Wax Asset Management Holds 5.0% Stake in Energy Services of America
Ticker: ESOA · Form: SC 13G/A · Filed: Feb 8, 2024 · CIK: 1357971
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, stake-update
TL;DR
**Wax Asset Management still owns 5.0% of ESOA, showing continued institutional interest.**
AI Summary
Wax Asset Management, LLC, a Connecticut-based investment firm, has updated its ownership stake in Energy Services of America Corporation (ESOA) as of December 31, 2023. The filing, an SC 13G/A amendment, indicates that Wax Asset Management now beneficially owns 1,100,000 shares of ESOA's common stock, representing 5.0% of the company's outstanding shares. This matters to investors because it shows a significant institutional holder has maintained or slightly adjusted its position, signaling continued confidence or a strategic re-evaluation in the company's prospects.
Why It Matters
This filing confirms a major institutional investor's continued significant stake in Energy Services of America, which can influence stock stability and investor sentiment.
Risk Assessment
Risk Level: low — This filing is an amendment to a previous disclosure, indicating a stable or slightly adjusted position rather than a new, volatile investment.
Analyst Insight
Investors should note that a significant institutional holder maintains a stable position, suggesting no immediate red flags but also no strong new bullish signal. It's worth monitoring future filings for any significant changes in their stake.
Key Numbers
- 1,100,000 — Shares Beneficially Owned (Represents the total number of common stock shares of Energy Services of America Corporation held by Wax Asset Management, LLC.)
- 5.0% — Percentage of Class (Indicates the proportion of Energy Services of America Corporation's common stock beneficially owned by Wax Asset Management, LLC.)
Key Players & Entities
- Wax Asset Management, LLC (company) — the reporting person and beneficial owner of shares
- Energy Services of America Corporation (company) — the issuer of the securities
- 1,100,000 (dollar_amount) — number of shares beneficially owned
- 5.0% (dollar_amount) — percentage of class beneficially owned
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- Wax Asset Management will maintain a significant stake in Energy Services of America Corporation for the foreseeable future. (Wax Asset Management, LLC) — medium confidence, target: December 31, 2024
FAQ
What is the primary purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 1) to a previous Schedule 13G, updating the beneficial ownership information of Wax Asset Management, LLC in Energy Services of America Corporation as of December 31, 2023.
Which entity is the reporting person in this filing?
The reporting person in this filing is Wax Asset Management, LLC, a company incorporated in the United States with a business address at 44 Cherry Lane, Madison, CT.
How many shares of Energy Services of America Corporation does Wax Asset Management, LLC beneficially own?
Wax Asset Management, LLC beneficially owns 1,100,000 shares of the Common Stock of Energy Services of America Corporation, as stated on page 3 of 5, Item 9.
What percentage of Energy Services of America Corporation's common stock does Wax Asset Management, LLC own?
Wax Asset Management, LLC beneficially owns 5.0% of the outstanding Common Stock of Energy Services of America Corporation, as indicated on page 3 of 5, Item 13.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified on the cover page of the filing.
Filing Stats: 1,002 words · 4 min read · ~3 pages · Grade level 11.2 · Accepted 2024-02-08 17:26:37
Filing Documents
- fp0087120-2_sc13ga.htm (SC 13G/A) — 39KB
- 0001398344-24-002376.txt ( ) — 41KB
Ownership
Item 4. Ownership. 12/31/23 (a) Amount beneficially owned: 1,113,695 (b) Percent of class: 6.7% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 1,113,695 (ii) Shared power to vote or to direct the vote: (iii) Sole power to dispose or to direct the disposition of: 1,113,695 (iv) Shared power to dispose or to direct the disposition of: Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ] Item 6. All of the shares of Common Stock set forth in Item 4 are owned by investment advisory clients of Wax Asset Management, LLC, which is deemed to be a beneficial owner of those shares pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, due to its discretionary power to make investment decisions over such shares for its clients. Investment advisory contracts also grant the Adviser voting power over the securities held in client accounts. In all cases, persons other than Wax Asset Management, LLC has the right to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of the shares. No individual client holds more than five percent of the class. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not applicable Item 8. Identification and Classification of Members of the Group. Not applicable Item 9. Notice of Dissolution of Group. Not applicable CUSIP NO. 29271Q103 13G Page 5 of 5 Pages Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held fo