Thursday, December 8, 2011

Stadium Capital continues building its position in American Reprographics Co (ARC) shares (information updated for purchases through 12/7/2011)

I’ve done several previous posts on Reprographics 101 about Stadium Capital continuing to build its position in ARC shares. Today is yet another “update post.”

Since the last time I posted about Stadium Capital’s ownership (and purchases) of ARC shares, Stadium Capital has completed three additional purchases of ARC shares. Here’s the latest table reflecting Stadium Capital’s purchases of ARC shares from August 23, 2011 through December 7, 2011.

Note that on December 5th , Stadium Capital purchased 143,472 shares, its largest individual-day purchase of ARC shares since August 25th.

At the rate Stadium Capital is purchasing ARC shares, it might not be too long before Stadium Capital’s position in ARC shares is greater than Micro Device’s position in ARC shares. (Micro Device is owned by Mohan and Suri.)

Transaction Date

Purchase Price

# of Shares Purchased

# of shares owned, after purchase

%age of O/S Stock Owned

8/23/11

$3.79

30,600

4,676,921

10.12%

8/24/11

$3.88

17,991

4,694,912

10.16%

8/25/11

$3.80

244,000

4,938,912

10.69%

9/2/11

$3.54

29,315

4,968,227

10.75%

9/6/11

$3.45

1,833

4,970,060

10.75%

9/8/11

$3.57

6,591

4,976,651

10.77%

9/9/11

$3.49

11,641

4,988,292

10.79%

9/12/11

$3.54

17,256

5,005,548

10.83%

9/20/11

$3.56

13,737

5,019,285

10.86%

9/21/11

$3.50

9,170

5,028,455

10.88%

9/26/11

$3.47

5,500

5,033,955

10.89%

9/28/11

$3.33

27,524

5,061,479

10.95%

9/29/11

$3.29

22,203

5,083,682

11.00%

9/30/11

$3.35

41,019

5,124,701

11.09%

10/3/11

$3.20

18,348

5,143,049

11.13%

10/17/11

$3.64

15,497

5,158,546

11.16%

11/1/11

$3.89

2,201

5,160,747

11.17%

11/9/11

$4.29

14,605

5,175,352

11.20%

11/15/11

$4.30

804

5,176,156

11.20%

11/16/11

$4.34

8,304

5,184,460

11.22%

11/17/11

$4.28

5,225

5,189,685

11.23%

11/23/11

$3.99

10,669

5,200,354

11.25%

11/29/11

$3.94

2,517

5,202,871

11.26%

12/5/11

$4.29

143,472

5,346,343

11.57%

12/6/11

$4.14

1,718

5,348,061

11.57%

12/7/11

$4.25

9,169

5,357,230

11.59%

Stadium Capital had amassed 4,646,321 ARC shares prior to August 23rd, and I’m pretty sure that those earlier share purchases were completed when ARC’s stock price was substantially higher than it’s been of late.

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