Peabody Energy Corp (OTCMKTS:BTUUQ) has a new investor according to a recent 13D filing with the SEC. Nathaniel August‘s Mangrove Partners found the company’s shares undervalued and decided to purchase 971,058 of them, creating a stake in the company that accounts for 5.2% of the float. On June 30, the fund held no shares in Peabody Energy. The new filing also revealed that Mangrove Partners is in the process of hiring financial advisers to help it pursue the formation of an official equity committee and with the intent of maintaining and building on the substantial value that the fund sees in the company’s shares. The fund also plans to talk with other shareholders concerning those issues.
Peabody Energy Corp (OTCMKTS:BTUUQ) is a large coal mining company, whose stock has gained 2.47% since the beginning of the year. The company was recently declared the most responsible mining company for the current year by Capital Finance International.
None of the investors within Insider Monkey’s database were shareholders of Peabody Energy Corp (OTCMKTS:BTUUQ) at the end of June, after all eight funds which had positions in it at the end of March discarded those stakes after the company was delisted from the NYSE in early-April.
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You can access the original SEC filing by clicking here.
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 | 0 | 971,058 | 0 | 971,058 | 971,058 | 5.2% |
| The Mangrove Partners Fund | 0 | 971,058 | 0 | 971,058 | 971,058 | 5.2% |
| The Mangrove Partners Fund (Cayman), Ltd | 0 | 971,058 | 0 | 971,058 | 971,058 | 5.2% |
| Mangrove Partners | 0 | 971,058 | 0 | 971,058 | 971,058 | 5.2% |
| Mangrove Capital | 0 | 971,058 | 0 | 971,058 | 971,058 | 5.2% |
| Nathaniel August | 0 | 971,058 | 0 | 971,058 | 971,058 | 5.2% |
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Page 1 of 14 – SEC Filing
