{"id":5405,"date":"2018-09-28T13:44:12","date_gmt":"2018-09-28T17:44:12","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=5405"},"modified":"2018-09-28T13:44:12","modified_gmt":"2018-09-28T17:44:12","slug":"weekly-secondary-performance-report-9-28-18","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/weekly-secondary-performance-report-9-28-18\/","title":{"rendered":"Weekly Secondary Performance Report (9.28.18)"},"content":{"rendered":"

This past week <\/span>17 secondary offerings<\/b> came to market and IPO Boutique placed<\/span> BUY<\/b> ratings on <\/span>7<\/b> of them. The amount of cash raised by underwriters through secondary offerings (spot, blocks, etc.) was $4.67bn. <\/span><\/p>\n

The average gain of IPO Boutique <\/span>BUY<\/b> rated offerings this week at<\/span> first trade was 1.5%<\/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 1.7%<\/b> at first trade.<\/span><\/p>\n

\"\"The sec<\/span>o<\/span>ndary market was again challenging this week as many offerings were under pressure i<\/span>n the premarket before rebounding.<\/span><\/p>\n

The two largest offerings of the week were <\/span>CenterPoint Energy ($1.65bn common) and Digital Realty Trust ($965m)<\/b> and both produced positive results. CenterPoint opened at $27.42 after pricing at $27.25 — a result typical of a utility. The data center REIT, Digital Realty Trust, was trading well under issue in the premarket before rallying upon opening. DLR traded as high as $114.90 versus an issue price of $113 for nice gains on a large offering.<\/span><\/p>\n

The best performances this week from cash raises greater than $25m were <\/span>AnaptysBio (ANAP), PetIQ (PETQ) <\/b>and <\/span>Nightstar Therapeutics (NITE)<\/b> with gains of 4.7%, 4.6% and 4.5% at first trade, respectively. <\/span><\/p>\n

IPO Boutique BUY rated offerings traded well in the aftermarket as the seven deals we rated as \u201cBUY\u2019 finished their sessions at +2.9% on average versus a +1.5% clip at first trade. While this week was challenging from a secondary offering perspective, it proved to have much more successful results versus last week.<\/span><\/p>\n

There are currently no secondaries on the schedule for next week.<\/span><\/p>\n

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

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

This past week 17 secondary offerings came to market and IPO Boutique placed BUY ratings on 7 of them. The amount of cash raised by underwriters through secondary offerings (spot, blocks, etc.) was $4.67bn.<\/p>\n","protected":false},"author":4,"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":[35,1536],"tags":[],"class_list":["post-5405","post","type-post","status-publish","format-standard","hentry","category-secondary-offerings","category-subscriber-content"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/5405","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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=5405"}],"version-history":[{"count":1,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/5405\/revisions"}],"predecessor-version":[{"id":5408,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/5405\/revisions\/5408"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=5405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=5405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=5405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}