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Equity Actions

PMTS

CPI Card Group has announced a new stock purchase agreement with its majority shareholder, Parallel49 Equity Ulc. This agreement, set for the second quarter, follows the expected completion of an initial agreement by March 31, 2024. The move indicates a strengthening relationship between CPI Card Group and Parallel49 Equity, potentially impacting investor confidence and stock stability.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 11:07 am

THR

Thermon Group has announced the authorization to repurchase up to $50 million of its outstanding shares of common stock through March 15, 2027. This move is aimed at enhancing shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 11:05 am

LE

Lands' End has announced the authorization of a stock repurchase program, allowing the company to buy back up to $25 million of its common stock until March 31, 2026. This move reflects the company's confidence in its financial stability and future prospects.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:48 am

SWZCF

VOD

Vodafone Group Plc (VOD) sells its Italian unit to Swisscom AG (SWZCF) for $8.7 billion, aiming to merge it with Fastweb. The deal, fully debt-financed, will see Vodafone providing services for an initial charge of ~€350 million. The merger is expected to create substantial value through enhanced scale, cost structure, and synergies of €600 million annually. Vodafone plans to return €4 billion to shareholders via buybacks following this and the sale of its Spanish operation. The company also plans to reduce its dividend starting from the 2025 financial year.

Portfolio Pulse from Nabaparna Bhattacharya

March 15, 2024 | 10:08 am

VOD

Vodafone Group Plc has finalized the sale of its Italian operations to Swisscom AG for €8 billion in cash. This transaction is part of Vodafone's strategy to right-size its portfolio, focusing on markets where it has strong positions and local scale. The sale price is considered attractive, representing about 26 times the consensus operating free cash flow and 7.6 times the consensus adjusted EBITDA for FY24. Following this sale, Vodafone plans to rebase its dividend to 4.5 cents per share from FY25, return €4 billion to shareholders through buybacks, and maintain a new leverage range.

Portfolio Pulse from Charles Gross

March 15, 2024 | 9:05 am

ARKF

ARKK

ARKW

COIN

HOOD

Cathie Wood's Ark Invest sold 1,142,482 shares of Robinhood (HOOD) valued at $20.62 million across its ARKK, ARKW, and ARKF ETFs as Robinhood's shares rallied. Robinhood's customer base grew to 23.6 million in February. Ark did not sell any Coinbase (COIN) shares, despite its recent rally, with COIN remaining ARKK's top holding.

Portfolio Pulse from Shanthi Rexaline

March 15, 2024 | 8:35 am

DOYU

DouYu International Holdings Limited (NASDAQ:DOYU) announced a one-for-ten reverse ADS split, adjusting the share ratio from ten ADSs representing one Ordinary Share to one ADS representing one Ordinary Share. This change will be automatically applied for holders of uncertificated ADSs, with any fractional ADSs sold and proceeds distributed to the entitled holders.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 8:03 am

CDRE

Cadre Holdings, Inc. (CDRE) announced the pricing of a public offering of 3.64M shares at $35 each, including 2.2M shares from the company and 1.44M shares from Kanders SAF, LLC, owned by CEO Warren B. Kanders. The offering includes an option for underwriters to buy an additional 545,719 shares and is expected to close by March 19, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 6:23 am

AAU

Almaden Minerals has initiated an arbitration notice against Mexico and announced its delisting from the NYSE American to move to the OTCQB market. This decision comes as a significant step for the company, potentially impacting its stock visibility and investor base.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 6:10 am

ECPG

Encore Capital has successfully priced an upsized offering of $500 million in senior secured notes at an interest rate of 9.250%, with these notes set to mature in 2029. This move indicates the company's strategy to secure long-term financing at a fixed interest rate.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 5:40 am