Ellliott Management Sets Its Sights on CAH

JC Parets
August 16, 2022

Elliott Management is at it again.

Following the revelation of large stakes in Paypal $PYPL and Pinterest $PINS just last month, the activist fund was in the news again on Monday.

This time it’s targeting the healthcare space, with a large investment in Cardinal Health $CAH.

Elliott already shook things up with the nomination of five directors to Cardinal’s board of directors, and it’s hard to imagine it didn't have something to do with the departure of the company’s CEO last week.

No one has been more active than Elliott Management this summer.

The largest insider buy on today’s list is a Form 4 filing by Bill Gates, who revealed a purchase worth $31 million in Ecolab $ECL.

There was a 13D filed by Voss Capital revealing a 12% stake in the multinational conglomerate Griffon Corporation $GFF.

Here’s The Hot List, with data through August 15, 2022:

In another Form 4 filing, Gary Yablon of Impala Asset Management reported a purchase of 5,000 shares, equivalent to roughly $428,000 in Hub Group $HUBG.

The only 13G on our list today was filed by Deerfield Management’s James Flynn, who revealed a 5.19% ownership stake in AnaptysBio $ANAB.

There was an insider buy reported by both the executive vice-president and one independent director of the chemical manufacturer Huntsman Corp $HUN.

In the options market, there was bullish flow in Newmont Corporation $NEM, Twitter $TWTR, Amarin Corp $AMRN, and SmileDirectClub $SDC.

Last but not least, Alabama Sen. Tommy Tuberville filed a Periodic Transaction Report declaring the purchase of two stocks.

Sen. Tuberville reported acquisitions worth between $50,000 and $100,000 in the steel producer Cleveland-Cliffs $CLF and between $100,000 and $250,000 in the software company ChannelAdvisor Corporation $ECOM.

Stay tuned. We'll be back Wednesday with more insider action.

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All Star Charts Team

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