UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
PENN TREATY AMERICAN CORPORATION
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
707874103
(CUSIP Number)
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Alan S. Parsow |
with a copy to |
David L. Hefflinger |
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Elkhorn Partners Limited Partnership |
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Jason D. Benson |
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2222 Skyline Drive |
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McGrath North Mullin & Kratz, PC LLO |
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Elkhorn, NE 68022 |
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Suite 3700 First National Tower |
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(402) 289-3217 |
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Omaha, NE 68102 |
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(402) 341-3070 |
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 17, 2007
(Date of Event which Required Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following box o.
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.
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CUSIP NO. 707874103 |
13D |
Page 2 of 3 Pages |
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1. |
Name of Reporting Person |
SS or IRS Identification Number of Above Person
Elkhorn Partners Limited Partnership / 47-0721875
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2. |
Check the Appropriate Box if a Member of a Group |
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/X/ |
(a) |
/ / |
(b) |
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3. |
SEC Use Only |
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4. |
Source of Funds |
WC
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5. |
Check Box if Disclosure of Legal Proceedings is Required |
Pursuant to Items 2(d) or 2(e)
/ /
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6. |
Citizenship or Place of Organization |
Nebraska
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7. Sole Voting Power |
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Number of |
1,935,600 Shares |
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Shares |
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Beneficially |
8. Shared Voting Power |
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Owned by |
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Reporting |
0 |
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Person |
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With |
9. Sole Dispositive Power |
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1,935,600 Shares |
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10. Shared Dispositive Power |
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0 |
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11. |
Aggregate Amount Beneficially Owned by Each Reporting Person |
1,935,600 Shares
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12. |
Check Box if Aggregate Amount in Row 11 Excludes Certain |
Shares
/ /
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13. |
Percent of Class Represented by Amount in Row 11 |
Approximately 8.3% of voting securities
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14. |
Type of Reporting Person |
PN
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CUSIP NO. 707874103 |
13D |
Page 3 of 3 Pages |
Elkhorn Partners Limited Partnership (the “Partnership”) makes this filing to amend certain information previously reported by the Partnership. This filing constitutes Amendment No. 3 to the Schedule 13D of the Partnership. The Partnership amends such prior Schedule 13D reports with respect to the common stock of Penn Treaty American Corporation (“Penn Treaty”) by adding the following information to the item indicated:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a)(b) As of July 10, 2007, the Partnership owns 1,935,600 shares of Penn Treaty common stock. The Penn Treaty Form 10-K for the year ended December 31, 2005 reported that there were outstanding 23,290,688 shares of Penn Treaty common stock as of March 22, 2007. Based on this number, the Partnership owns approximately 8.3% of the Penn Treaty common stock.
(c) Since February 16, 2007, the Partnership purchased 167,600 shares of Penn Treaty common stock, in open market transactions, at prices ranging from $5.47 to $7.74 per share.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct.
DATED: July 10, 2007
Elkhorn Partners Limited Partnership
By: Parsow Management LLC, General Partner
By: /s/ Alan S. Parsow
Alan S. Parsow
Sole Manager