Carl Icahn Slashes Stake in Occidental Petroleum
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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 Feb. 24 through March 2, 2022. Source: InsiderScore.com
Activist Holdings
LivePerson
(LPSN)
Starboard Value disclosed the ownership of 7,005,000 shares of the mobile-messaging company, equal to 9.7% of the outstanding stock. On Feb. 25, Starboard Value submitted three nominees for election to LivePerson’s board at its coming 2022 annual shareholders meeting. That announcement followed LivePerson’s after-the-close earnings release on Feb. 24. The tech firm guided second-quarter and full-year 2022 revenue below estimates, spurring a selloff that erased roughly a third of LivePerson’s market value by the next day. The shares have since rebounded in the face of multiple downgrades from
J.P. Morgan
,
B. Riley Securities, Cantor Fitzgerald, and others.
Increases In Holdings
Cytek Biosciences
(CTKB)
RA Capital raised its interest in the cell-analysis equipment maker to 11,082,163 shares. RA Capital bought 1,475,135 Cytek Biosciences shares from Feb. 14 through Feb. 28 at prices ranging from $12.97 to $14.99. RA Capital now holds an 8.3% interest in the biotech. Principal Tess Cameron represents RA Capital on Cytek Biosciences’ board.
Amicus Therapeutics
(FOLD)
Perceptive Advisors lifted its position in the biopharmaceutical company to 27,356,043 shares. Perceptive purchased 787,498 and 208,904 Amicus Therapeutics shares on Feb. 28 and March 1, respectively, at prices ranging from $7.96 to $8.41. Perceptive now owns a 9.7% interest in Amicus. Last month, Amicus and special-purpose acquisition company
ARYA Sciences Acquisition
Corp
IV mutually agreed to terminate a business combination that would have created a new Amicus spinoff biotech, Caritas Therapies. Going forward, Perceptive will now report under a schedule 13G, as a passive investor. It also “intends to further purchase” Amicus shares, but there is no obligation for Perceptive to do so.
Decreases In Holdings
Occidental Petroleum
(OXY)
Carl Icahn’s Icahn Capital cut its interest in the oil-and-gas explorer by nearly a third, to 32,586,486 shares. Icahn Capital sold 26,941,467 Occidental Petroleum shares from Feb. 28 through March 2 at prices ranging from $41.84 to $48.34. Also on Feb. 28, Icahn Capital sold 476,719 Occidental Petroleum warrants, exercisable at $22, at a price of $22.10 apiece. No reason was given for the divestments, which leave Icahn Capital with a 3.4% stake in Occidental.
Because Icahn Capital is no longer a 5% holder of the company, it isn’t required to report future sales that don’t make it reach that level. Energy stocks have surged on higher commodity prices, and Occidental shares have jumped more than 60% in 2022.
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