Sept. 28 – Oct. 4, 2023
Increases in Holdings
Soleno Therapeutics (SLNO)
Investment firm Perceptive Advisors has increased its position in Soleno Therapeutics to 3,074,542 shares. In September, Perceptive purchased 616,789 Soleno shares at prices ranging from $7.65 to $21.00 per share. Additionally, through a September 28 offering, they acquired another 250,000 shares of the pharmaceutical company at a price of $20.00 each.
Along with common stock, Soleno also offered prefunded warrants. Perceptive purchased 250,000 of these warrants, and both transactions closed on October 2. Excluding the warrants, Perceptive now owns 23.7% of Soleno’s outstanding stock. It is important to note that the warrants can only be exercised if Perceptive’s stake in Soleno remains at 9.9% or less.
Mastercraft Boat Holdings (MCFT)
Powerboat manufacturer Mastercraft Boat Holdings has seen an increase in interest from Coliseum Capital, which now holds 2,001,411 shares. Coliseum Capital acquired 284,437 Mastercraft Boat shares from September 26 to September 28 at prices ranging from $20.90 to $22.25 per share. Currently, Coliseum holds approximately 11.6% of Mastercraft Boat’s tradable stock.
It is worth mentioning that the company’s stock has declined by around 15% this year, particularly taking a hit after providing disappointing guidance in late August. CEO Fred Brightbill expressed optimism for the company’s outlook during a conference call with analysts, stating that if the worst of the retail slowdown was over, there could be upside potential for Mastercraft Boat.
Decreases in Holdings
Xerox Holdings (XRX)
Icahn Capital has recently eliminated its position in the imaging-technology company, Xerox Holdings. The transaction took place on September 28, when Xerox Holdings agreed to purchase Icahn Capital’s entire stake of 34,245,314 shares at a price of $15.84 per share, which was the closing price of Xerox’s stock on September 27.
Following this, Icahn board representatives Jesse Lynn and Steven Miller, along with independent director James Nelson, have resigned from Xerox’s board. Additionally, the support agreement between Xerox and Icahn, which was established in April 2021, has been terminated. However, standstill provisions will remain in effect until 30 days after the 2025 shareholders meeting. It’s worth noting that Xerox stock has experienced a year-to-date gain of approximately 5%. In the second quarter, the company reported adjusted profit figures that exceeded analyst expectations, resulting in a significant jump in Xerox stock value.
Archrock (AROC)
Old Ocean Reserves has reduced its stake in the natural-gas midstream company, Archrock. The number of shares held by Old Ocean Reserves now stands at 10,472,456. Starting from August 23 to August 30, Old Ocean Reserves sold 600,000 shares of Archrock. These shares were sold at various per-share prices ranging from $12.50 to $12.99.
Subsequently, on September 28, Old Ocean Reserves conducted a block trade sale of 2,000,000 Archrock shares at $12.72 per share. As a result of these transactions, Old Ocean Reserves now holds 6.7% of Archrock’s outstanding stock. It’s important to note that Old Ocean Reserves is a limited partnership and is managed by Hildebrand Enterprises, which was established by Jeffery Hildebrand, the founder of Hilcorp Energy.
Regarding the performance of Archrock stock, it has witnessed a significant year-to-date increase of nearly 35%.
