UTZ
Utz Brands, INC
NYSE
Form 4: CC Collier Holdings Sells 2,815,404 Shares of Utz Brands
Sentiment:
SEC Form 4 Filing
6 November 2024 7:51 PM
CC Collier Holdings, LLC, a significant shareholder in Utz Brands, Inc., disposed of 2,815,404 shares of Class A Common Stock at a price of $17.29 per share on November 6, 2024.
Worse than expected
A large sale of shares by a major holder is generally viewed negatively by the market.
Summary
- On November 6, 2024, CC Collier Holdings, LLC sold 2,815,404 shares of Utz Brands, Inc. Class A Common Stock.
- The sale price was $17.29 per share.
- Following the transaction, CC Collier Holdings, LLC directly holds 496,038 shares of Utz Brands, Inc.
- Chinh E. Chu holds voting and dispositive power over the securities held by CC Collier Holdings, LLC.
- Jason K. Giordano, a Senior Managing Director of CC Capital, may be considered a director by deputization.
Sentiment
Score: 4
Explanation: The sentiment is slightly negative due to the large sale of shares by a major holder, which could indicate a lack of confidence or a strategic shift by the investor.
Highlights
- CC Collier Holdings, LLC sold 2,815,404 shares of Utz Brands, Inc. Class A Common Stock on November 6, 2024.
- The transaction was executed at a price of $17.29 per share.
- After the sale, CC Collier Holdings, LLC directly owns 496,038 shares of Utz Brands, Inc.
- Chinh E. Chu has voting and dispositive power over the shares held by CC Collier.
Negatives
- CC Collier Holdings, LLC significantly reduced its stake in Utz Brands, Inc. by selling 2,815,404 shares.
Risks
- The sale of a large number of shares by a major shareholder like CC Collier Holdings, LLC could potentially create downward pressure on the stock price of Utz Brands, Inc.
Industry Context
Sales by major shareholders are common and can be for a variety of reasons, including portfolio rebalancing or to realize gains. The impact on Utz Brands will depend on market perception and the overall health of the company.
Comparison to Industry Standards
- Comparing this transaction to similar sales by major shareholders in the packaged food industry, the market reaction often depends on the company's performance and the investor's rationale.
- For example, if a competitor like PepsiCo or Mondelez International saw a similar sale, analysts would scrutinize the reasons behind it and its potential impact on the company's stock.
Stakeholder Impact
- Shareholders may react to the news of the sale, potentially leading to price volatility.
- Employees may experience uncertainty if the sale is perceived negatively.
Key Dates
- 11/06/2024: Date of the transaction: CC Collier Holdings, LLC sold shares of Utz Brands, Inc.
- 11/06/2024: Date of the signatures of Chinh Chu as Authorized Signatory for CC Collier Holdings, LLC and Chinh Chu.
Keywords
UTZ
Utz Brands, INC
NYSE
Sector: TBD
Filings with Classifications
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