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 1,175,656 of common stock as of 2017-07-26.
The acquisition brings the aggregate amount owned by Avenue Capital Management Ii, L.p. to a total of 1,175,656 representing a 3.5% in the company.
For those not familiar with the company, YRC Worldwide Inc. is a holding company. The Company, through its subsidiaries, offers its customers a range of transportation services. The Company operates through two segments: YRC Freight and Regional Transportation. The Company has less-than-truckload (LTL) networks in North America with local, regional, national and international capabilities. YRC Freight segment offers a range of services for the transportation of industrial, commercial and retail goods in national, regional and international markets, primarily through the operation of owned or leased equipment in its North American ground distribution network. It provides transportation services for various categories of goods, which include apparel, appliances, automotive parts, chemicals, food, furniture, glass, machinery, metal and metal products. The Company’s Regional Transportation segment consists of USF Holland LLC (Holland), New Penn Motor Express, LLC (New Penn) and USF Reddaway Inc. (Reddaway).
A glance at YRC Worldwide Inc. (NASDAQ:YRCW)’s key stats reveals a current market capitalization of 459.54M based on 33.53M shares outstanding and a price at last close of $13.25 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2016-02-11, Pierson picked up 35,000 at a purchase price of $6.72 per share.This brings their total holding to 137,155 as of the date of the filing.
On the sell side, the most recent transaction saw O’connor unload 3,731 shares at a sale price of $12.90. This brings their total holding to 32,561.
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. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.