SCHEDULE 13G/A: MacKay Shields LLC Discloses 7.42% Passive Stake in Forum Energy Technologies
Beneficial Ownership Disclosure
Investment adviser MacKay Shields LLC has filed an amended Schedule 13G, reporting a 7.42% beneficial ownership stake in Forum Energy Technologies, Inc. as of December 31, 2024.
Summary
- MacKay Shields LLC, an investment adviser, beneficially owns 911,294 shares of Common Stock in Forum Energy Technologies, Inc.
- This ownership represents 7.42% of the company's outstanding Common Stock.
- The shares are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
- The percentage ownership is calculated based on 12,283,670 shares of Common Stock outstanding as of December 31, 2024, as disclosed in Forum Energy Technologies, Inc.'s Form 10-Q filed on November 1, 2024.
- The NYLI Mainstay High Yield Corporate Bond Fund, for which MacKay Shields acts as a sub-investment adviser, may be deemed to beneficially own 4.97% of the outstanding common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing (Schedule 13G) disclosing beneficial ownership. It provides factual information without expressing positive or negative sentiment regarding the issuer's performance or outlook.
Positives
- A significant institutional investor, MacKay Shields LLC, maintains a substantial stake in Forum Energy Technologies, Inc., indicating continued institutional interest in the company.
Future Outlook
The document is a Schedule 13G filing, which reports beneficial ownership and does not contain forward-looking statements or guidance from the issuer, Forum Energy Technologies, Inc.
Industry Context
This filing is a routine disclosure of an institutional investment firm's passive stake in an energy technology company. It does not provide specific insights into broader industry trends but indicates continued institutional interest in the sector.
Comparison to Industry Standards
- This document is a beneficial ownership disclosure (Schedule 13G) and does not contain financial or operational results that can be compared to industry standards or specific comparable companies/projects.
Related Party Transactions
- MacKay Shields LLC acts as an investment adviser to various clients, including the NYLI Mainstay High Yield Corporate Bond Fund.
- New York Life Investment Management LLC, an indirect wholly-owned subsidiary of New York Life and an affiliate of MacKay Shields LLC, is the manager of the NYLI Mainstay High Yield Corporate Bond Fund.
- The NYLI Mainstay High Yield Corporate Bond Fund may be deemed to beneficially own 4.97% of the outstanding common stock of Forum Energy Technologies, Inc.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional holder's stake, which can influence market perception and liquidity.
Key Dates
| Date | Description |
|---|---|
| 2024-11-01 | Date Forum Energy Technologies, Inc. filed its Form 10-Q, disclosing total shares outstanding. |
| 2024-12-31 | Date of event which requires filing of this statement (reporting period end date). |
| 2025-01-22 | Date the Schedule 13G Amendment No. 4 was signed by MacKay Shields LLC. |
Keywords
MacKay Shields LLC, Forum Energy Technologies, Schedule 13G, Beneficial Ownership, Common Stock, Investment Adviser, SEC Filing, Institutional Investor, Passive Investment, Energy Technology
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