Nine Ten Capital Cuts IRMD Stake to 7.0%, Holding 799,366 Shares
Ticker: IRMD · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1325618
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, amendment
TL;DR
**Nine Ten Capital just cut its IRMD stake to 7.0%, watch for potential selling pressure.**
AI Summary
Nine Ten Capital Management LLC, a Chicago-based investment firm, filed an amended Schedule 13G/A on February 12, 2024, disclosing its beneficial ownership in Iradimed Corp (IRMD) as of December 31, 2023. The firm now holds 799,366 shares, representing 7.0% of Iradimed's common stock, down from a previous undisclosed higher percentage. This matters to investors because a significant institutional investor has reduced its stake, which could signal a change in their outlook on Iradimed's future performance or valuation.
Why It Matters
This filing indicates a notable reduction in a major institutional investor's position, which could be interpreted as a loss of confidence or a strategic portfolio rebalancing, potentially influencing other investors' perceptions of IRMD.
Risk Assessment
Risk Level: medium — A significant reduction in ownership by an institutional investor can sometimes precede further stock price declines if other investors follow suit.
Analyst Insight
A smart investor would investigate the reasons behind Nine Ten Capital Management LLC's reduction in stake, potentially looking for any negative news or changes in Iradimed Corp's fundamentals that might have prompted this move, before making any investment decisions.
Key Numbers
- 799,366 — Shares Beneficially Owned (This is the total number of Iradimed Corp shares Nine Ten Capital Management LLC now holds.)
- 7.0% — Percentage of Class (This represents the proportion of Iradimed Corp's common stock owned by Nine Ten Capital Management LLC, indicating a reduced stake.)
Key Players & Entities
- Nine Ten Capital Management LLC (company) — the reporting person, an investment firm based in Chicago, IL
- Iradimed Corp (company) — the subject company, a medical instruments manufacturer
- 799,366 (dollar_amount) — the number of shares beneficially owned by Nine Ten Capital Management LLC
- 7.0% (dollar_amount) — the percentage of Iradimed Corp's common stock beneficially owned by Nine Ten Capital Management LLC
- December 31, 2023 (date) — the date of the event requiring the filing of this statement
- February 12, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- Iradimed Corp's stock price may experience downward pressure in the short term. (IRMD) — medium confidence, target: 3 months
- Other institutional investors might re-evaluate their positions in Iradimed Corp. (IRMD) — medium confidence, target: 6 months
FAQ
What is the primary purpose of this SC 13G/A filing by Nine Ten Capital Management LLC?
The primary purpose of this SC 13G/A filing is to amend a previous Schedule 13G, disclosing a change in beneficial ownership of Iradimed Corp's common stock by Nine Ten Capital Management LLC as of December 31, 2023, specifically showing a reduced stake to 7.0%.
How many shares of Iradimed Corp (IRMD) does Nine Ten Capital Management LLC beneficially own according to this filing?
According to this filing, Nine Ten Capital Management LLC beneficially owns 799,366 shares of Iradimed Corp's common stock, as stated in Row 9 of the cover page.
What percentage of Iradimed Corp's common stock does Nine Ten Capital Management LLC now own?
Nine Ten Capital Management LLC now owns 7.0% of Iradimed Corp's common stock, as indicated in Row 11 of the cover page.
What is the 'Date of Event Which Requires Filing of this Statement' for this particular amendment?
The 'Date of Event Which Requires Filing of this Statement' is December 31, 2023, as specified on the first page of the Schedule 13G/A.
Does Nine Ten Capital Management LLC have sole or shared voting and dispositive power over these shares?
Nine Ten Capital Management LLC has sole voting power over 799,366 shares and sole dispositive power over 799,366 shares, with zero shared voting or dispositive power, as detailed in Rows 5, 6, 7, and 8 of the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 12, 2024 regarding IRADIMED CORP (IRMD).