Sunopta Inc. (STKL): West Face Capital Continues To Sell Shares

A newly-amended 13D filing with the SEC revealed that Greg Boland‘s West Face Capital has further decreased its stake in Sunopta Inc. (NASDAQ:STKL), with it currently owning 4.25 million shares, which represent 4.97% of the company’s outstanding stock. Previously, West Face Capital held 6.35 million shares, which accounted for 7.4% of the stock’s float, as per its previous 13D filing on the company dated August 19.

SunOpta is a health food company engaged in the production of non-genetically modified food, operating in two divisions: Global Ingredients and Consumer Products. Since the beginning of the year, the company’s stock has lost 9.73%. In its financial report for the second quarter of 2016, SunOpta reported a loss per share of $0.05 and revenue of $348.15 million, compared to EPS of $0.07 and revenue of $277.59 million for the same quarter a year earlier.

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Among the pool of successful investors followed by Insider Monkey, 17 reported long positions in Sunopta (NASDAQ:STKL) as of the end of June, down by one from the end of March. Some of the bullish investors included Jason Karp’s Tourbillon Capital Partners, which held a position worth around $35.41 million, Chuck Royce’s Royce & Associates, with a $5.87 million position, Ken Griffin’s Citadel Investment Group, Matthew Knauer and Mina Faltas’ Nokota Management, Jim Simons’ Renaissance Technologies, and Mario Gabelli’s GAMCO Investors.

Some of the new investors in the stock during the quarter encompassed John Segrich and Michael Molnar’s Lorem Ipsum Management, which had $733,000 invested in the company, Youlia Miteva’s Proxima Capital Management, which initiated a position valued at $648,000 on June 30, and Gavin Saitowitz and Cisco J. Del Valle’s Springbok Capital.

You can access the original SEC filing by clicking here.

Ownership Summary Table

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