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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. 13 through Feb. 19. Source: InsiderScore.com
Activist Holdings
Berry Global Group
(BERY)
Canyon Capital Advisors disclosed on Feb. 25 that it held 9,315,000 shares of the packaging firm, about 7% of the tradable stock. That stake accounts for the purchase of 1,595,189 shares from Jan. 10 to Feb. 21 at prices of $42.09 to $48.38. On Feb. 23, Canyon wrote that it appreciated management’s “efforts to consistently grow margins and cash flow in the course of integrating new businesses.” Canyon feels it is time for Berry to “optimize its portfolio” by selling noncore assets. Canyon also urges Berry to do more to “get in front of ESG trends and correct market misperceptions about the sustainability of its products.” Canyon continued, “ESG ratings should be a high priority…but [Berry ] appears to be behind the rest of the market in this respect.”
Increases in Holdings
Tivity Health
(TVTY)
Hudson Executive Capital lifted its interest in the fitness and lifestyle firm to 4,377,655 shares, equal to 9.1% of the outstanding stock. Hudson Executive bought a total of 1,596,000 shares on Feb. 20 and 21 at prices of $11.69 to $14 apiece. No reason was cited for the fresh investments.
Decreases in Holdings
Twin River Worldwide Holdings
(TRWH)
Standard General revealed that it sold 512,047 shares of the casino and gambling stock through a block trade sale on Feb. 18 at a price of $28.34 per share. Standard General disclosed that the sale was necessary so as not to violate Rhode Island law that limits a single shareholder’s interest in public gambling stocks to no more than 39%. Standard General noted that Twin River repurchased stock during the second half of 2019 and announced a $100 million increase to its buyback program earlier this month. Given that, General Standard chose to sell to remain compliant with Rhode Island regulations, and it now holds 11,745,913 shares of Twin River, equal to 37.1% of the tradable stock.
BlueLinx Holdings
(BXC)
Coliseum Capital Management slashed its holding of the home-building-products distributor by nearly 41%. On Feb. 20 and 21, Coliseum Capital sold 354,600 shares at prices ranging from $15 to $20.13 each, leaving it with 518,667 shares, equal to 5.5% of the outstanding stock.
Chipotle Mexican Grill
(CMG)
Pershing Square reduced its holding of the casual-dining chain “for portfolio-management purposes.” On Feb. 24, Pershing sold 347,700 shares, 330,000 of which were moved through a block trade sale at $880.50 per share. The remaining 17,700 shares were sold on the open market at $893.42 apiece. Pershing now holds a 4.2% stake in Chipotle, equal to 1,161,232 shares.
