MacKay Shields Amends 13G/A on Forum Energy Tech Stake
Ticker: FET · Form: SC 13G/A · Filed: Jan 11, 2024 · CIK: 1401257
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**MacKay Shields updated their passive stake in Forum Energy Technologies.**
AI Summary
MacKay Shields LLC, an investment management firm, filed an amended Schedule 13G/A on January 11, 2024, indicating a change in their ownership of Forum Energy Technologies, Inc. common stock. This filing, an amendment to a previous disclosure, shows that MacKay Shields LLC continues to hold a significant passive stake in the oil and gas machinery company. This matters to investors because large institutional holdings can influence stock stability and signal confidence (or lack thereof) in the company's future prospects.
Why It Matters
This filing updates MacKay Shields LLC's reported ownership in Forum Energy Technologies, Inc., providing transparency on institutional investor activity which can impact market perception and trading volume.
Risk Assessment
Risk Level: low — This is a routine amendment to a passive ownership filing, indicating no immediate significant risk or change in company control.
Analyst Insight
An investor should note that MacKay Shields LLC continues to hold a passive stake in Forum Energy Technologies, Inc., which suggests ongoing institutional interest without indicating any immediate activist intentions or major strategic shifts.
Key Players & Entities
- MacKay Shields LLC (company) — the reporting person and institutional investor
- Forum Energy Technologies, Inc. (company) — the subject company whose stock is being reported
- January 11, 2024 (date) — the filing date of the SC 13G/A amendment
- 0001401257 (number) — Central Index Key (CIK) for Forum Energy Technologies, Inc.
- 0000061227 (number) — Central Index Key (CIK) for MacKay Shields LLC
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as indicated by the 'FORM TYPE: SC 13G/A' and 'Amendment No. 2' in the filing.
Who is the reporting person in this filing?
The reporting person is MacKay Shields LLC, as stated under 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MACKAY SHIELDS LLC'.
Which company's stock is the subject of this filing?
The subject company is FORUM ENERGY TECHNOLOGIES, INC., as identified under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FORUM ENERGY TECHNOLOGIES, INC.'.
What is the CUSIP number for the securities reported?
The CUSIP number for the Common Stock of Forum Energy Technologies is 34984V209, as listed under 'CUSIP Number' and 'CUSIP No.: 34984V209'.
What rule under the Securities Exchange Act of 1934 is this Schedule 13G filed under?
This Schedule 13G is filed under Rule 13d-1(b), indicated by the '[X] Rule 13d-1(b)' checkbox on the cover page.
Filing Stats: 1,072 words · 4 min read · ~4 pages · Grade level 8.9 · Accepted 2024-01-11 11:35:33
Filing Documents
- feta2_10224.htm (SC 13G/A) — 26KB
- 0001085146-24-000200.txt ( ) — 28KB
(a)
ITEM 1(a). NAME OF ISSUER: FORUM ENERGY TECHNOLOGIES
(b)
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 10344 Sam Houston Park Drive Suite 300 Houston, Texas 70764
(a)
ITEM 2(a). NAME OF PERSON FILING: MacKay Shields LLC
(b)
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 1345 Avenue of the Americas
(c)
ITEM 2(c). CITIZENSHIP: DE (United States)
(d)
ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock
(e)
ITEM 2(e). CUSIP NUMBER: 34984V209 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) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [ ] 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: 980,838 (b) Percent of class: 8.04% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: MacKay Shields LLC : 980,838 (ii) shared power to vote or to direct the vote: MacKay Shields LLC : (iii) sole power to dispose or direct the disposition of: MacKay Shields LLC : 980,838 (iv) shared power to dispose or to direct the disposition of: MacKay Shields LLC : ITEM 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to b