Wasatch Advisors Cuts Neogen Stake to 4.3%, Below 5% Threshold
Ticker: NEOG · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 711377
| Field | Detail |
|---|---|
| Company | Neogen Corp (NEOG) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, SC-13G/A, investment-adviser
TL;DR
**Wasatch Advisors just cut its NEOG stake to 4.3%, signaling a potential bearish shift.**
AI Summary
Wasatch Advisors LP, an investment adviser, filed an amended SC 13G/A on February 9, 2024, for Neogen Corp. (NEOG). This filing indicates that Wasatch now beneficially owns 9,345,783 shares of Neogen's Common Stock, representing 4.3% of the class. This is a decrease from their previous holdings, as the filing now checks the box indicating ownership is 5% or less, which matters to investors because it signals a reduction in a significant institutional holder's stake, potentially impacting investor confidence or future stock performance.
Why It Matters
A major institutional investor reducing its stake below the 5% threshold can signal a shift in their investment strategy or outlook on Neogen, which could influence other investors' decisions.
Risk Assessment
Risk Level: medium — A significant institutional investor reducing its stake could indicate a perceived increase in risk or a less favorable outlook for the company.
Analyst Insight
Investors should monitor Neogen's stock performance and look for any further institutional ownership changes, as a reduction by a major holder like Wasatch Advisors could signal a less favorable outlook for the company. Consider researching the reasons behind Wasatch's reduced stake.
Key Numbers
- 9,345,783 — Shares Owned (Represents the total number of Neogen Common Stock shares Wasatch Advisors LP beneficially owns.)
- 4.3% — Percent of Class Owned (Indicates Wasatch Advisors LP's current ownership percentage of Neogen's Common Stock, which is now below the 5% reporting threshold.)
Key Players & Entities
- Wasatch Advisors LP (company) — the investment adviser filing the SC 13G/A
- Neogen Corp. (company) — the issuer of the securities
- 9,345,783 (dollar_amount) — the aggregate number of shares of Common Stock owned by Wasatch Advisors LP
- 4.3% (dollar_amount) — the percentage of Neogen's Common Stock owned by Wasatch Advisors LP
- February 9, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- Other institutional investors may re-evaluate their positions in Neogen Corp. following Wasatch Advisors LP's reduction below the 5% threshold. (Neogen Corp.) — medium confidence, target: Q2 2024
FAQ
What is the primary purpose of this SC 13G/A filing by Wasatch Advisors LP?
The primary purpose of this SC 13G/A filing is to amend previous Schedule 13G filings, specifically to report a change in beneficial ownership of Neogen Corp. Common Stock, indicating that Wasatch Advisors LP now owns 4.3% of the class, which is 5% or less.
How many shares of Neogen Corp. Common Stock does Wasatch Advisors LP beneficially own, according to this filing?
According to Item 9 and Item 4(a) of the filing, Wasatch Advisors LP beneficially owns an aggregate of 9,345,783 shares of Neogen Corp. Common Stock.
What percentage of Neogen Corp.'s Common Stock does Wasatch Advisors LP now own?
Wasatch Advisors LP now owns 4.3% of Neogen Corp.'s Common Stock, as stated in Item 11 and Item 4(b) of the filing.
What type of reporting person is Wasatch Advisors LP, as indicated in the filing?
Wasatch Advisors LP is identified as an 'IA' (Investment Adviser registered under section 203 of the Investment Advisers Act of 1940) in Item 12 and Item 3(e) of the filing.
What is the significance of the checkbox in Item 5 of the filing being marked?
The checkbox in Item 5, 'Check Box If Ownership Is 5% or Less of Class,' being marked with an 'X' signifies that Wasatch Advisors LP's beneficial ownership of Neogen Corp. Common Stock has fallen to 5% or below, which is a key reporting threshold.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 regarding NEOGEN CORP (NEOG).