Iridian Asset Management Sells 23,051 Shares of Chart Industries for $4.67 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 57m ago
0mins
Source: Yahoo Finance
- Share Reduction: Iridian Asset Management sold 23,051 shares of Chart Industries in Q4, with an estimated transaction value of $4.67 million, reflecting a diminished confidence in the stock, reducing its position to 0.48% of reportable AUM.
- Quarter-End Position Change: As of December 31, the value of Iridian's holdings in Chart Industries decreased by $4.58 million, indicating the impact of market fluctuations and trading activities on its portfolio, suggesting a strategic adjustment in response to market conditions.
- Market Performance: As of January 22, Chart Industries shares were priced at $207.49, down 4% over the past year, significantly underperforming the S&P 500's 14% gain, highlighting the company's relative weakness in the market.
- Acquisition Agreement Impact: Chart Industries has entered into a definitive acquisition agreement with Baker Hughes at $210 per share, fundamentally altering the stock's return profile, making Iridian's decision to trim its position more rational, especially given its portfolio's concentration in higher-beta stocks.
Analyst Views on GTLS
Wall Street analysts forecast GTLS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GTLS is 210.67 USD with a low forecast of 210.00 USD and a high forecast of 212.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
0 Buy
5 Hold
0 Sell
Hold
Current: 207.490
Low
210.00
Averages
210.67
High
212.00
Current: 207.490
Low
210.00
Averages
210.67
High
212.00
About GTLS
Chart Industries, Inc. is engaged in the designing, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling for the Nexus of Clean-clean power, clean water, clean food, and clean industrials, regardless of molecule. The Company's Cryo Tank Solutions segment designs and manufactures and supplies bulk, microbulk and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases and certain hydrocarbons. Its Heat Transfer Systems segment facilitates natural gas, petrochemical processing, petroleum refining, power generation and industrial gas companies in the production or processing of their products. Its Specialty Products segment supplies highly engineered equipment and process technologies used in specialty end-market applications for hydrogen and helium, LNG, biofuels, carbon capture, food and beverage, metals and mining, aerospace, space exploration, lasers, and water treatment, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
