PBF Energy, Poseida Therapeutics, and More Stocks See Action From Activist Investors -- Barrons.com

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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 Nov. 28 to Dec. 4, 2024. Source: VerityData

Increases in Holdings

PBF Energy (PBF) Carlos Slim increased his holdings in the petroleum refiner to 27,563,498 shares. The Mexican billionaire purchased 1,366,000 PBF Energy shares from Nov. 11 through Nov. 29, 2024, at per share prices ranging from $29.42 to $31.83. Following the latest purchases, Slim owns 23.9% of PBF Energy's outstanding stock. Shares of PBF have lost over a quarter of their value during the year.

Valaris $(VAL)$ Famatown Finance raised its stake in the offshore-drilling company to 6,696,396 shares. Famatown Finance did so through the purchase of 734,274 Valaris shares from Sept. 25 through Nov. 27, 2024, at per share prices ranging from $45.99 to $54.50. Following the latest purchases, Famatown Finance continues to own 9.4% of Valaris' outstanding stock. Shares of Valaris have lost a third of their value this year to date.

Poseida Therapeutics $(PSTX)$ Pentwater Capital Management increased its stake in the clinical-stage biopharmaceutical company to 8,625,000 shares through the purchase of 2,650,000 Poseida shares on Nov. 26, 2024, at prices ranging from $9.21 to $9.46 per share. Following the purchases, Pentwater Capital owns 8.8% of Poseida's outstanding stock. Poseida shares have surged this year, climbing from a close of $3.36 on the last trading day of 2023 to a recent price over $9. In late November, Poseida entered into a merger agreement to be acquired by Roche Holdings at a price of $9 per share, plus a nontradeable contingent value right to receive up to an additional $4 per share in cash.

Decreases in Holdings

SLM $(SLM)$

Impactive Capital lowered its stake in the student lender to 15,407,300 shares. Impactive Capital did so through the sale of 2,192,253 SLM shares from Oct. 2 through Nov. 22, 2024, at per share prices ranging from $22.03 to $26.17. Following the latest sales, Impactive continues to own 7.3% of SLM's outstanding stock. Shares of SLM have gained about 39.6% this year to date.

Universal Technical Institute $(UTI)$ Coliseum Capital Management reduced its stake in the educational institution to 6,850,636 shares. Coliseum Capital did so through the sale of 2,483,579 Universal Technical Institute shares in an open market block trade for $25.10 per share on Dec. 2, 2024. Following those sales, Coliseum continues to own 12.7% of Universal's outstanding stock. Shares have nearly doubled in value this year to date.

Lincoln Educational Services $(LINC)$ Juniper Investment cut its stake in the provider of career-oriented postsecondary education to 3,413,823 shares. Juniper did so through the sale of 273,262 Lincoln shares from Nov. 13 through Dec. 2, 2024, at prices ranging from $15.50 to $16.94 apiece. Following the latest sales, Juniper continues to own 10.8% of Lincoln's outstanding stock. Shares of Lincoln have gained nearly 70% in value during the year.

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December 06, 2024 18:33 ET (23:33 GMT)

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