market folly

Per a 13D filed with the SEC, Jeffrey Smith's activist fund Starboard Value has disclosed an 8.2% ownership stake in Brink's (BCO) with 3.97 million shares.

This is a newly revealed position as they did not own any shares at the end of 2014.  The filing shows Starboard was out buying BCO shares throughout March and April at prices largely between $26 and $29.

The 13D filing contains the standard activist boilerplate stating that Starboard thinks shares are an attractive investment opportunity and might engagement management in the future.

Per Google Finance, Brinks is "a provider of secure logistics and security solutions services ATM replenishment and maintenance, secure international transportation of valuables and cash management services, to financial institutions, retailers, government agencies including central banks, mints, jewelers and other commercial operations around the world."