These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Nov. 30 through Dec. 6, 2023. Source: VerityData
Decreases in Holdings
Peabody Energy
Elliott Management cut its interest in the coal producer to 17,950,000 shares. Without citing a reason, Elliott sold 3,159,807 Peabody Energy shares from Nov. 15 through Dec. 1 at per share prices ranging from $23.29 to $24.56. In mid-September 2021, Elliott held a nearly 24% interest in Peabody Energy.
Since then, and including the most recent trades, Elliott has whittled its Peabody Energy stake to 13.7%. Peabody Energy shares have slipped about 10% so far this year. Peabody Energy repurchased nearly 10% of its outstanding stock so far this year, while having a remaining $706 million on a $1 billion buyback authorization initiated in August.
Bumble
Blackstone Group
lowered its stake in the online-dating platform to 58,583,187 shares. Bumble repurchased 4,012,101 Class A shares, and 3,192,146 limited partnership interests, convertible into Bumble stock on a one-for-one basis, at $13.88 apiece. The $100 million privately negotiated buyback closed on Dec. 7, and leaves Blackstone owning 36.9% of Bumble’s outstanding stock.
Bumble founder Whitney Wolfe Herd will step down as CEO at the start of 2024 to become executive chair. Lidiane Jones, CEO of
Salesforce
subsidiary Slack, was chosen as Herd’s successor. Jones is a tech-industry veteran who worked for
Microsoft
for more than a decade.
Bumble went public in February 2021, and saw its stock trading at more than $70 per share on opening day. It has since fallen to about $14.
Gulfport Energy
Hedge fund Silver Point Capital trimmed its position in the oil-and-gas explorer to 7,919,367 shares, including 1,695,929 shares underlying preferred stock. Gulfport Energy repurchased 146,455 of its shares from Silver Point on Dec. 4 at a price of $136.56 apiece. The transaction had little impact on Silver Point’s stake, which stands at 39%, and the hedge fund remains Gulfport Energy’s largest shareholder.
Star Bulk Carriers
Oaktree Capital cut its holding in the shipping and logistics company to 6,107,983 following a private repurchase by Star Bulk Carriers. The shipping company and Oaktree entered into a repurchase agreement on Oct. 30 that closed on Dec. 1, when Star Bulk Carriers bought back 10 million shares for $19.50 each. Oaktree now owns a 7.4% interest in Star Bulk Carriers.
SpringWorks Therapeutics
OrbiMed Advisors reduced its stake in the clinical-stage biopharmaceutical firm to 3,567,159 shares. On Nov. 28 and Nov. 30, OrbiMed sold 401,429
SpringWorks Therapeutics
shares at prices ranging from $24.89 to $32.31 each.
Following the fresh sales, OrbiMed holds 4.9% of SpringWorks’ outstanding stock, below the 5% threshold that would require any further public disclosure of SpringWorks stock sales. SpringWorks, which is focused on severe rare diseases and cancer, just priced an offering of 9.5 million shares at $29 each.
Email: [email protected]
Read the full article here