In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Peabody Energy Corp (NYSE:BTU) reported that Contrarian Capital has picked up 9,534,678 of common stock as of 2017-05-10.
The acquisition brings the aggregate amount owned by Contrarian Capital to a total of 9,534,678 representing less than 9.3% stake in the company.
For those not familiar with the company, Peabody Energy Corporation (NYSE: BTU), headquartered in St. Louis, Missouri, is the largest private-sector coal company in the world. Its primary business consists of the mining, sale and distribution of coal, which is purchased for use in electricity generation and steelmaking. Peabody also markets, brokers and trades coal through offices in China, Australia, Germany, the United Kingdom, Indonesia, India, Singapore, and the United States. Other commercial initiatives include the development of mine-mouth coal-fueled plants, the management of coal reserve holdings, and technologies to transform coal to natural gas and transportation fuels.
A glance at Peabody Energy Corp (NYSE:BTU)’s key stats reveals a current market capitalization of 2.36 Billion based on 94.71 Million shares outstanding and a price at last close of $24.92 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-05, Elliott picked up 34,000 at a purchase price of $23.77. This brings their total holding to 13,547,521 as of the date of the filing.
On the sell side, the most recent transaction saw Discovery unload 4,337,504 shares at a sale price of 23.09. This brings their total holding to 8,707,776.
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 Peabody Energy Corp (NYSE:BTU) as things move forward to see if its progress aligns with these transactions.
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