Form 4: Corre Partners Management, LLC Reports Beneficial Ownership Changes in TEAM, Inc.
SEC Form 4 Filing
Corre Partners Management, LLC, along with affiliated funds, reports changes in beneficial ownership of TEAM, Inc. common stock following recent transactions.
Summary
- Corre Partners Management, LLC, along with affiliated funds Corre Horizon Fund, LP, Corre Opportunities Qualified Master Fund, LP, and Corre Horizon II Fund, LP, filed a Form 4 detailing changes in beneficial ownership of TEAM, Inc. common stock.
- On May 21, 2024, the funds acquired 6,122 shares of common stock at a price of $7.0031 per share.
- Following this transaction, the total shares beneficially owned amounted to 1,548,489.
- On May 22, 2024, an additional 4,231 shares were acquired at $7.1291 per share, bringing the total to 1,552,720 shares.
- The shares are held directly by Corre Opportunities Qualified Master Fund, LP, Corre Horizon Fund, LP, and Corre Horizon II Fund, LP.
- Corre Partners Management, LLC serves as the investment advisor for these funds, with investment management authority delegated by Corre Partners Advisors, LLC, the general partner of the funds.
- John Barrett and Eric Soderlund are the co-owners and managing members of both the Investment Adviser and the General Partner.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing indicating transactions, but doesn't inherently suggest positive or negative outlook. The increased investment could be seen as slightly positive.
Positives
- The increased investment by Corre Partners Management, LLC and its affiliated funds could be seen as a positive signal regarding their confidence in TEAM, Inc.
Industry Context
Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the trading activities of significant shareholders and insiders. This filing indicates the continued investment interest of Corre Partners Management, LLC in TEAM, Inc.
Stakeholder Impact
- The increased stake by Corre Partners Management, LLC could reassure shareholders about the company's prospects.
Key Dates
| Date | Description |
|---|---|
| 05/21/2024 | Acquisition of 6,122 shares of TEAM, Inc. common stock at $7.0031 per share. |
| 05/22/2024 | Acquisition of 4,231 shares of TEAM, Inc. common stock at $7.1291 per share. |
| 05/23/2024 | Date of signatures for the Form 4 filings. |
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