In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Yrc Worldwide Inc. (NASDAQ:YRCW) reported that Avenue Capital Management Ii, L.p. has picked up 2,359,089 of common stock as of 2016-12-13.
The acquisition brings the aggregate amount owned by Avenue Capital Management Ii, L.p. to a total of 2,359,089 representing a 7.1% stake in the company.
For those not familiar with the company, YRC Worldwide Inc. (YRC Worldwide) is a holding company that, through its subsidiaries and its interest in a Chinese joint venture, offers a range of transportation services. The Company has a less-than-truckload (LTL) networks in North America with local, regional, national and international capabilities. It offers supply chain solutions enabling customers to ship industrial, commercial and retail goods. The Company operates through two segments: YRC Freight and Regional Transportation.
A glance at Yrc Worldwide Inc. (NASDAQ:YRCW)’s key stats reveals a current market capitalization of $505.17 million based on 33.27 million shares outstanding and a price at last close of $15.61 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-02-11, Pierson picked up 35,000 at a purchase price of $6.72. This brings their total holding to 137,155 as of the date of the filing.
On the sell side, the most recent transaction saw Lasry unload 500,477 shares at a sale price of $0.00. This brings their total holding to 836,678.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Yrc Worldwide Inc. (NASDAQ:YRCW) as things move forward to see if its progress aligns with these transactions.
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