Major Investment Firms Are Bullish On Time Inc. And Famous Dave's On Friday

Major investment firms base their purchases and sales on thorough research, which, in most occasions, individuals cannot replicate on their own. So, tracking their moves can provide interesting investment ideas. So, let’s take a look at two very interesting transactions disclosed on Friday.

JPMorgan

One of the largest banking and financial services holding companies in the world, JPMorgan Chase & Co., declared a 12.5 increase in its exposure to Time Inc TIME. Following this move, the firm owns 11,105,122 shares of Common Stock, which represent 10.1 percent of the media company’s total shares outstanding, and are worth more than $235 million at current stock prices.

Previously, as of the end of the last reported quarter, the firm had disclosed ownership of 9,864,421 shares of the company, which already made it the largest institutional investor of record.

Another important shareholder is Fairpointe Capital, which disclosed on its latest Schedule 13F, filed on Thursday, holding a total of 8,724,001 shares of Time Inc. Among hedge funds, Christian Leone’s Luxor Capital Group is the biggest investor, with 3,109,548 shares reported as of the end of the first quarter of the year (the last reported quarter).

Shares of Time Inc. are up almost 0.6 percent on Friday trading.

Lioneye Capital Management

Also on Friday, Lioneye Capital Management, the hedge fund managed by Stephen V. Raneri, disclosed yet another surge in its activist position in Famous Dave's of America, Inc. DAVE.

Over the past few months, the firm declared three increases in its bet on the company. After the latest transaction, Lioneye owns a total of 1,236,108 shares of Common Stock, which represent 17.7 percent of the company’s outstanding stock. On late-June, the fund said it held 1,040,500 shares; as of the end of the first quarter, it owned 831,700 shares.

The 1,236,108 shares make of Raneri’s fund the largest shareholder in the restaurant operator and franchisor, trailed by Jonathan Lennon’s Pleasant Lake Partners, which last disclosed ownership of 923,361 shares.

Despite Lioneye's increased stake, shares of Famous Dave's are down more than 3.5 percent on Friday.