Investor Cat Rock cuts stake in Just Eat Takeaway, says still committed

AMSTERDAM -U.S. investor Cat Rock, previously the second-largest shareholder in meal delivery firm Just Eat Takeaway.com, has sold part of its stake, according to an SEC filing.

"Cat Rock remains firm in its belief that Just Eat Takeaway is significantly undervalued and has strong long-term prospects", the firm said in a statement.

The filing on Dec. 15 showed the stake standing at 4.93% with 10.65 million shares as of Dec. 12. Refinitiv data showed the investor had previously held around 14.79 million shares, or 6.85%.

The largest shareholders in Just Eat are now founder Jitse Groen with 7.1%, Baupost Group with 6.5%, Caledonia Investments with 6.15%, and UBS Asset Management with 5.85%.