Activist investor Jana built stake in BlackLine Systems in second quarter
14/08/2024 15:15
NEW YORK, Aug 14 (Reuters) - Activist investor Jana
Partners built a new stake in U.S. enterprise software company
BlackLine Systems BL.O during the second quarter, according to
a regulatory filing on Wednesday.
The hedge fund has not yet said whether it will seek changes
at the Los Angeles-headquartered company. Jana owned 1.15
million shares on June 30, the filing shows, equivalent to a
near 2% stake.
The 13-F filing, which details what U.S. stocks asset
managers owned at the end of a given quarter, also shows that
Jana owned 2.7 million shares in cybersecurity company Rapid7
RPD.O , where the hedge fund is pushing for a sale.
Jana built a small stake in Fortrea Holdings FTRE.O ,
owning 690,000 shares at the end of the quarter, the filing
shows.
The firm cut its position in diagnostics company QuidelOrtho
QDEL.O , which it had built during the first quarter.
It liquidated its position in pet food company Freshpet
FRPT.O where it pushed for changes and reached a settlement a
year ago. Since Jana first began engaging with the company
roughly two years ago, its stock price generated a return of
roughly 300%.
Jana has a 23-year track record of investing and has pushed
for changes at companies including Frontier Communications
FYBR.O and before that Whole Foods Market, which sold itself
to Amazon.com Inc AMZN.O .
(Reporting by Svea Herbst-Bayliss; Editing by Jan Harvey)
((svea.herbst@thomsonreuters.com; +617 233 2138; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))