Atlantic Power Corp (AT): Mangrove Partners Raises Stake to 6.4%

Published on August 22, 2016 at 11:21 am by Insider Monkey Staff in Hedge Funds,News

Page 1 of 12

A newly-amended 13D filing with the Securities and Exchange Commission revealed that Nathaniel August‘s Mangrove Partners owns 7.68 million common shares of Atlantic Power Corp (NYSE:AT), which represent 6.4% of the company’s outstanding stock. This shows an increase in the fund’s stake, as it previously held 6.34 million shares according to its 13F filing for the reporting period of June 30.

Atlantic Power is a power generation company with plenty of assets across the U.S. and Canada. Since the beginning of the year, the company’s stock has gained 26.4%. In its financial report for the second quarter of 2016, Atlantic Power reported a loss per share of $0.15 and a net loss of $18.5 million, compared to a loss per share of $0.18, and net income of $14.7 million for the same quarter of the previous year. Recently, TD Securities reiterated its ‘Hold” rating on Atlantic Power’s stock and has a price target of $2.75 on it, 0.23 above the stock’s current price.

Nathaniel August - Mangrove Partners

At the end of June there were several investors in our database that were bullish on Atlantic Power (NYSE:AT), including David M. Markowitz’s Oskie Capital Management, which held a position valued at $5.36 million, and James Dondero’s Highland Capital Management, with a $400,000 position. While Ken Griffin’s Citadel Investment Group initiated a new position in the company during the quarter valued at $222,000 on June 30, Jim Simons’ Renaissance Technologies decided to dump Atlantic Power (NYSE:AT), selling off its position which had been valued at $121,000 at the end of March.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name	Shared Voting Power	Shared Dispositive Power	Aggregate Amount Owned Power	Percent of Class
THE MANGROVE PARTNERS MASTER FUND, LTD	7,679,214	7,679,214	7,679,214	6.4%
THE MANGROVE PARTNERS FUND	7,679,214	7,679,214	7,679,214	6.4%
MANGROVE PARTNERS FUND (CAYMAN), LTD	7,679,214	7,679,214	7,679,214	6.4%
MANGROVE PARTNERS	7,679,214	7,679,214	7,679,214	6.4%
MANGROVE CAPITAL	7,679,214	7,679,214	7,679,214	6.4%
NATHANIEL AUGUST	7,679,214	7,679,214	7,679,214	6.4%

Nathaniel August

Mangrove Partners

Page 1 of 12 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

§ 240.13d-2(a)

(Amendment No. 2)1

Atlantic Power Corporation

(Name of Issuer)

Common Stock, no par value

(Title of Class of Securities)

04878Q863

(CUSIP Number)

STEVE WOLOSKY, ESQ.

OLSHAN FROME WOLOSKY LLP

1325 Avenue of the Americas

New York, New York 10019

(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

August 16, 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).