{"id":2926,"date":"2017-09-08T17:00:43","date_gmt":"2017-09-08T21:00:43","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=2926"},"modified":"2017-09-08T17:02:09","modified_gmt":"2017-09-08T21:02:09","slug":"weekly-secondary-performance-week-ending-9817","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/weekly-secondary-performance-week-ending-9817\/","title":{"rendered":"Weekly Secondary Performance – Week ending 9\/8\/17"},"content":{"rendered":"

You can Subscribe to IPO Boutique\u2019s Secondary Only Service by clicking here<\/a>:<\/h4>\n

This past week 18 secondary offerings came to market and IPO Boutique placed BUY ratings on 8 of them. In all, $5.4bn was raised by companies in the secondary market this week.<\/span><\/p>\n

The average gain of IPO Boutique <\/span>BUY<\/b> rated offerings this week at<\/span> first trade was 3.0%<\/b><\/p>\n

‘The average gain of IPO Boutique <\/span>Neutral<\/b> rated offerings this week at <\/span>first trade was 0.8%.<\/b>\"IPO<\/a><\/p>\n

The last 20 IPO Boutique \u2018BUY\u2019 rated secondary offerings have produced an <\/span>average gain of 2.31%<\/b> at first trade and an <\/span>average gain of 4.19% <\/b>at the high of their first-day of trading.<\/span><\/p>\n

It was a first active week for secondary offerings since the middle of August as a number of companies launched marketed deals this week. Two of the best deals this week were <\/span>Insmed Inc (INSM)<\/b> and <\/span>2U Inc (TWOU)<\/b> which opened 4.2% and 2.6% above their offering prices respectively. Each of these stocks traded extremely well in the aftermarket and closed their offering days up 7.4% and 10.2%, respectively. IPO Boutique placed BUY ratings on each of these.<\/span><\/p>\n

One of the largest offerings this week was <\/span>GoDaddy<\/b>\u2019s $882m overnight cash raise. Morgan Stanley and Goldman Sachs priced the 20.05mm share offering at $44.00 — a 2.6% discount to a $45.18 trade. The offering opened -0.4% and never traded above its $44.00 final pricing on its offering day.<\/span><\/p>\n

Another disappointing secondary offering was the performance of <\/span>Alteryx (AYX)<\/b>. The company utilized the SEC\u2019s new \u2018confidential filing\u2019 rules but marketed its offering for a full two days. Despite being a reported three-times oversubscribed, the deal opened 2.1% below its $21.25 offering price and was under pressure all day. The deal ultimately closed 8.1% below the offering price. This is a clear indication that companies and banks need to re-examine the process of launching a deal after confidentially filing an offering as it is being met with pushback by investors. The Alteryx disaster was the second such occurrence as Floor & Decor (FND) struggled mightily in its confidentially filed follow-on offering in July (closed 3.8% below offering price).<\/span><\/p>\n

There is currently one secondary offerings on the schedule for the upcoming week, <\/span>Grupo Supervielle S.A. (SUPV).<\/b><\/p>\n

\"Weekly<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

You can Subscribe to IPO Boutique\u2019s Secondary Only Service by clicking here: This past week 18 secondary offerings came to market and IPO Boutique placed BUY ratings on 8 of them. In all, $5.4bn was raised by companies in the secondary market this week. The average gain of IPO Boutique BUY rated offerings this week[…]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[1],"tags":[],"class_list":["post-2926","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=2926"}],"version-history":[{"count":3,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2926\/revisions"}],"predecessor-version":[{"id":2931,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2926\/revisions\/2931"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=2926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=2926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=2926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}