December 18, 2019 / 3:26 PM / 6 months ago

REFILE-BUZZ-Stars Group falls as #2 holder cashes in some chips

(Attaches story link to 7th bullet)

** U.S.-listed shares of Stars Group gap down ~2% early Weds as a top holder cuts its stake in the Canadian online gambling firm

** TSG shares recently flat

** Sources say Jefferies reoffered 15 mln shares at $23.74, middle of $23.13–$24.35 marketed range, vs TSG last sale of $24.35 on Tues

** #2 holder CVC Partners cited as the seller; transaction halves PE firm’s stake in co to about 4%, per Refinitiv data

** Australian fund manager Caledonia Investments is top Stars Group holder with ~19% stake, followed by Discovery Key Investments’ ~9% stake and Blackstone’s GSO Capital Partners at ~6%

** Block represents about a week’s worth of trading volumes based on 90-DMA

** TSG shares have surged >60% this quarter in wake of co’s Oct 2 merger deal with Ireland-based gambling firm Flutter Entertainment

** Avg rating among 11 analysts covering TSG is “hold”; median PT is $23 (Refinitiv data)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below