Insider Sale form 4
Second sale of the day for this one.
CSX Mantle Ridge 2,780,000/sh at $64.42
$179,087,600
Total sales filed today= $300,576,924
Mantle Ride is only invested in CSX
Mantle Ridge Up to Nearly
$2 Billion on CSX Play
Former Pershing Square partner Paul Hilal’s activist stake in CSX railroad has reaped huge early gains — but there’s a big catch.
Paul Hilal’s new Mantle Ridge activist fund, a special-purpose vehicle launched last summer after he left Bill Ackman’s Pershing Square Capital Management, has almost hit the $2 billion mark, after raising some $1.2 billion last fall and winter.
Since then Mantle Ridge has made about $700 million in performance gains from its single investment in CSX Corp., the U.S. railroad, after convincing the company to hire Hunter Harrison as CEO earlier this year, says Kenneth Squire, the head of 13D Monitor, which tracks activist investors. There’s just one catch: Hilal has to hold onto those gains for years to get paid, and right now that is looking like a tall order.
https://www.institutionalinvestor.com/article/b1505q2v83gm50/mantle-ridge-up-to-nearly-$2-billion-on-csx-play
https://www.finviz.com/insidertrading.ashx?tc=2