Activist Hedge Fund Increases KIT Digital Stake To 5%
By Sankrant Sanu:KIT Digital (KITD) is a leading infrastructure player in the major ongoing shift from broadcast to broadband video. Though KIT Digital is a leading player in this rapidly-growing space its shares are significantly undervalued due to ongoing management and board transitions. Long-term investors have not seen the value materialize with ongoing board and management changes at the company. The recent acquisition of a 5% stake in the company by a respected activist hedge fund is a vote of confidence in KIT Digital's upside potential and a positive step toward unlocking the value for shareholders.
The Schedule 13D filing.
An SC 13D was filed by the company on April 27, 2012, on behalf of Costa Brava Partnership III L.P., Roark, Rearden and Hamot (RRH), LLC and Seth W. Hamot. "Seth W. Hamot is the president of RRH, which is the general partner of Costa BravaComplete Story »