Purple Innovation (PRPL)
Coliseum Capital increased its stake in the mattress and bedding retailer, now holding 46,814,450 shares. Purple’s board previously rejected Coliseum’s cash bid of $4.35 per share in mid-January. In response, Coliseum expressed its intention to seek board representation. Following through on their plans, Coliseum has nominated five candidates for Purple Innovation’s board at the upcoming 2023 shareholders meeting. Additionally, on February 13, Coliseum acquired 5,960,320 Purple shares at $4.50 per share through a closed offering. As a result, Coliseum now owns 44.7% of Purple’s outstanding stock.
OneMain Holdings (OMF)
Varde Partners decreased its stake in the consumer-lending services firm to 8,268,916 shares. A Varde affiliate, Uniform Investco Sub, sold 273,000 OneMain shares between $45 and $46.22 on February 14. Currently, Varde owns 6.8% of OneMain’s tradable stock, with Varde Senior Managing Director Aneek Mamik serving on OneMain’s board.
Mueller Industries (MLI)
Gamco Investors (GBL) has recently reduced its position in Mueller Industries, an industrial products company. From December 14, 2022, to February 14, Gamco sold 149,850 shares of Mueller Industries at prices ranging from $59.22 to $74.56. These sales outweighed the 800 shares that Gamco purchased from February 8 to February 10 at an average price of $60. As a result, Gamco now holds 4,038,571 shares of Mueller Industries’ outstanding stock, representing a 7.1% stake.
Invesco (IVZ)
Trian Fund has continued to decrease its stake in Invesco, an investment management firm. During the month of February, Trian sold 5,849,282 shares of Invesco at prices ranging from $18.56 to $19.66. This comes after Trian disposed of nearly eight million shares in late January. Currently, Trian holds 34,895,718 shares of Invesco, representing a 7.7% interest. As of the end of 2022, Trian had a 12.2% stake in Invesco with 55.8 million shares. It is worth noting that Nelson Peltz and Edward Garden, the co-founders of Trian, left Invesco’s board in February 2022.
PLBY Group (PLBY)
Builders Union has recently reduced its investment in PLBY Group, a media and lifestyle firm that owns the Playboy brand. On February 2, the London-based investment firm bought 237,763 shares of PLBY Group for $2.56 per share through a rights offering announced on December 7. Additionally, PLBY Group sold 19,561,050 shares at the same price.
Subsequently, Builders Union sold 1,811,691 shares of PLBY Group from February 9 to February 14, with an average price of $2.59 per share. Following these transactions, Builders Union now owns 2,063,079 shares of PLBY Group, which represents a 2.9% stake.
