SCHEDULE 13G/A: M3 Funds and Affiliates Disclose Significant Stake in Magyar Bancorp, Holding Over 6.5% of Common Stock

M3 Funds, LLC, along with its affiliates M3 Partners, LP, M3F, Inc., and individuals Jason A. Stock and William C. Waller, have collectively reported beneficial ownership of over 6.5% of Magyar Bancorp Inc.'s common stock as of December 31, 2024.

Summary

• M3 Funds, LLC, M3 Partners, LP, M3F, Inc., Jason A. Stock, and William C. Waller have filed an amended Schedule 13G, disclosing their beneficial ownership in Magyar Bancorp Inc. (CUSIP: 55977T208).
• As of December 31, 2024, M3 Funds, LLC, M3 Partners, LP, and M3F, Inc. each beneficially own 433,289 shares of Magyar Bancorp Inc. common stock, representing 6.51% of the class.
• Jason A. Stock beneficially owns a total of 444,893 shares, comprising 11,604 shares with sole voting and dispositive power, and 433,289 shares with shared voting and dispositive power, amounting to 6.68% of the class.
• William C. Waller beneficially owns a total of 439,139 shares, comprising 5,850 shares with sole voting and dispositive power, and 433,289 shares with shared voting and dispositive power, amounting to 6.6% of the class.
• The 433,289 shared shares are primarily held directly by M3 Partners, L.P., with M3 Funds, LLC acting as its general partner and M3F, Inc. as its investment adviser.
• Jason A. Stock and William C. Waller are the managers of M3 Funds, LLC and managing directors of M3F, Inc., and also hold personal stakes in Magyar Bancorp Inc.
• The filing certifies that the securities were not acquired or held for the purpose of changing or influencing control of the issuer, except for activities solely related to a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: This is a routine beneficial ownership disclosure (Schedule 13G) and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or outlook. It merely reports a significant ownership stake.

Future Outlook

NA

Management Comments

• The securities referred to above 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

NA

Stakeholder Impact

• Shareholders: Disclosure of significant institutional ownership provides transparency regarding the shareholder base and the identity of large investors.

Key Dates

Keywords

Magyar Bancorp Inc., Common Stock, Schedule 13G, Beneficial Ownership, M3 Funds LLC, M3 Partners LP, M3F Inc., Jason A. Stock, William C. Waller, SEC Filing, Institutional Ownership