AutoNation, Fiserv, and Other Stocks See Action From Activist Investors

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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 May 5, 2022 to May 11, 2022. Source: VerityData

Increases In Holdings
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Alta Equipment Group (ALTG)

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B. Riley Financial
(RILY) raised its interest in the distribution and warehouse-services company to 6,434,326 shares. That figure includes 653,454 owned by B. Riley co-CEO Bryant Riley. B. Riley lifted its Alta stake through the purchase of 336,129 shares from March 7 through April 29 at per share prices ranging from $11.25 to $12.28. After the fresh investment, B. Riley owns a 19.9% ​​interest in Alta.

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iHeartMedia (IHRT)

Global Media & Entertainment Investments increased its position in the digital-media company to 18,140,000 shares. Global Media bought 2,897,427 shares at prices ranging from 11.56 to $16.50, from May 3 through May 9. Global Media now owns 15% of iHeartMedia’s outstanding stock.

Appian (APPN)

Abdiel Capital lifted its stake in the provider of business-process-management solutions to 7,650,034 shares. Abdiel first purchased 433,000 Appian shares on May 5 and May 6 at prices ranging from $42.31 to $50.79. Abdiel then reported buys of 1,050,000 more Appian shares on May 9 and May 10 at $42.53 to $59.90 apiece. Abdiel now holds 18.7% of Appian’s outstanding stock. On May 10, the Circuit Court for Fairfax County, Va., awarded Appian $2 billion in damages after the court ruled that Pegasystems (PEGA) had misappropriated Appian trade secrets.

Decreases In Holdings

Evolent Health (EVH)

Engaged Capital reported a lower stake in the healthcare administration and clinical-services company of 7,065,573 shares. Engaged Capital sold 680,822 shares from March 11 through May 5 at prices ranging from $29.12 to $32.01. Engaged Capital now owns 7.7% of Evolent’s tradable stock.

AutoNation (AN)

Edward Lambert disclosed that he had reduced his holding in the auto retailer to 9,011,183 shares, including 4,408 held by his ESL Investments in a liability account. From March 25 through May 6, Lambert sold 561,006 shares at prices ranging from $98.46 to $125.68. Lambert also delivered 161,010 AutoNation shares to settle a variable forward contract in which he received payment in October 2021. Following that settlement and the above-mentioned sales, Lambert has a 15.5% interest in AutoNation.

Fiserv (FISV)

KKR (KKR) reduced its interest in the fintech company to 36,195,843 shares. KKR sold 6,591,526 shares from March 23 through May 9 at prices ranging from $93.39 to $105.22. KKR now holds a 5.6% stake in Fiserv. In April, Susquehanna analyst James E Friedman reiterated a positive rating on Fiserv, with a $135 price target. Fiserv is “maintaining—or even slightly gaining—market share,” he wrote.

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