Published on 18 Aug 2023 on GuruFocus.com via Yahoo Finance

Glendon Capital Management LP Boosts Stake in Independence Contract Drilling Inc

Glendon Capital Management LP, a renowned investment firm, has recently increased its stake in Independence Contract Drilling Inc (NYSE:ICD). This article will delve into the details of the transaction, provide an overview of the guru and the traded company, and analyze the performance and prospects of the traded stock.

Details of the Transaction

The transaction took place on August 16, 2023, with Glendon Capital Management LP adding 1,036,133 shares of Independence Contract Drilling Inc to its portfolio. This move resulted in a 202.58% change in shares, impacting the firm's portfolio by 0.32%. The shares were acquired at a price of $2.97 each, bringing the total shares held by the firm to 1,547,614. This represents 0.48% of the firm's portfolio and 9.90% of the traded company's shares.