{"id":4337,"date":"2018-05-18T15:57:27","date_gmt":"2018-05-18T19:57:27","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=4337"},"modified":"2018-05-18T16:04:33","modified_gmt":"2018-05-18T20:04:33","slug":"weekly-secondary-performance-report-5-18-18","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/weekly-secondary-performance-report-5-18-18\/","title":{"rendered":"Weekly Secondary Performance Report (5.18.18)"},"content":{"rendered":"

IPO BOUTIQUE<\/strong>\u00a0is one of the few syndicate services that provides ratings on all secondary offerings (Spots, blocks, marketed). We use our database of historical performances, underwriter trends and more than 40 years of syndicate experience to give our clients a leg up. We meticulously keep records of our ratings. If interested please click below to inquire or email: JZell@IPOBoutique.Com<\/em><\/p>\n

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

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

 <\/p>\n

This past week <\/span>16 secondary offerings<\/b> came to market in another light week and IPO Boutique placed<\/span> BUY<\/b> ratings on <\/span>6<\/b> of them. In all, $2.1bn was raised by companies…a much lighter figure than last week’s $5.3bn.<\/span><\/p>\n

The average gain of IPO Boutique <\/span>BUY<\/b> rated offerings this week at<\/span> first trade was 3.1%<\/b><\/p>\n

The average gain of IPO Boutique <\/span>Neutral<\/b> rated offerings this week at <\/span>first trade was -0.3%. <\/b><\/p>\n

The last 20 IPO Boutique \u2018BUY\u2019 rated secondary offerings have produced an <\/span>average gain of 3.2%<\/b> at first trade and an <\/span>average gain of 6.9% <\/b>at the high of their first-day of trading.<\/span><\/p>\n

The secondary market continued to have strong returns but was marred by the $1bn+ block offering that was ultimately postponed — <\/span>IQVIA Holdings (IQV)<\/b>. The deal priced 10.0mm at $101.85 versus a last trade of $102.10. Similar to most Morgan Stanley blocks, the deal opened below issue price, in this case a $101.35 opening print. Around midday, the FDA released news calling into question some of IQVIA Holdings\u2019 data which put immediate pressure on the stock causing an immediate halt. The company issued a statement in which they stood by their methodologies and even re-affirmed Q2 and full year guidance. As expected, lawyers became heavily involved. With these unique set of circumstances…there is the ability, providing it is done<\/span> before settlement day,<\/b> to \u201cbust\u201d all trades. Settlement day was Friday (5\/18) and ultimately it was decided that this would be the course of action. Without this decision, there would inevitably have been a cavalcade of class action suits.<\/span><\/p>\n

Marketed offerings continued to outperform as the six deals that had a multi-day book-build opened +3.7% at first trade on average. <\/span>CURO Group Holdings (CURO), Primo Water Corp (PRMW)<\/b> and<\/span> Axon Enterprise Inc (AAXN)<\/b> were the three best deals of the week and opened with 7.9%, 6.0% and 4.3% returns at first trades, respectively. <\/span><\/p>\n

Another encouraging sign for the secondary market was that the offerings, as a whole, traded up during their initial sessions. The average price at first trade for the 16 offerings this week were 1.0% and the average close was 1.6%<\/span><\/p>\n

There are currently zero secondary offerings on the schedule for next week.<\/span><\/p>\n

\"WeeklySecondaryPerformanceReport5.18.18\"<\/a><\/p>\n

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

IPO BOUTIQUE\u00a0is one of the few syndicate services that provides ratings on all secondary offerings (Spots, blocks, marketed). We use our database of historical performances, underwriter trends and more than 40 years of syndicate experience to give our clients a leg up. We meticulously keep records of our ratings. If interested please click below to[…]<\/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":[35],"tags":[],"class_list":["post-4337","post","type-post","status-publish","format-standard","hentry","category-secondary-offerings"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/4337","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=4337"}],"version-history":[{"count":5,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/4337\/revisions"}],"predecessor-version":[{"id":4344,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/4337\/revisions\/4344"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=4337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=4337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=4337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}