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Daily Activist Investing May 5: A day of underrated plays

Activist loyalists, light day today. News and stories below for May 5. Hit us with leads at @activiststocks, daily newsletter signup, ICYMI the latest newsletter is here.

News-

  • Big Five Sporting Goods settled with Stadium Capital, giving it 3 board representatives and doing away with the controversial super majority voting proposal [link]

  • Lioneye Capital upped its Famous Daves by 12%, now owning 12.8% of the company [link]

  • Mangrove Partners is now an activist at Atlantic Power with a 7.5% stake [link]

Stories-

  • @activistinvestr has an interesting piece on why activist wait or need ISS and Glass Lewis recommendations. Of note, “While support from ISS and GL certainly can’t hurt, it also is by no means assured, even in poor performers...” and “Worry about ISS and GL, especially if you can’t avoid a close situation” [link]