CCC Intelligent Solutions extends gains on report activist Elliott amasses stake
BUZZ-CCC Intelligent Solutions extends gains on report activist Elliott amasses stake ** Shares of CCC Intelligent Solutions CCC.O up 4.4% premarket on Mon to $6.18, an over three-mth high, after report activist investor Elliott Management has built a large stake
** CCC's stock finished up 10% at $5.92 on Fri after Reuters reported late Thurs car insurance software firm hired Morgan Stanley to advise on a sale process
** Elliott's exact holding size could not immediately be learned, but the activist firm acquired the position before CCC decided to explore a sale, Bloomberg reported late Fri, citing people familiar with the matter
** CCC, which went public in 2021 after SPAC merger with Dragoneer Growth Opportunities Corp, has about $3.5 bln market cap
** Through Fri, CCC's stock down ~26% YTD following 32% drop in 2025
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))