Weekly Secondary Performance Report – 5.4.18

IPO BOUTIQUE is one of the few syndicate services that provides ratings on all secondary offerings (Spots, blocks, marketed). We use our database of historical performances, underwriter trends and more than 40 years of syndicate experience to give our clients a leg up. We meticulously keep records of our ratings. If interested please click below to inquire or email: JZell@IPOBoutique.Com

You can Subscribe to IPO Boutique’s Secondary Only Service by clicking here:

This past week 10 secondary offerings came to market in another light week and IPO Boutique placed BUY ratings on 7 of them. In all, $4.17bn was raised by companies in the secondary market this week.

The average gain of IPO Boutique BUY rated offerings this week at first trade was 3.4%

The average gain of IPO Boutique Neutral rated offerings this week at first trade was 2.0%.

The last 20 IPO Boutique ‘BUY’ rated secondary offerings have produced an average gain of 2.3% at first trade and an average gain of 6.2% at the high of their first-day of trading.

It was another light week in terms of quantity but not in cash raised by the equity capital markets via secondary offerings. A $2.6bn transaction of Centene Corporation (CNC) came to market with very strong success. The deal came at $107.50 or a 1.2% discount to the $108.77 last trade. CNC opened at just $107.87 but traded to a high of $115.88 before closing out the session at $114.28 for a gain of 6.3% at the close. Given the size of the offering, it turned out to be one of the very best secondary offering for traders who did not sell immediately at the open.

Other secondary offerings that outperformed included InflaRX N.V. (IFRX), Karyopharm Therapeutics (KPTI) and Gardner-Denver Holdings (GDI) with gains of 4.7%, 1.8% and 1.1% at first trade, respectively.

There are currently zero secondary offerings on the schedule for next week.