- Northern Oil & Gas (NYSEMKT:NOG) was one of the day's few gainers among oil and gas stocks, rising ~1% after Life Time Fitness founder and CEO Bahram Akradi disclosed a 5.28% stake in the company.
- Akradi says NOG shares are undervalued and an attractive investment, and he expects to engage in discussions with management, the board and other shareholders concerning the company's business and future plans; he paid ~$16M for 3.41M shares, according to an SEC filing.
- NOG has been hammered by the drop in oil prices over the past two years, and has suffered from turmoil in its top management.
Life Time Fitness CEO Akradi buys activist stake in Northern Oil and Gas
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About NOG Stock
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| Symbol | Last Price | % Chg |
|---|---|---|
| NOG | - | - |
| Northern Oil and Gas, Inc. | ||