An amended 13D filing with the Securities and Exchange Commission showed that J. Carlo Cannell‘s Cannell Capital has slightly lowered its stake in Rightside Group Ltd. (NASDAQ:NAME) to 1.21 million shares which account for 6.29% of the company’s outstanding stock. Previously, the fund held 1.23 million common shares, according to its latest 13F filing for the reporting period of June 30. The filing also revealed that Cannell Capital retains its right to engage in discussions with members of the company’s management regarding various business plans in order to achieve maximum value from its investment.
Rigthside Group is a company that provides domain name registration and other related services. Over the past 12 months, the company’s shares have gained 69.77%. In its financial report for the second quarter of 2016, Rigthiside Group reported a loss per share of $0.13, above the estimates of a loss per share of $0.22, and revenue of $54 million, slightly below the estimates of $55.5 million. Recently, B. Riley reiterated its ‘Buy’ rating on Rightside Group’s stock, and has a price target of $15 on it, while Deutsche Bank boosted its price target on the stock to $11 from $7.50, but has a ‘Hold’ rating on it.
According to Insider Monkey’s hedge fund database, some of the biggest positions in Rightside Group (NASDAQ:NAME) as of the end of the second quarter include Cannell Capital’s holding, the holding of Jim Simons’ Renaissance Technologies, valued at $4.5 million, a position held by William Charters and Mario Marcon’s Sabal Capital Management, worth $3.33 million, and the position owned by Ken Griffin’s Citadel Investment Group. It should be noted that not all hedge funds have filed for the June 30 period.
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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 |
|---|---|---|---|---|---|---|
| J. Carlo Cannell | 1,214,264 | 0 | 1,214,264 | 0 | 1,214,264 | 6.29% |
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Page 1 of 7 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.1  )
Rightside Group, Ltd.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
76658B100
(CUSIP Number)
J. Carlo Cannell
Cannell Capital LLC
245 Meriwether Circle
Alta, WY
83414
(307) 733-2284
(Name, Address and Telephone Number of Person
to Receive Notices and Communications)
August 4, 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 the 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 7 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).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a current
valid OMB control number.
