TransUnion (TRU) Stock Slides, Expects Large Holder to Sell Shares

NEW YORK (TheStreet) -- TransUnion (TRU) stock is slumping by 1.09% to $32.81 on heavy trading volume late Tuesday afternoon, as the credit-tracking service expects Advent International to sell about 15.7 million shares of the company, the Wall Street Journal reports.

This amounts to roughly an 8.7% stake.

Advent and Goldman Sachs Group acquired TransUnion in a $3 billion deal in 2012. When TransUnion went public last year, Advent and Goldman each kept nearly 35% of the company.

Advent will receive all the proceeds from the sale, and TransUnion won't sell any shares itself, according to a regulatory filing, the Journal adds. Advent intended to offer the shares in an underwritten secondary offering, and had given the underwriters a 30-day option to purchase another 2.3 million shares.

About 6.13 million shares of the Chicago-based company have been traded so far today, well above its average trading volume of roughly 711,135 shares per day.

More from Markets

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%