Form 4: Mink Brook Asset Management Increases Stake in DLH Holdings Corp. Through Recent Share Purchases

Mink Brook Asset Management LLC, a 10% owner and director of DLH Holdings Corp., has increased its beneficial ownership in the company through a series of open market purchases totaling 1,470 shares across three days in late May 2025.

Summary

• Mink Brook Asset Management LLC, identified as a 10% owner and director of DLH Holdings Corp. (DLHC), reported recent acquisitions of common stock.
• On May 27, 2025, 90 shares were purchased at a weighted average price of $5.00 per share.
• On May 28, 2025, an additional 416 shares were acquired at a weighted average price of $4.9986 per share.
• On May 29, 2025, 964 shares were bought at a weighted average price of $4.9746 per share.
• These purchases, totaling 1,470 shares, were made indirectly through Mink Brook Partners LP.
• Following these transactions, Mink Brook Partners LP beneficially owns 1,469,736 shares, and Mink Brook Opportunity Fund LP beneficially owns 694,322 shares, bringing the total indirect beneficial ownership by entities managed by Mink Brook Asset Management LLC to 2,164,058 shares.

Sentiment

Score: 7

Explanation: The sentiment is positive as a significant insider (10% owner and director) is increasing their stake, indicating confidence in the company. The relatively small size of the individual transactions prevents a higher score, but the consistent buying across multiple days is a good sign.

Positives

• A significant shareholder and director, Mink Brook Asset Management LLC, has increased its stake in DLH Holdings Corp., signaling confidence in the company's future prospects.
• The purchases were made in the open market, indicating a direct investment decision.
• The continued accumulation of shares by a 10% owner suggests a long-term commitment to the company.

Negatives

• The individual transaction sizes (90, 416, 964 shares) are relatively small, which might limit the immediate market impact.
• The prices paid for the shares show a slight decrease over the three days ($5.00 to $4.9746), though this is a minor fluctuation.

Industry Context

This Form 4 filing reflects an internal transaction by a significant shareholder and director, and does not directly provide broader industry trends or context. It indicates an investment decision specific to DLH Holdings Corp.

Related Party Transactions

• Mink Brook Asset Management LLC, as an investment manager for Mink Brook Partners LP and Mink Brook Opportunity Fund LP, is reporting transactions on behalf of these funds. While these are indirect holdings, the reporting person disclaims beneficial ownership except to the extent of its pecuniary interest.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive signal, potentially boosting investor confidence.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates

Recommendation

Keywords

DLH Holdings Corp., DLHC, Mink Brook Asset Management LLC, Insider Buying, Form 4, SEC Filing, Share Purchase, Beneficial Ownership, Investment Management, Equity Acquisition