RGM Capital Picked Up Calpine Corp (NYSE:CPN) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Calpine Corp (NYSE:CPN) reported that Blackrock Inc. has picked up 166 of common stock as of 2017-06-08.

The acquisition brings the aggregate amount owned by Blackrock Inc. to a total of 166 representing less than 4.6% stake in the company.

For those not familiar with the company, Calpine Corporation is a power generation company. The Company is engaged in the ownership and operation of primarily natural gas-fired and geothermal power plants in North America. The Company’s segments include West (including geothermal), Texas and East (including Canada). In the Northeast and Mid-Atlantic regions, the Company has generating units capable of burning either natural gas or fuel oil. As of December 31, 2016, the Company’s portfolio consisted of two types of power generation technologies, including natural gas-fired combustion turbines, such as combined-cycle plants, and renewable geothermal conventional steam turbines. As of December 31, 2016, the Company’s portfolio included 80 power plants, including one under construction, with an aggregate generation capacity of 25,908 Megawatt (MW) and 828 MW under construction. As of December 31, 2016, it had four MW of capacity from solar power generation technology at its Vineland Solar Energy Center in New Jersey.

A glance at Calpine Corp (NYSE:CPN)’s key stats reveals a current market capitalization of 4.58 Billion based on 360.80 Million shares outstanding and a price at last close of $12.77 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-11-02, Moreland picked up 50,000 at a purchase price of $11.08. This brings their total holding to 101,273 as of the date of the filing.

On the sell side, the most recent transaction saw Fusco unload 6,700 shares at a sale price of $15.07. This brings their total holding to 265,000.

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 Calpine Corp (NYSE:CPN) as things move forward to see if its progress aligns with these transactions.

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