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, 10 through Feb. 16, 2022. Source: InsiderScore.com, a Verity company.
Original Filings
US Ecology (ECOL)
Magnetar Capital disclosed a new investment in the provider of waste-management services of 2,060,731 shares. Magnetar Capital bought all of those shares from Feb. 9 through Feb. 11 at prices ranging from $46.98 to $47.75 apiece. Republic Services (RSG) announced on Feb. 9 that it will acquire US Ecology for $48 per share in cash, a deal valued at $2.2 billion. Magnetar Capital’s US Ecology investment is a merger arbitrage strategy that allows Magnetar Capital to earn a small premium if the acquisition closes.
Increases in Holdings
Incyte (INCY)
Baker Bros. Advisors increased its stake in the biopharmaceutical company to 35,216,618 shares. That stake includes 137,986 shares underlying options plus 2,802 restricted shares held by Barker Bros. co-founder Julian Baker, who serves on Incyte’s board. Baker Bros. purchased 2,691,041 Incyte shares at prices of $66.43 to $72.98 each from Dec. 15, 2021 through Feb. 11. Baker Bros. interest in Incyte now stands at 15.9%.
Sierra Oncology (SRRA)
Abingworth raised its interest in the biopharmaceutical company to 2,193,626 shares, including 871,125 underlying warrants and 8,374 tied to options exercisable within 60 days. On Jan. 31, Abingworth bought 150,000 Sierra Oncology shares through an offering that priced those shares at $27 each. Abingworth now holds 11.3% of Sierra Oncology’s tradable stock.
Consumer Portfolio Services
(CPSS)
Black Diamond Capital Management lifted its holding in the specialty finance company to 4,564,234 shares. That figure accounts for the purchase of 298,623 Consumer Portfolio shares on Feb. 11 and Feb. 14 at prices ranging from $9.95 to $10.75 per share. Black Diamond Capital now has a 21.7% interest in Consumer Portfolio.
Decreases in Holdings
SLM (SLM)
ValueAct Capital reduced its position in the private-education loan-services firm to 14,501,031 shares. Without citing a reason, ValueAct sold 1,100,000 SLM shares from Dec. 16, 2021, through Feb. 14 at per share prices ranging from $19 through $19.71. ValueAct now holds 4.9% of SLM’s outstanding stock. Any future SLM sales will not require disclosure, as ValueAct’s SLM stake is less than the regulatory threshold of 5%.
Forward Air (FWRD)
Ancora Holdings lowered its holding of the freight-and-logistics firm to 1,401,091 shares. Ancora Holdings sold 88,263 Forward Air shares from Dec. 28, 2021, through Feb. 14 at prices ranging from $100.42 to $120.14 apiece. Ancora Holdings now has a 5.2% interest in Forward Air.
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