Migdal Insurance Discloses Passive Stake in Ormat Technologies
Ticker: ORA · Form: SC 13G · Filed: Jan 31, 2024 · CIK: 1296445
| Field | Detail |
|---|---|
| Company | Ormat Technologies, INC. (ORA) |
| Form Type | SC 13G |
| Filed Date | Jan 31, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**Big Israeli insurer just bought into Ormat Technologies, signaling institutional confidence.**
AI Summary
Migdal Insurance & Financial Holdings Ltd., an Israeli financial institution, reported beneficial ownership of ORMAT TECHNOLOGIES, INC. (ticker not provided in filing) ordinary shares as of December 31, 2023. This filing, an SC 13G, indicates that Migdal is a passive investor, holding less than 5% of the company's shares. This matters to investors because it signals a significant institutional investor sees value in Ormat Technologies, potentially boosting confidence in the stock.
Why It Matters
This filing reveals a major institutional investor, Migdal Insurance, has taken a passive stake in Ormat Technologies, suggesting a vote of confidence in the company's future.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of a passive investment, posing minimal risk to current or prospective shareholders.
Analyst Insight
A smart investor would view this as a positive signal, as a large institutional investor like Migdal Insurance & Financial Holdings Ltd. has identified ORMAT TECHNOLOGIES, INC. as a worthwhile investment, potentially indicating underlying strength or future growth prospects.
Key Players & Entities
- ORMAT TECHNOLOGIES, INC. (company) — the subject company whose shares are being reported
- Migdal Insurance & Financial Holdings Ltd. (company) — the reporting person, an Israeli financial institution
- December 31, 2023 (date) — the date of the event requiring this filing
- 686688102 (number) — the CUSIP number for Ormat Technologies' Ordinary Shares
Forward-Looking Statements
- Migdal Insurance & Financial Holdings Ltd. will maintain its passive investment in ORMAT TECHNOLOGIES, INC. for the foreseeable future. (Migdal Insurance & Financial Holdings Ltd.) — high confidence, target: December 31, 2024
FAQ
What type of filing is this and what does it signify?
This is an SC 13G filing, which is used by passive investors who acquire beneficial ownership of more than 5% but less than 20% of a company's voting securities. It signifies that Migdal Insurance & Financial Holdings Ltd. holds a significant, but non-controlling, stake in ORMAT TECHNOLOGIES, INC. as of December 31, 2023.
Who is the reporting person in this filing?
The reporting person is Migdal Insurance & Financial Holdings Ltd., an organization based in Israel with a business address at 4, Ef'al Street, Petach Tikva, L3, 49512.
What is the subject company of this filing?
The subject company is ORMAT TECHNOLOGIES, INC., which is classified under Electric Services (4911) and has its business address at 6140 Plumas Street, Reno, NV 89519-6075.
What is the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' is December 31, 2023, indicating that Migdal's beneficial ownership crossed the reporting threshold on or before this date.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c), as indicated by the checked box on the cover page. This rule is typically used by institutional investors who are not qualified institutional investors and acquire shares in the ordinary course of business without the purpose or effect of changing or influencing control of the issuer.
Filing Stats: 937 words · 4 min read · ~3 pages · Grade level 10.9 · Accepted 2024-01-31 06:02:30
Filing Documents
- zk2430848.htm (SC 13G) — 53KB
- 0001178913-24-000310.txt ( ) — 54KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. January 30, 2024 MIGDAL INSURANCE AND FINANCIAL HOLDINGS LTD. BY: /s/ Yosef Ben Baruch & Tal Cohen authorized signatories of MIGDAL INSURANCE AND FINANCIAL HOLDINGS LTD. Page 5 of 5 pages