Long-Term Returns of Dan Loeb’s 5 Activist Targets

4. Cano Health, Inc. (NYSE:CANO)

Stock Return: – 76%
Activist Investment: 2022

Cano Health, Inc. (NYSE:CANO) specializes in offering primary care medical services to members in the United States and Puerto Rico. It operates senior care failures and primary care clinics in the US. In 2022, Third Point took a stake in the company urging the board to explore a sale, citing market dislikes of companies that went public via SPACs.

Activist investor Loeb had also raised concerns about Cano Health, Inc. (NYSE:CANO)’s executive compensation, financial discipline, investor communication, and board composition. Consequently, he proposed four directors’ nominees for election at an annual meeting.

Third Point liquidated all its holdings in the stock before year-end, having seen the value of its stake in the stock decline by more than 76%.

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