Secondaries Announced 12.4.17

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Our Buy, Neutral or Avoid ratings of the Secondaries below are intended as a recommendation for those who buy Secondaries on a regular basis. For example, this is not to be interpreted as a Buy recommendation in the traditional sense of adding to your stock portfolio; this is a short term (usually one day or opening trade) time period.

Company: Clearsign Combustion Corporation
Symbol: CLIR
Price: Last Trade $2.15
Trade Date: 12/6
Shares: 3.4 million shares
Underwriter(s) : Ladenburg Thalmann
Description: They design and develop technologies for the purpose of improving key performance characteristics of combustion systems, including emission and operational performance, energy efficiency and overall cost-effectiveness.
Rating = Subscription Needed

Company: Tabula Rasa HealthCare, Inc
Symbol: TRHC
Price: Last Trade $32.65
Trade Date: 12/6
Shares: 3 million
Underwriter(s) : Piper Jaffray, Citigroup, Baird, William Blair
Co-Manager(s): Oppenheimer, First Analysis Securities
Description: Tabula Rasa HealthCare is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs, and manage risk.
Rating = Subscription Needed

Company: Heron Therapeutics
Symbol: HRTX
Price: Last Trade $17.15
Trade Date: 12/5
Shares: 9.4 million ($150 million cash raise)
Re-Offer Range: Subscription Needed
Underwriter(s) : Cantor Fitzgerald
Description: They are a commercial-stage biotechnology company focused on improving the lives of patients by developing best-in-class treatments to address some of the most important unmet patient needs
Rating = Subscription Needed

 

Company: At Home Group
Symbol: HOME
Price: Last Trade $28.39
Trade Date: 12/7
Shares: 6 million
Underwriter(s) : BofA Merrill Lynch, Goldman Sachs, Jefferies, Barclays, Guggenheim, Morgan Stanley
Co-Manager: William Blair, KeyBanc Capital
Description: They are the home décor superstore, offers more than 50,000 on-trend home products to fit any budget or style, from sofas, dining sets, mattresses and patio furniture to lamps, pillows, kitchenware, rugs and more, plus seasonal décor that includes yard displays, lights and Christmas trees.
Rating = Subscription Needed

Company: Performance Food Group Company- BLOCK
Symbol: PFGC
Price: Last Trade $31.15
Trade Date: 12/5
Shares: 6.27 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Barclays
Description: The Company markets and distributes approximately 150,000 food and food-related products from 76 distribution centers to over 150,000 customer locations across the United States.
Rating = Subscription Needed

Company: MGM Resorts International
Symbol: MGM
Price: Last Trade $34.22
Trade Date: 12/5
Shares: 10 million
Re-Offer Range: Subscription Needed
Underwriter(s) : UBS Investment Bank
Description: They are a real estate investment trust that invests in large-scale destination entertainment and leisure resorts
Rating = Subscription Needed

Company: Orion Engineered Carbons S.A.-BLOCK
Symbol: OEC
Price: Last Trade $23.95
Trade Date: 12/5
Shares: 12.66 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Goldman Sachs, Morgan Stanley
Description: Orion is a worldwide supplier of Carbon Black.
Rating = Subscription Needed

Company: GoDaddy, Inc.-BLOCK
Symbol: GDDY
Price: Last Trade $47.32
Trade Date: 12/5
Shares: 7.3 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Morgan Stanley
Description: GoDaddy powers the world’s largest cloud platform dedicated to small, independent ventures.
Rating = Subscription Needed

Company: BlackLine, Inc.-BLOCK
Symbol: BL
Price: Last Trade $35.80
Trade Date: 12/5
Shares: 4.5 million
Re-Offer Range: Subscription Needed
Underwriter(s) : J.P. Morgan
Description: BlackLine, Inc. is a provider of cloud-based solutions for Finance & Accounting (F&A) that automate, centralize and streamline financial close operations and other key F&A processes for large and midsize organizations.
Rating = Subscription Needed

Company: Installed Building Products – Block
Symbol: IBP
Price: Last Trade $76.55
Trade Date: 12/5
Shares: TBD
Re-Offer Range: Subscription Needed
Underwriter(s) : Deutsche Bank
Description: They are an industry-leading installer of insulation products.
Rating = Subscription Needed