8%
Nelson Obus 0 1,713,051 0 1,713,051 1,713,051 7.7%
Joshua Landes 0 1,713,051 0 1,713,051 1,713,051 7.7%

Page 1 of 13 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D/A

(Amendment No. 4)

Under the Securities Exchange Act of 1934

OMEGA PROTEIN CORPORATION 

 (Name of Issuer)

Common Stock, $0.01 par value

 (Title of Class of Securities)

68210P107

( CUSIP Number)

Wynnefield Partners Small Cap Value,
L.P. I

450 Seventh Avenue, Suite 509

New York, New York 10123

Attention: Mr. Nelson Obus

Copy to:

Jeffrey S. Tullman, Esq.

Kane Kessler, P.C.

1350 Avenue of the Americas, 26th
Floor

New York, New York 10019

(212) 541-6222

(Name, Address and Telephone
Number of Person Authorized to Receive Notices and Communications)

March
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 which 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 ¨

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