Boston Partners owns 1.184 million shares, give or take, of Mattersight, per its latest SEC Schedule 13F Holdings — as of November 2, 2017. Not that terribly long ago, more than a million shares accumulated in the company would have pushed a given holder over the five per cent threshold, triggering more detail and timely ownership reports at the SEC. However, due solely to Mr. Conway’s steady drumbeat of GAAP Operating Loss-absorbing (and cash generating) share issuances, the former Robeco fund entities (at One Beacon Street, in Boston — now known as Boston Partners, after 2015) remain well below that trigger-point.
As of the end of Q2 2017, August 2, 2017 actually — the entity only owned 813,400 shares — so it has increased its stake by nearly 30 per cent in the third quarter of 2017. So the group has been a buyer, at perhaps as low as $2.10/share — and as high as $3. We won’t ever know, since they didn’t cross the threshold mentioned immediately above.
It held 715,648 shares as of year end 2016 — and only 560,258 shares at this time, last year. So clearly the Boston Partners were believers in some sort of up-tick arriving, and soon.
Will the group add more between now and year end? We shall see — in early February 2018.
I (for one) think — even with their so-called long/short strategy — these guys are going to be licking their wounds… on any shares bought above $2.15, come year end 2017 GAAP LPS announcements (due in late February 2018).
Be careful out there.