Sunopta Inc. (STKL): West Face Capital Lowers Its Stake

Greg Boland‘s West Face Capital recently reported lowering its stake in Sunopta Inc. (NASDAQ:STKL) via an amended 13D filing with the Securities and Exchange Commission. According to the filing, the fund has sold 550,000 common shares of the company, decreasing its stake in it to 6.35 million common shares, which amass 7.4% of SunOpta’s outstanding stock.

SunOpta is a health food company engaged in organic food production which works through two sectors: Consumer Products and Global Ingredients. Over the past 12 months, the company’s stock has lost 23.14%. For the second quarter of fiscal year 2016, SunOpta disclosed earnings per share of $0.05 and revenue of $348.15 million, both falling below analysts’ estimates of a loss per share of $0.03 and revenue of $361.55 million. Earlier this month, DA Davidson boosted its price target on SunOpta’s stock to $7.50 from $7.00 and has a ‘Buy’ rating on it.

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At the end of June, investors in our database long Sunopta Inc. (NASDAQ:STKL) included Jason Karp’s Tourbillon Capital Partners, with a position worth $35.41 million, Chuck Royce’s Royce & Associates with a $5.9 million position, Ken Griffin’s Citadel Investment Group, and Matthew Knauer and Mina Faltas’ Nokota Management. New investors of the stock during the second quarter were John Segrich and Michael Molnar’s Lorem Ipsum Management, which had $733,000 invested in the company by the end of the quarter, Youlia Miteva’s Proxima Capital Management, which acquired a $648,000 position, and Jacob Gottlieb’s Visium Asset Management. An investor who lost optimism for Sunopta (NASDAQ:STKL) and sold off its position which had been valued at $62,000 at the end of March was Paul Marshall and Ian Wace’s Marshall Wace LLP.

You can access the original SEC filing by clicking here.

Ownership Summary Table

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