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 May 23 through May 29, 2024. Source: VerityData (verityplatform.com)
Activist Holdings
Gildan Activewear
Browning West increased its stake in the apparel maker to 9,617,135 shares. Browning West purchased 976,687 Gildan Activewear shares from May 10 through May 17 at prices ranging from $33.48 to $35.64 each. In December 2023, Browning West had called for the reinstatement of former Gildan CEO and co-founder Glenn Chamandy, along with a reconstituted Gildan board. In May, Browning West announced Chamandy's reinstatement, and that Gildan's entire board was replaced with Browning West's slate. Browning West now owns 5.7% of Gildan's outstanding stock. Shares have gained 15% year to date.
Increases in Holdings
Fortrea Holdings
Starboard Value increased its stake in the contract clinical-research company to 7,595,000 shares. Starboard did so through the purchase of 2,293,000 Fortrea Holdings shares from May 6 through May 28 at prices ranging from $25.30 to $36.27 each. Following the latest purchases, Starboard now owns 8.5% of Fortrea's outstanding stock. Shares have lost roughly 26.9% year to date.
Fund 1 Investments increased its stake in the apparel retailer to 2,119,019 shares. Fund 1 did so through the purchase of 132,952 Citi Trends shares from May 6 through May 23 at prices ranging from $22.07 to $24.21 apiece. Following the latest purchases, Fund 1 now owns 24.8% of Citi Trends' outstanding stock. Shares have lost roughly 16.8% year to date.
Decreases in Holdings
Millstreet Capital Management reduced its stake in the provider of software and hardware services to 6,027,361 shares. Millstreet Capital did so through the sale of 450,000 Diebold Nixdorf shares in an open-market transaction on May 23 for $42.50 per share. Following the sale, Millstreet Capital continues to own 16% of Diebold Nixdorf's outstanding stock. Shares have gained roughly 53.4% during the year.
Telesat
Gamco Investors lowered its stake in the global satellite operator to 3,218,063 shares. Gamco did so through the net sale of 150,126 Telesat shares from March 26 through May 22 at prices ranging from $7 to $9.25 each. Following the sales, Gamco continues to own 23.6% of Telesat's outstanding stock. Shares have lost 4.5% during the year.
Overseas Shipholding Group
Cyrus Capital Partners slashed its stake in the tanker company to 160,696 shares. Cyrus sold 4,103,391 Overseas Shipholding Group shares on May 22 for $8.43 apiece. Cyrus now owns a 0.2% stake, which is below the 5% threshold that would require Cyrus to report further Overseas Shipholding Group stock sales. Shares have gained 64.5% year to date.
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(END) Dow Jones Newswires
May 31, 2024 16:45 ET (20:45 GMT)
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