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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 Feb. 27 through March 4, 2020 Source: InsiderScore.com
Increases in Holdings
Dave & Buster’s Entertainment
(PLAY)
Kohlberg Kravis Roberts (ticker: KKR) increased its stake in the casual-dining and entertainment chain to 2,525,800 shares. KKR added 587,324 shares from Feb. 26 to March 3 at per share prices ranging from $29.93 to $37.34. KKR noted that it had entered into a derivative agreement with a third party in the form of cash-settled forward contracts, which adds exposure to 1,345,493 additional Dave & Buster’s shares. Including those contracts and the open-market stock purchases, KKR holds an overall interest in Dave & Buster’s of 12.7%.
International Flavors & Fragrances
(IFF)
Winder Investment increased its stake in the ingredient and additives company to 22,665,059 shares, inclusive of 927,193 tied to purchase contracts. It now holds 21% of the tradable stock. Winder’s investment includes 927,193 common shares covered by purchase contracts. From Dec. 27 to Feb. 25, Winder bought 1,343,809 shares at prices ranging from $122.10 to $140 apiece, citing no specifics for the fresh investment. In December 2019, International Flavors & Fragrances agreed to merge with
DuPont’s
(DD) Nutrition and Biosciences unit, a segment valued at approximately $26.2 billion.
Trinity Industries
(TRN)
ValueAct Capital lifted its interest in the transportation and construction firm to 22.4%. ValueAct bought a total of 1,219,113 shares from Jan. 29 to March 3 at prices ranging from $20.41 to $21 each. The fresh investment followed the previously disclosed purchase of 723,509 shares in January, and now gives ValueAct a total stake of 26,832,620 shares.
Decreases in Holdings
Alector
(ALEC)
OrbiMed Advisors revealed a smaller investment in the clinical-stage biopharmaceutical company of 8,716,344 shares. Without citing a reason, OrbiMed disclosed it sold 1,891,000 Alector shares, nearly 18% of its holdings, on March 2 through a block trade executed at $26 apiece. It now owns 11.1% of Alector’s outstanding stock.
Instructure
(INST)
Praesidium Investment Management revealed a reduced interest of 5.7% in the cloud-based education and professional-development services firm. Praesidium sold 686,263 Instructure shares from Feb. 24 through Feb. 26 at an average per share price of $48.76, leaving Praesidium with 2,179,261 shares.
Thoma Bravo had approached Instructure in December with an offer to acquire the firm for $47.60 per share in cash. Instructure’s board rejected that offer, but approved Thoma Bravo’s revised proposal, a “best and final offer” that was disclosed Feb. 14, that bumped up the offer to $49 a share. The revised tender offer for Instructure shares expires at the end of March 20, unless extended or terminated.
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