Notable Stock Gainers: BIG, SNCR, OPK
2:41 pm Tuesday, March 15th, 2022
Big Lots (NYSE:BIG) jumped 21% after holder Mill Road Capital urged the retailer to hire an adviser to pursue a sale. Mill Road, which owns a 5.1% stake, believes the company could be worth $55 to $70/share in a potential sale, according to a letter in a 13D filing. The Mill Road push comes after Apollo Global (NYSE:APO) reportedly attempted to buy Big Lots in 2020, though the deal allegedly fell apart due to the sale and leaseback deal struck between the retailer and Oak Street Real Estate Capital. We “believe there is a significant disconnect between the company’s current market valuation and the price a well capitalized buyer could pay to take the company private in a formal sales process,” Mill Road wrote in the letter to shareholders on Tuesday.
Synchronoss Technologies (SNCR) stock jumps as key executives buy shares. CEO, Jeffrey George Miller bought 72,180 shares worth ~98K. CFO, Taylor C Greenwald bought 100,000 shares worth ~130K. Chief Commercial Officer and EVP, Christopher K. Hill bought also bought 100,000 shares worth ~120K. Director, Martin Francis Bernstein bought 105502 worth ~$118K.
COVID-19 test maker, OPKO Health (OPK) is trading higher on Tuesday after Chief Executive and Chairman, Dr. Phillip Frost, added more shares into his stake at the company. In a regulatory filing submitted to the Securities and Exchange Commission (SEC) on Monday, Frost disclosed the purchase of 35,000 OPKO (NASDAQ:OPK) shares for $3.03 – $3.05 apiece in three transactions dated March 14. The total value of the purchase amounts to $106,317. Frost has quickly increased his stake at the company in recent months. According to data from Openinsider, he has purchased about 1.6 million company shares this year alone, raising his ownership at OPKO (OPK) to ~228.0 million shares with the latest transaction.
