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The Crosshairs

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Published: March 23rd, 2022
A list of the top 10 potential activist targets.

Welcome back, Crosshairs followers! We’re taking Everbridge Inc. (EVBG) off the list this week, as a Direct Hit. Ancora Holdings Group LLC popped up on Thursday, March 17, with a campaign urging the emergency response technology developer to explore a sale. The software company was installed in the No. 2 slot in January after it announced the unexpected departure of its CEO and disappointing guidance.

Separately, Ancora’s Jim Chadwick has been on a tear with new campaigns, launching insurgencies at IAA Inc. (IAA) on Tuesday, Everbridge on Thursday and SpartanNash Co. (SPTN) on Friday.

Chico’s FAS Inc. (CHS), meanwhile, shifts to the Crosshairs after it made some interesting board changes in advance of an upcoming director nomination deadline. The retailer said March 11 it will appoint an existing director as board chair, ousting executive chair Bonnie Brooks from the position she has held since 2020. Last month, Chico’s brought on a Nike Inc. (NKE) vice president as a director.

Jim Mitarotonda’s Barington Capital Group LP, who has agitated for board changes previously, reported last month continuing to own roughly 1.9 million shares. Will the changes be enough to keep Mitarotonda at bay?

Editor’s note: The original version of this article was published earlier on The Deal’s premium subscription website. The rest of the list as well other potential activist candidates in The Watch List are available to The Deal’s premium subscribers. For access, log in to TheDeal.com or use the form below to request a free trial.

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