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 March 25 through March 31, 2021. Source: InsiderScore.com
Increases in Holdings
Clear Channel Outdoor Holdings (CCO)
Ares Management lifted its stake in the outdoor-advertising firm to 41,499,772 shares. That figure includes the purchase of 4,500,000 Clear Channel Outdoor shares from Jan. 21 through March 25 at prices ranging from $1.84 to $2.25 each. No reason was given for the additions that now give Ares Management an 8.9% holding in Clear Channel Outdoor’s tradable stock. Ares Management had bought 1,470,000 Clear Channel Outdoors shares from Dec. 2 through Jan. 20 at prices ranging from $1.49 to $1.75 apiece.
Decreases in Holdings
Babcock & Wilcox Enterprises (BW)
Vintage Capital reported that it essentially exited its position in the environmental and renewable-energy services company. On March 25, Vintage Capital sold 10,720,785 Babcock & Wilson shares directly to B. Riley Financial (RILY) at $6.04 each per a share purchase agreement. No reason was provided for the divestment that leaves Vintage with a mere 64,429 Babcock & Wilson shares, less than 0.1% of the outstanding stock. For its part, B. Riley now holds a 33.7% interest in Babcock & Wilcox, including shares underlying warrants. In mid-February, B. Riley Securities issued a Buy rating on Babcock & Wilcox with a related $12 price target, noting the firm’s “greatly improved balance sheet” and a focus “on environmental regulations and renewable-energy sources.”
Tenet Healthcare (THC)
Glenview Capital reduced its holding of the health-care facilities operator to 13,725,320 shares. Without citing a reason, Glenview Capital sold 2,500,000 Tenet shares through a block trade sale at $53.30 per share on March 22. Following the sale, Glenview currently holds nearly 12.9% of the outstanding stock. In early February, Glenview sold a total of 2,033,490 Tenet shares at prices ranging from $48.50 to $51.90 each.
I-Mab (IMAB)
Hillhouse Capital Advisors lowered its position in the clinical-stage biopharmaceutical firm to 19,050,560 ordinary shares. That figure includes 3,833,364 shares that underlie exercisable warrants and call options. Hillhouse Capital sold 1,496,540 I-Mab American depositary receipts (3,442,042 ordinary shares) on March 23 at $50.20 each. Hillhouse now owns a 11.3% interest in I-Mab.
Graybug Vision (GRAY)
OrbiMed Advisors disclosed that it reduced its stake in the vision therapies biopharmaceutical to 4,163,347 shares. An affiliated subsidiary that advises an England-based investment trust owns an additional 73,500 Graybug Vision shares. OrbiMed sold 239,000 Graybug shares from Feb. 19 to March 25 at prices from $6.17 to $25.34 each. OrbiMed and its subsidiary now holds 20.2% of Graybug’s outstanding stock.
Email: [email protected]
