(RTTNews) – Shares of Camping World Holdings, Inc. (CWH), an outdoor and camping retailer, are declining more than 7 percent or $2.70 in Thursday’s morning trade at $33.59 despite no specific news that could influence the stock.
Citing people familiar with the matter, Bloomberg reported that Crestview Partners is offering 6 million shares of Camping World for sale through Morgan Stanley at $35 to $35.50 per share. The offer price represents a maximum 3.6 percent discount to Camping World’s closing stock price on Wednesday.
The transaction will increase Camping World’s public float by 19 percent, according to the report. Crestview Partners is one of the largest shareholders of Camping World.
Camping World has traded in a range of $3.40 to $42.49 in the past 52 weeks.
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