Market Overview

Carl Icahn Now Largest Shareholder In Seventy Seven Energy

Related SSE
UPDATE: Morgan Stanley Initiates Coverage On Seventy Seven Energy On High Leverage Growth Story, Execution Risk
UPDATE: Wunderlich Securities Initiates Coverage On Seventy Seven Energy On Compelling Value

Shares of Seventy Seven Energy (NYSE: SSE) have popped in the post-market trading session Wednesday after activist investor Carl Icahn divulged a rather large stake in the company.

A 13D filing to the SEC from Icahn showed he owns nearly 4.75 million shares of Seventy Seven Energy, about a 9.98 percent stake.

The stock last traded at $25.70, up more than four percent from Wednesday's closing price.

Shares of the Seventy Seven began trading just last week at around $23.75 per share, hitting a high of $27 over the next few days. The stock has come in with the overall market since Monday, hovering near its original debut price at Wednesday's close of trading.

Posted-In: News Hedge Funds Top Stories Hot Movers General

 

Most Popular

Related Articles (SSE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters