The New Radoff Bradley Louis Holding in Cdi Corp
Radoff Bradley Louis filed with the SEC SC 13D form for Cdi Corp. The form can be accessed here: 000092189516005765. As reported in Radoff Bradley Louis’s form, the filler as of late owns 5.9% or 1,100,000 shares of the Industrials–company.
Cdi Corp stake is a new one for the and it was filed because of activity on September 19, 2016. We feel this shows Radoff Bradley Louis’s positive view for the stock.
Reasons Why Radoff Bradley Louis Bought – Cdi Corp Stock
Purpose of Transaction
The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity.Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.
Dating back to July 2014 when the Reporting Persons sent a private letter to the Issuer’s Board of Directors (the “Board”), the Reporting Persons have previously communicated their views and concerns to the Issuer’s management and Board regarding a myriad of issues, including the Issuer’s corporate governance and strategy.
Specifically, the Reporting Persons are concerned that a majority of the Board is over-tenured (5 of 8 directors have served on the Board at least since 2003), directors are significantly overcompensated relative to the Issuer’s size and financial performance, and the continued relationship with Barton J. Winokur’s law firm while he serves as a director creates inherent conflicts of interest in the boardroom. The Reporting Persons believe that the size of the Board should be reduced, Board compensation should be brought in line with the Issuer’s market cap and performance, ties with Mr. Winokur and his law firm should be severed and the Issuer should pursue a strategic alternatives review process.
The Reporting Persons are concerned that the Issuer’s stock price will continue to deteriorate unless immediate action is taken to address their concerns and the Reporting Persons intend to engage in discussions with the Issuer’s management, the Board, stockholders of the Issuer and other interested parties regarding the Issuer’s corporate governance (including Board composition), operations, strategic plans and other means to enhance stockholder value.
No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein.The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in additional communications with management and the Board of the Issuer, engaging in discussions with stockholders of the Issuer and others about the Issuer and the Reporting Persons’ investment, making proposals to the Issuer concerning changes to the capitalization, ownership structure, Board structure (including Board composition) or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in Item 4.
CUSIP NO. 125071100
Cdi Corp Institutional Sentiment
Latest Security and Exchange filings show 89 investors own Cdi Corp. The institutional ownership in Q3 2015 is high, at 92.86% of the outstanding shares. This is increased by 6105435 the total institutional shares. 17272482 were the shares owned by these institutional investors. In total 2 funds opened new Cdi Corp stakes, 40 increased stakes. There were 6 that closed positions and 34 reduced them.
Deprince Race & Zollo Inc is an institutional investor bullish on Cdi Corp, owning 432059 shares as of Q3 2015 for 0.07% of its portfolio. Spectrum Advisory Services Inc owns 18985 shares or 0.07% of its portfolio. WA Glacier Peak Capital Llc have 0.71% of their stock portfolio for 149098 shares. Further, Heartland Advisors Inc reported stake worth 0.48% of its US stock portfolio. The CA Hawk Ridge Management Llc owns 387644 shares. Cdi Corp is 2.47% of the manager’s US portfolio.
CDI Corp. provides engineering, information technology and staffing solutions. The Company operates in three segments: Global Engineering and Technology Solutions (GETS), Professional Staffing Services (PSS) and Management Recruiters International (MRI). It provides staffing services through its MRINetwork of franchisees. The GETS segment provides engineering and information technology solutions that involve the production of deliverable work products or services performed at its facility or at a customer’s facility. The PSS segment provides technical and professional personnel for discrete periods of time to augment the customer’s workforce in times of project, seasonal, peak period or business cycle needs. The MRI segment is a global franchisor that does business as MRINetwork and provides the use of its trademarks, business systems and training and support services to its franchisees. It serves the oil, gas and chemicals, aerospace and industrial equipment, and hi-tech industries.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment decreased to 0.67 in Q2 2016. Its down 0.88, from 1.55 in 2016Q1. The ratio dived, as 11 funds sold all CDI Corp. shares owned while 32 reduced positions. 10 funds bought stakes while 19 increased positions. They now own 7.25 million shares or 15.53% less from 8.58 million shares in 2016Q1.
Glacier Peak Capital Llc holds 0.78% of its portfolio in CDI Corp. for 120,260 shares. Hawk Ridge Capital Management Lp owns 153,991 shares or 0.57% of their US portfolio. Moreover, Tfs Capital Llc has 0.12% invested in the company for 108,159 shares. The Us-based Ancora Advisors Llc has invested 0.08% in the stock. Rbf Capital Llc, a California-based fund reported 46,894 shares.
Analysts await CDI Corp. (NYSE:CDI) to report earnings on November, 2. They expect $-0.29 EPS, down 583.33% or $0.35 from last year’s $0.06 per share. After $-0.33 actual EPS reported by CDI Corp. for the previous quarter, Wall Street now forecasts -12.12% EPS growth.
The stock decreased 0.37% or $0.02 on September 28, hitting $5.41. CDI Corp. (NYSE:CDI) has risen 15.35% since February 25, 2016 and is uptrending. It has outperformed by 4.10% the S&P500.
According to Zacks Investment Research, “CDI CORP. has three business segments: Technical Services, Temporary Services and Managment Recruiters. Technical Services segment offers four types of technical personnel services: technical staffing, managed staffing, managed technical outsourcing and consulting. Managment Recruiters segment primarily recruits management, technical, sales and clerical personnel for permanent employment positions. Temporary Services segment provides clerical, secretarial, office support, new product demonstration and survey and some semi-skilled light industrial personnel.”
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