SCHEDULE: Kornitzer Capital Management Discloses 6.5% Passive Stake in Landmark Bancorp Inc.

Kornitzer Capital Management, Inc. has disclosed a 6.5% passive ownership stake in Landmark Bancorp Inc., holding 376,571 shares of common stock.

Summary

• Kornitzer Capital Management, Inc. (KCM) has filed an Amendment No. 9 to Schedule 13G regarding its beneficial ownership in Landmark Bancorp Inc.
• KCM beneficially owns 376,571 shares of Landmark Bancorp Inc. common stock.
• This ownership represents 6.5% of the total class of securities.
• KCM holds sole voting power over all 376,571 shares.
• KCM holds shared dispositive power over 120,364 shares.
• The filing certifies that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Landmark Bancorp Inc.
• KCM operates as an investment advisor, holding these shares for the accounts of other persons who retain the right to receive dividends or proceeds from the sale of the securities.

Sentiment

Score: 7

Explanation: The disclosure of a significant passive stake by a reputable institutional investor is generally a positive signal, indicating confidence in the company, even though the filing itself does not provide operational or financial updates.

Positives

• A significant institutional investor, Kornitzer Capital Management, holds a 6.5% stake, which can be interpreted as a vote of confidence in Landmark Bancorp Inc.
• The filing explicitly states the investment is for passive purposes, indicating no immediate intent for activist intervention or control changes, which can provide stability.

Risks

• This document, being an ownership disclosure, does not detail specific operational or financial risks pertaining to Landmark Bancorp Inc. beyond the inherent market risks associated with holding equity.

Future Outlook

This document, a beneficial ownership disclosure, does not provide any forward-looking statements or guidance from Landmark Bancorp Inc.'s management.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

This filing highlights continued institutional investor interest in the financial services sector, particularly in regional banking institutions like Landmark Bancorp Inc. It reflects a common passive investment strategy employed by investment advisory firms such as Kornitzer Capital Management.

Comparison to Industry Standards

• A 6.5% stake by an institutional investor is a significant position, aligning with typical passive investment thresholds for Schedule 13G filings in the financial industry.
• Kornitzer Capital Management's role as an investment advisor holding shares for various client accounts is a standard operational model within the asset management industry.
• The filing adheres to the regulatory requirements for beneficial ownership disclosure under SEC rules, which is a standard practice for investors crossing the 5% ownership threshold.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder, which may be viewed positively as a vote of confidence in the company's long-term prospects.

Next Steps

• Kornitzer Capital Management will be required to file amendments to this Schedule 13G if there are material changes to its beneficial ownership or investment intent in Landmark Bancorp Inc.

Key Dates

Recommendation

Keywords

Landmark Bancorp Inc, Kornitzer Capital Management, Schedule 13G, Common Stock, Institutional Ownership, Passive Investment, Bank, Financial Services, SEC Filing