RWWM Inc. Divests Entire Stake in Daily Journal Corp.
Ticker: DJCO · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 783412
Complexity: simple
Sentiment: bearish
Topics: institutional-selling, ownership-change, divestment
TL;DR
**RWWM Inc. just dumped all its Daily Journal stock, watch out!**
AI Summary
RWWM Inc. dba Roseman Wagner Wealth Management filed an amended SC 13G/A on February 12, 2024, indicating a significant change in their beneficial ownership of Daily Journal Corporation's common stock as of December 31, 2023. The filing shows that RWWM Inc. now holds 0 shares with sole voting power and 0 shares with shared voting power, a notable decrease from previous filings. This matters to investors because it signals that a major institutional investor has completely divested its stake, which could be interpreted as a loss of confidence in the company's future prospects.
Why It Matters
This filing indicates a major institutional investor, RWWM Inc., has sold off its entire position in Daily Journal Corporation, potentially signaling a lack of confidence in the company's future performance.
Risk Assessment
Risk Level: medium — The complete divestment by an institutional investor could signal underlying issues or a lack of future growth potential, increasing investment risk.
Analyst Insight
A smart investor would investigate the reasons behind RWWM Inc.'s complete divestment from Daily Journal Corporation, potentially reviewing recent company news, earnings, and industry trends before making any investment decisions or considering reducing their exposure.
Key Numbers
- 0 — Sole Voting Power Shares (RWWM Inc. now holds zero shares with sole voting power in Daily Journal Corporation.)
- 0 — Shared Voting Power Shares (RWWM Inc. now holds zero shares with shared voting power in Daily Journal Corporation.)
Key Players & Entities
- RWWM Inc. dba Roseman Wagner Wealth Management (company) — the reporting person who filed the SC 13G/A
- Daily Journal Corporation (company) — the issuer whose common stock is being reported on
- December 31, 2023 (date) — the date of the event requiring the filing
- February 12, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- Daily Journal Corporation's stock price may experience downward pressure due to the institutional divestment. (Daily Journal Corporation) — medium confidence, target: Q1 2024
FAQ
What is the primary purpose of this SC 13G/A filing by RWWM Inc.?
The primary purpose of this SC 13G/A filing is to amend previous disclosures regarding RWWM Inc.'s beneficial ownership in Daily Journal Corporation, specifically noting a change in their holdings as of December 31, 2023, where they now report 0 shares with sole or shared voting power.
Who is the issuer whose securities are being reported on in this filing?
The issuer whose securities are being reported on is DAILY JOURNAL CORPORATION, with the title of class of securities being COMMON STOCK, PAR VALUE $0.01 PER SHARE, and CUSIP Number 233912104.
What was the 'Date of Event which Requires Filing of this Statement'?
The 'Date of Event which Requires Filing of this Statement' was December 31, 2023, as stated on the cover page of the filing.
How many shares with sole voting power does RWWM Inc. report in this amendment?
RWWM Inc. reports 0 shares with sole voting power, as indicated in item 5 of the cover page.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the checked box on the cover page.
Filing Stats: 1,733 words · 7 min read · ~6 pages · Grade level 7.7 · Accepted 2024-02-12 15:52:08
Key Financial Figures
- $0.01 — ame of Issuer) COMMON STOCK, PAR VALUE $0.01 PER SHARE (Title of Class of Securitie
Filing Documents
- djcoa14_21224.htm (SC 13G/A) — 61KB
- 0001085146-24-001076.txt ( ) — 62KB
(a)
ITEM 1(a). NAME OF ISSUER: DAILY JOURNAL CORPORATION
(b)
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 915 East First Street Los Angeles, CA 90012
(a)
ITEM 2(a). NAME OF PERSON FILING: RWWM Inc. dba Roseman Wagner Wealth Management RWWM Inc. 401K Profit Sharing Plan Scott P. Roseman Aaron J. Wagner Roseman Wagner Partners, L.P.
(b)
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 4970 Rocklin Road, Suite 200 Rocklin, CA 95677
(c)
ITEM 2(c). CITIZENSHIP: USA/California USA/California USA USA USA/Delaware
(d)
ITEM 2(d). TITLE OF CLASS OF SECURITIES: COMMON STOCK, PAR VALUE $0.01 PER SHARE
(e)
ITEM 2(e). CUSIP NUMBER: 233912104 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [X] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. (a) Amount beneficially owned: 323,987 (b) Percent of class: 23.53% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: RWWM Inc. dba Roseman Wagner Wealth Management : 0 RWWM Inc. 401K Profit Sharing Plan : 0 Scott P. Roseman : 7,947 Aaron J. Wagner : 2,519 Roseman Wagner Partners, L.P. : 25,456 (ii) shared power to vote or to direct the vote: RWWM Inc. dba Roseman Wagner Wealth Management : 0 RWWM Inc. 401K Profit Sharing Plan : 7,802 Scott P. Roseman : 7,802 Aaron J. Wagner : 7,802 Roseman Wagner Partners, L.P. : 0 (iii) sole power to dispose or direct