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Atlantic Power Corp (AT): Here is How A Hedge Fund Made 38% Trading The Stock

Two months ago Nathaniel August’s hedge fund Mangrove Partners disclosed a detailed list of its transactions in Atlantic Power Corp (AT) . Between December 3rd, 2015 and January 28th, New York based hedge fund purchased 1.9 million shares of Atlantic Power Corp at prices ranging between $1.62 and $2.00. Its average price for these transactions was $1.78. These purchases brought Mangrove Partners’ activist position  to 8.2 million shares.

Yesterday, the same hedge fund disclosed in another filing the purchase of another 350 thousand shares of Atlantic Power Corp at prices below $1.80 through March 2nd. These transactions brought its purchase total to 2.3 million shares at an average price of $1.77. On March 18th Mangrove Partners reversed its position and started selling shares at about $2.22. Over the next 2.5 weeks it managed to unload more than 2 million shares at an average price of $2.45.

Through opportunistic trading Mangrove Partners made 38%. Mangrove Partners had 12 stocks in its 13F portfolio that had market caps of at least $1 billion at the end of December. These stocks gained an average of 6.2% assuming that Mangrove Partners hasn’t made any changes to its portfolio. Mangrove Partners ranked 56th out of 690 hedge funds based on these numbers. You can check out its portfolio here. You can check out our list of best performing hedge funds here.

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Below you can find the details of Mangrove’s recent transactions:

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
THE MANGROVE PARTNERS MASTER FUND, LTD 6,513,514 6,513,514 6,513,514 5.4%
THE MANGROVE PARTNERS FUND 6,513,514 6,513,514 6,513,514 5.4%
MANGROVE PARTNERS FUND (CAYMAN), LTD 6,513,514 6,513,514 6,513,514 5.4%
MANGROVE PARTNERS 6,513,514 6,513,514 6,513,514 5.4%
MANGROVE CAPITAL 6,513,514 6,513,514 6,513,514 5.4%
NATHANIEL AUGUST 6,513,514 6,513,514 6,513,514 5.4%
Nathaniel August
Nathaniel August
Mangrove Partners

Page 1 of 13 – SEC Filing

Washington, D.C. 20549
(Rule 13d-101)
§ 240.13d-2(a)
(Amendment No. 1)1
Atlantic Power Corporation
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
(CUSIP Number)
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)
April 1, 2016
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box x.
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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