Following up last week's 13D filing on Green Dot, Starboard Value and its affiliates have taken a 7.5% stake in medical solutions company MEDNAX, Inc.(NYSE: MD).
Starboard included the following language in the "Purpose of Transaction" section of the 13D filing: "The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity." According to the 13D filing, Starboard's average purchase price thus far has been ~$25.25 per share. Sign up to get free 13D Filing alerts, new filter options available. Disclaimer: Information provided here or in email alerts does not constitute investment advice nor an offer to sell securities. The information provided is for research purposely only and we do not take any responsibility for any loss or damage including and without limitation to any loss which may arise directly or indirectly from use of or reliance on such information. The writer of this article does not at the time of writing have a position in MD, but may potentially purchase or dispose of shares pending further analysis and market conditions.
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Today Pershing Square Capital Management filed an amended 13D disclosing:
“On February 6, 2020 and February 7, 2020, the Reporting Persons on behalf of the Pershing Square Funds sold Common Stock for portfolio management purposes in open market transactions.” Link to the filing here. Activist target Forescout Technologies (NASDAQ: FSCT) shot up 20% on Thursday following news that it entered into an agreement with private equity firm Advent International to be acquired for $33.00 per share.
On October 21, 2019 activist hedge fund Corvex Management run by Carl Icahn protégé Keith Meister filed a 13D Filing disclosing a 7.2% stake in the FSCT. Corvex invested alongside Jericho Capital. Based on the initial 13D filing, Corvex’s average purchase price for FSCT was ~$30.13 per share. On the day of the public filing FSCT closed at $28.70. On Feb 6, 2020, the day of the acquisition announcement the stock shot up and closed at $33.28 per share – an annualized increase of 54%. You can sign up here to receive email alerts as soon as 13D filings are made. Disclaimer: Information provided here or in email alerts does not constitute investment advice nor an offer to sell securities. The information provided is for research purposely only and we do not take any responsibility for any loss or damage including and without limitation to any loss which may arise directly or indirectly from use of or reliance on such information. The writer of this article previously had a position in FSCT, but at the time of writing is message no longer holds any positions in FSCT. The writer may or may not potentially purchase shares pending further analysis and market conditions. Starboard Value and its affiliates has taken a 9.3% stake in fin tech company Green Dot Corporation (NASDAQ: GDOT).
Starboard included the following language in the "Purpose of Transaction" section of the 13D filing: The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. According to the 13D filing, Starboard's average purchase price thus far has been ~$26.4 per share. Disclaimer: Information provided here or in email alerts does not constitute investment advice nor an offer to sell securities. The information provided is for research purposely only and we do not take any responsibility for any loss or damage including and without limitation to any loss which may arise directly or indirectly from use of or reliance on such information. The writer of this article does not at the time of writing have a position in GDOT, but may potentially purchase or dispose of shares pending further analysis and market conditions. |
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