Activist Holdings
Icahn Capital owns 33,621,735 shares of JetBlue Airways with a 9.9% interest. Recent purchases and stock performance are highlighted.
## **Activist Holdings**
Icahn Capital's Ownership:
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Mill Road Capital increased its interest in the operator of construction-equipment dealerships to 3,051,865 shares. Mill Road acquired 18,000 Alta Equipment shares on Feb. 1 through the assignment of put options exercised at $15 per share. Mill Road purchased another 300,000 Alta Equipment shares on Feb. 8 at $11 apiece. Following those two transactions, Mill Road owns 9.4% of the equipment provider.
Shares of Alta Equipment have dropped about 3% this year and have lost about a third of their value in the past 12 months. In January, Alta Equipment appointed Jeff Hoover as chief legal officer and general counsel.
Jana Partners boosted its stake in the government and aerospace contractor to 6,533,120 shares. Without citing a reason, Jana purchased 1,335,848 Mercury Systems shares on Feb. 9 at prices ranging from $26.67 to $28.85 apiece, bringing its stake in the company up to 11%. Through a voting agreement, Jana Managing Partner Scott Ostfeld was appointed to Mercury Systems’ board in mid-2023.
Mercury Systems stock has lost roughly 16% of its value so far this year, and has plunged more than 40% in the past 12 months.
Coliseum Capital reduced its position in the specialty distributor of building products to 2,647,095 shares. Coliseum Capital sold 352,924 GMS shares from Feb. 7 through Feb. 9 at prices ranging from $87 to $88.33 each. At the end of the first quarter of 2023, Coliseum Capital owned almost 15% of GMS’ outstanding stock. Following the latest sales, Coliseum Capital now holds a 6.6% stake.
GMS stock has shown impressive growth, with a gain of approximately 8% year to date and a remarkable 48% surge in the past 12 months. Investors eagerly await the company's earnings report for the fiscal third quarter, which concluded in January. This report is scheduled to be released on Feb. 29.
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