Windward's massive new Groupon stake: Insider trades & hedge funds weekly
Investing.com | Author Davit Kirakosyan
Published Sep 11, 2023 08:56
By Davit Kirakosyan
Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed last week: news out of Windward Management and Groupon, and top brass buys at Broadcom, GlobalStar, Energy Transfer , and Penn Entertainment.
Never miss another market-moving headline.
Windward Management discloses 8.9% stake in Groupon/h2
Windward Management disclosed an 8.9% (or 2,777,400 shares) stake in Groupon (NASDAQ:GRPN). As of June 30, 2023, the firm had no shares in the company. They estimate the company is worth over $55 per share.
As a result of the disclosure, Groupon shares surged more than 4% on Friday.
Windward also disclosed a letter to Groupon CEO Dusan Senkypl, including the following admonishment:
There have been quite a few mis-steps by prior management and in spite of a legacy bloated cost structure and a company that was mired in a “blasé-faire” culture, the company managed to survive in spite of itself, a testament to the quality of the core business.
Windward also believes that “a series of bad guides under prior management teams who have consistently under-performed and caused the stock to trade into no man’s land."
Windward says it believes that, with new leadership under the control of Pale Fire - an activist investor who possesses a 22% stake in the company - there exist numerous easily attainable opportunities due to artificially depressed compares. They moreover argue that these opportunities have the potential to drive revenue growth toward or beyond 50% of 2019 levels.
h2
Get The App
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.