Anika Therapeutics (ANIK)
Caligan Partners raised its holding in the orthopedic-focused pharmaceutical firm to 1,081,360 shares. Caligan Partners bought 179,274 Anika Therapeutics shares from Aug. 17 through Sept. 8 at prices ranging from $16.54 to $19.05 each. Caligan Partners now holds 7.4% of Anika Therapeutics’ tradable stock.
In April, Caligan Partners and Anika Therapeutics entered a cooperation agreement that increased the size of the pharmaceutical’s board to eight from seven to accommodate the appointment of Gary Fishetti as an independent director.
Coliseum Capital lifted its interest in the nonemergency health-services company to 2,652,535 shares, a stake of 18.7%. In early May, Coliseum Capital reported ownership of 1.6 million ModivCare shares, an 11% stake in the company at the time.
Coliseum’s Investment Strategy Pays Off
Coliseum, a prominent investment firm, has been steadily increasing its position in ModivCare, a health-services stock that recently experienced a decline. This move comes as the stock hit a new 52-week low of $26.20 earlier this month. In September alone, Coliseum purchased a total of 548,740 ModivCare shares at prices ranging from $26.56 to $29.00 each.
The significance of these purchases is not lost on investors, as ModivCare has lost over 62% of its value year to date. Coliseum’s continued confidence in the company despite its recent struggles is a testament to their investment strategy.
Changes in Holdings
ValueAct Capital, an influential hedge fund, has significantly reduced its holdings in Seagate Technology, a leading maker of hard disk drives. The fund sold 5,750,000 Seagate Technology shares, bringing its total ownership to 7,687,070 shares. This amounts to a 3.7% stake in the company, well below the 5% threshold that triggers further disclosure of stock sales. The sudden decrease in holdings was executed through a block trade sale on September 6 at a price of $69 per share. It is worth noting that Dylan Haggart, a former partner at ValueAct, recently resigned from the fund but remains a director at Seagate.
Silver Point Capital, another prominent investment firm, has sold 800,000 shares of Gulfport Energy, a reputable oil and gas explorer. This move reduced Silver Point’s stake in the company to 8,065,822 shares, representing a 40% interest. Despite the decrease in holdings, Silver Point remains Gulfport Energy’s largest shareholder. Additionally, it should be noted that the ownership figures include 1,695,929 Gulfport shares underlying convertible preferred securities. Gulfport Energy’s stock reached a record intraday high of $125.28 on September 13, further highlighting the potential value of this investment.
These changes in holdings showcase the dynamic nature of the investment landscape, as well as the varied strategies employed by different investment firms. While some firms choose to increase their positions in struggling stocks, others opt to reduce their holdings in companies experiencing record highs. As investors navigate these shifts, it is crucial to consider the underlying factors driving these decisions and evaluate the potential impact on the market.
Gulfport Energy Stock Receives Positive Outlook
In a recent development, KeyBanc Capital Markets analyst Tim Rezvan upgraded Gulfport Energy stock to Overweight from Sector Weight, accompanied by a price target of $145. Exclaiming that the company has received insufficient attention in the market, Rezvan stated that Gulfport Energy is undervalued and underappreciated. This update signifies a promising outlook for the stock.