Activist Holdings
Gildan Activewear
Coliseum Capital reduced its position in the apparel maker to 9,881,461 shares after selling 1,270,012 Gildan shares at prices of $33.25 to $37.65 each from Nov. 6 through Dec. 7. Coliseum and Gildan signed a support agreement on Dec. 17 that appointed Coliseum managing partner Christopher Shackelton to Gildan’s board. Coliseum also “intends to make an additional investment in Gildan through market purchases.”
On Dec. 11, Gildan announced the termination of co-founder Glenn J. Chamandy as CEO, though some shareholders called for his reinstatement. Gildan said the CEO succession plan, which includes naming Vince Tyra as its new top executive, “has been a multiyear, careful, and deliberate process,” and was a “unanimous decision” by the company’s board.
Increases in Holdings
Alta Equipment Group
Mill Road Capital III raised its interest in the dealer of specialty equipment, including lift trucks and cranes, to 2,315,424 shares. Mill Road Capital purchased 181,343 Alta Equipment Group shares from Dec. 18 through Dec. 21 at prices ranging from $11.88 to $12.28 apiece. That followed Mill Road Capital’s acquisition of 42,300 Alta Equipment Group shares for $15 each through put-option assignments in November.
Mill Road initiated a 5% stake in Alta Equipment this May, and following its latest buys, now holds a 7.2% stake. The stock has lost about 3% this year.
Decreases in Holdings
CarParts.com
Philotimo Fund cut its position in the online retailer of automotive parts to 2,699,109 shares, including those held by fund manager David Kanen. Philotimo sold 353,492 CarParts.com shares from Nov. 21 through Dec. 21 at prices ranging from $3.18 to $3.48. Philotimo now holds a 4.7% stake, below the 5% threshold that would require the disclosure of any further sales.
Overseas Shipholding Group
Cyrus Capital Partners slashed its stake in the tanker company to 4,264,087 shares by selling 1,421,653 Overseas Shipholding shares from Nov. 14 through Dec. 22 at average prices ranging from $5.07 to $5.19 apiece. Cyrus now owns a 6% stake.
USA Compression Partners
EIG Veteran Equity Aggregator reduced its stake in the provider of natural-gas compression services to 22,123,386 shares. That figure consists of 420,664 series A perpetual preferred units, which are convertible for a total of 21,021,113 shares. EIG sold 1,333,201 USA Compression shares from Nov. 17 through Dec. 22 at prices ranging from $24.02 to $25.88 each. Following the sales, EIG Veteran owns 18.2% of USA Compression’s tradable stock.
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