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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 July 9 through July 15, 2020. Source: InsiderScore.com
Activist Holdings
Mednax
(MD)
Starboard Value increased its position in the pediatric and neonatal health-services firm to 8,450,000 shares. That figure accounts for Starboard’s purchase of 247,000 Mednax shares on May 15 at per share prices of $13.42 through $13.50. On July 12, Starboard revealed that it had reached an agreement with Mednax to revamp the company’s board. Specifically, six longstanding Mednax directors, including CEO Roger Medel, have agreed to step down and be replaced by five Starboard representatives. In addition, Starboard will appoint partner Gavin Molinelli as a Mednax board observer during a standstill period that will last into next year.
Original Filings
Accolade
(ACCD)
Carrick Management Partners disclosed an initial investment of 3,508,278 shares in the workplace health-benefits manager. Carrick’s entire position resulted from the conversion of convertible preferred securities into Accolade common stock after the closing of Accolade’s initial public offering on July 7 that priced shares at $22 each. Carrick disclosed that its co-founder and managing director, Jim Madden, sits on Accolade’s board. Carrick presently holds 7.2% of Accolade’s outstanding shares.
Increases in Holdings
Pearson
(PSO)
Cevian Capital added 12,226,806 ordinary shares to its stake in the education and professional-development company. Cevian purchased Pearson’s ordinary stock from June 25 through July 14 at per share prices ranging from $7.02 to $7.28. Cevian gave no reason for the additions and now holds 52,850,047 Pearson shares, equal to slightly more than 7% of the outstanding stock.
Avid Technology
(AVID)
Impactive Capital raised its holdings in the digital-media platform provider to 6,881,793 Avid Technology shares, including 16,381 restricted shares that will vest in less than 60 days. Impactive added 483,922 Avid shares to its stake, buying at prices from $6.89 to $7.46 apiece during the span of June 2 through July 10. Impactive has steadily bought Avid stock since disclosing an initial 8.5% interest near the end of August 2019, and now owns 15.7% of Avid’s tradable stock after its latest purchases.
Decreases in Holdings
Medifast
(MED)
Engaged Capital revealed a lower position in the health and nutrition company, and now owns 580,020 Medifast shares. Without providing a reason, Engaged sold 104,503 Medifast shares on July 13 at prices ranging from $152 to $153.93 apiece. Engaged now owns 4.9% of Medifast’s tradable stock.
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