Marcato Reveals an Activist Stake in Life Time Fitness

Richard McGuire’s activist firm moves on from Sotheby’s. Shares of the health club company rose 12 percent after the hedge fund firm reveals its position.

At the end of the first quarter, Richard McGuire III’s Marcato Capital Management teased investors that among its new positions were two undisclosed stocks that the firm hinted are likely to result in activist campaigns.

On Wednesday afternoon investors learned the identity of one of the two stocks.

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