GoldenTree asset management purchases Mallinckrodt shares worth over $720k By Investing.com

In a recent transaction, GoldenTree Asset Management LP, along with its related entities, has made a significant purchase of shares in Mallinckrodt (OTC:) plc (NYSE:MNKTQ), a pharmaceutical company. The investment firm acquired 13,300 shares at a price of $54.50 per share, amounting to a total investment of $724,850.

GoldenTree Asset Management LP is known for its active management of various funds and separate accounts, and this acquisition is part of its investment activities. It’s important to note that while GoldenTree Asset Management LP, its general partner GoldenTree Asset Management LLC, and Steven A. Tananbaum, the managing member of the general partner, are reporting persons for this transaction, they have disclaimed beneficial ownership of the shares held by the funds they manage.

The transaction, which took place on July 8, 2024, was reported in a recent SEC filing. According to the filing, the shares purchased are classified as ordinary shares and are held indirectly by the investment firm. The total number of shares owned following this transaction has reached 3,327,335 for the funds managed by GoldenTree Asset Management LP and 20,000 shares directly held by Mr. Tananbaum.

Investors often keep a close watch on the buying and selling activities of major investment firms such as GoldenTree Asset Management LP, as these can indicate the firm’s confidence in the future performance of the companies in which they invest. The recent purchase in Mallinckrodt plc by GoldenTree Asset Management LP is one such transaction that could be of interest to investors monitoring the pharmaceutical sector and the investment strategies of significant asset management firms.

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