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 Sept. 28 through Oct. 4, 2023. Source: VerityData
Increases in Holdings
Soleno Therapeutics
(SLNO)
Perceptive Advisors lifted its position in the clinical-stage pharmaceutical firm to 3,074,542 shares. On Sept. 26, Perceptive purchased 616,789 Soleno shares at prices ranging from $7.65 to $21.00 each. Perceptive bought another 250,000 shares of the pharma company priced at $20.00 apiece through a Sept. 28 offering.
Along with the common stock, Solena offered prefunded warrants, and Perceptive purchased 250,000 of them. Both of those transactions closed on Oct. 2. Excluding the warrants, Perceptive owns 23.7% of Soleno’s outstanding stock. The warrants can only be exercised if Perceptive’s Soleno stake stands at 9.9% or less.
Mastercraft Boat
Holdings (MCFT)
Coliseum Capital raised its interest in the powerboat manufacturer to 2,001,411 shares. Coliseum Capital bought 284,437 Mastercraft Boat shares from Sept. 26 through Sept. 28 at prices ranging from $20.90 to $22.25 each. Coliseum now holds almost 11.6% of Mastercraft Boat’s tradable stock which has lost roughly 15% of its value this year. Shares dove in late August when Mastercraft Boat provided disappointing guidance.
CEO Fred Brightbill said on a conference call with analysts that if the worst of the retail slowdown was over, then there would be upside for Mastercraft Boat’s outlook.
Decreases in Holdings
Xerox Holdings
(XRX)
Icahn
Capital eliminated its position in the imaging-technology company. On Sept. 28, Xerox Holdings agreed to buy Icahn Capital’s entire stake of 34,245,314 shares at $15.84 apiece, the closing price of Xerox’s stock on Sept. 27.
Concurrently, Icahn board representatives Jesse Lynn and Steven Miller, and independent director James Nelson, resigned from Xerox’s board. An April 2021 support agreement between Xerox and Icahn has been terminated, though standstill provisions will remain in effect until 30 days after the 2025 shareholders meeting. Xerox stock has a year-to-date gain of about 5%. Adjusted profit for the second quarter, reported in July, topped analyst expectations; Xerox stock jumped after the report.
Archrock
(AROC)
Old Ocean Reserves cut its stake in the natural-gas midstream company to 10,472,456 shares. Old Ocean Reserves sold 600,000 shares of Archrock from Aug. 23 to Aug. 30 at per-share prices ranging from $12.50 to $12.99.
Old Ocean Reserves then followed with a block trade sale of 2,000,000 Archrock shares on Sept. 28 at a price of $12.72 each. Old Ocean Reserves now holds 6.7% of Archrock’s outstanding stock. Old Ocean Reserves is a limited partnership, with Hildebrand Enterprises acting as its general partner. Hildebrand was formed by Hilcorp Energy founder Jeffery Hildebrand.
As for Archrock stock, it has risen nearly 35% year to date.
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