Minerva Advisors Updates Virco Mfg. Stake in SC 13G/A Filing
Ticker: VIRC · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 751365
| Field | Detail |
|---|---|
| Company | Virco Mfg Corporation (VIRC) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Pages | 6 |
| Reading Time | 8 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, form-13g, investor-update
TL;DR
**Minerva Advisors just updated their Virco Mfg. stake, showing continued interest.**
AI Summary
Minerva Advisors LLC, along with its affiliates Minerva Group, LP, Minerva GP, LP, Minerva GP, Inc., and David P. Cohen, filed an amended SC 13G/A on February 9, 2024, indicating their ownership of Virco Mfg. Corporation's common stock as of December 31, 2023. This filing, Amendment No. 12, updates their previous disclosures regarding their stake in the furniture manufacturer. This matters to investors because it provides transparency into a significant institutional holder's position, which can influence stock stability and investor confidence.
Why It Matters
This filing shows that Minerva Advisors LLC continues to hold a significant position in Virco Mfg. Corporation, signaling their ongoing interest and potential influence on the company's direction.
Risk Assessment
Risk Level: low — This is a routine amendment filing by an institutional investor, indicating no immediate or significant new risks to the company or its shareholders.
Analyst Insight
An investor should note that Minerva Advisors LLC maintains its position, suggesting continued confidence in Virco Mfg. Corporation. While this filing doesn't reveal changes in ownership percentage, it confirms ongoing institutional interest, which can be a positive signal for long-term holders.
Key Players & Entities
- Minerva Advisors LLC (company) — reporting person and investment adviser
- Virco Mfg. Corporation (company) — subject company, public building and related furniture manufacturer
- David P. Cohen (person) — reporting person, U.S. Citizen
- Minerva Group, LP (company) — reporting person, Delaware entity
- Minerva GP, LP (company) — reporting person, Delaware entity
- Minerva GP, Inc. (company) — reporting person, Pennsylvania entity
FAQ
What is the purpose of this specific filing, SC 13G/A?
The SC 13G/A is an amendment (Amendment No. 12) to a Schedule 13G, filed by an institutional investor to update their beneficial ownership of a company's securities, in this case, Virco Mfg. Corporation's common stock, as of December 31, 2023.
Who are the primary reporting persons in this SC 13G/A filing?
The primary reporting persons are Minerva Advisors LLC, Minerva Group, LP, Minerva GP, LP, Minerva GP, Inc., and David P. Cohen, as listed under 'NAMES OF REPORTING PERSONS' on the cover page.
What is the CUSIP number for Virco Mfg. Corporation's common stock mentioned in the filing?
The CUSIP number for Virco Mfg. Corporation's common stock is 927651109, as stated on the cover page of the filing.
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 indicated on the cover page.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c), as designated by the 'X' in the appropriate box on the cover page.
Filing Stats: 1,885 words · 8 min read · ~6 pages · Grade level 8.7 · Accepted 2024-02-09 12:09:24
Filing Documents
- vircomfgcorp13ga12-2.htm (SC 13G/A) — 60KB
- 0001462390-24-000037.txt ( ) — 61KB
(a)
Item 1(a) Name of Issuer. VIRCO MFG. CORPORATION
(b)
Item 1(b) Address of Issuer's Principal Executive Offices. 2027 Harpers Way Torrance, CA 90501
(a)
Item 2(a) Name of Person Filing. Minerva Advisors LLC Minerva Group, LP Minerva GP, LP Minerva GP, Inc. David P. Cohen
(b)
Item 2(b) Address of Principal Business Office or, if none, Residence. 50 Monument Road, Suite 201 Bala Cynwyd, PA 19004
(c)
Item 2(c) Citizenship. David P. Cohen is a U.S. Citizen. Minerva Advisors LLC, Minerva Group, LP, and Minerva GP, LP are organized under Delaware law. Minerva GP, Inc. is organized under Pennsylvania law.
(d)
Item 2(d) Title of Class of Securities. Common Stock $.01 par value
(e)
Item 2(e) CUSIP Number. 927651109 Item 3 This statement is not filed pursuant to Rules 13d-1(b), 13d-2(b) or 13d-2(c). Item 4 (a) Amount beneficially owned: Minerva Advisors LLC* - 1,097,339 Minerva Group, LP - 812,186 Minerva GP, LP* - 812,186 Minerva GP, Inc.* - 812,186 David P. Cohen* - 1,103,513 *Each of these reporting persons is deemed a beneficial owner of the 812,186 shares of the Issuer held by Minerva Group, LP. David P. Cohen is the beneficial owner of 6,174 shares of the Issuer owned individually and is also deemed a beneficial owner of the 1,097,339 shares of the Issuer beneficially owned by Minerva Advisors LLC. (b) Percent of Class: Minerva Advisors LLC* - 6.7% Minerva Group, LP - 5.0% Minerva GP, LP* - 5.0% Minerva GP, Inc.* - 5.0% David P. Cohen* - 6.8% *Each of these reporting persons is deemed a beneficial owner of the 5.0% of the shares of the Issuer held by Minerva Group, LP. David P. Cohen is the beneficial owner of 0.04% of the shares of the Issuer owned individually and is also deemed a beneficial owner of the 6.7% of the shares of the Issuer beneficially owned by Minerva Advisors LLC. Based on the total of 16,347,314 shares of the Issuer's Common Stock outstanding as of December 4, 2023, as reported in the Issuer's Quarterly Report on Form 10-Q for the period ended October 31, 2023. (c) Number of Shares as to which the person has: (i) Sole power to vote or to direct the vote: Minerva Advisors LLC* - 812,186 Minerva Group, LP - 812,186 Minerva GP, LP* - 812,186 Minerva GP, Inc.* - 812,186 David P. Cohen* - 818,360 *Each of these reporting persons is deemed a beneficial owner of the 812,186 shares of the Issuer held by Minerva Group, LP. David P. Cohen is also the beneficial owner of 6,174 shares of the Issuer owned individually. (ii) Shared power to vote or to direct the vote: Minerva Advisors LLC - 285,153 David P. Cohen** - 285,153 **David P. Cohen is deemed a beneficial