Cardlytics, Immunocore, and More Stocks See Action From Activist Investors

CAS Investment Partners disclosed a position of 5,416,116 shares in the digital-advertising platform, 14.4% of the firm’s tradable stock. On Sept. 19, Cardlytics and CAS Investment entered into a cooperation agreement that led to the appointment of Alex Mishurov, CEO and chief investment officer of KPS Global Asset Management, as an independent director.

Per the agreement, Cardlytics increased the size of its board to nine to accommodate Mishurov, who will serve through the 2025 annual shareholder meeting and join the nominating and governance, compensation, and transaction committees. In return, CAS Investment agreed to customary standstill provisions, and will vote all eligible Cardlytics shares in support of board recommendations that require shareholder approval.

Cardlytics stock rose to a 52-week intraday high of $19.57 on Sept. 15. Strong quarterly reports and upbeat guidance have powered Cardlytics shares in 2023, and they have more than doubled this year.General Atlantic trimmed its stake in the U.K.-based pharmaceutical company to 2,606,684 American depositary receipts. From Aug. 14 to Aug. 23, General Atlantic sold 249,213 Immunocore ADRs at prices ranging from $60.10 to $60.66 apiece, lowering its position to 5.3% of the outstanding stock.

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