5 Stocks Billionaire Larry Robbins Just Bought and Sold

In this piece, we will take a look at the five stocks that billionaire Larry Robbins just bought and sold. To learn more about the billionaire hedge fund boss and all his latest moves, check out 12 Stocks Billionaire Larry Robbins Just Bought and Sold.

5. Global Payments Inc. (NYSE:GPN)

Glenview Capital’s Q3 2023 Investment: $213 million

Bought Or Sold: Sold

Percentage Increase or (-)Decrease: -18%

Global Payments Inc. (NYSE:GPN) is a financial technology company that provides payment solutions to businesses and consumers. Even though the firm has beaten analyst EPS estimates in all four of its latest quarters and its shares are rated Strong Buy on average, Larry Robbins’ Glenview Capital reduced its stake in Global Payments Inc. (NYSE:GPN) in Q3 by 18%.

In the previous quarter, 55 out of the 910 hedge funds profiled by Insider Monkey had bought and owned Global Payments Inc. (NYSE:GPN)’s quarter. Its largest Q3 2023 hedge fund shareholder was William B. Gray’s Orbis Investment Management due to a $824 million stake.

4. Universal Health Services, Inc. (NYSE:UHS)

Glenview Capital’s Q3 2023 Investment: $220 million

Bought Or Sold: Bought

Percentage Increase or (-)Decrease: 25%

Universal Health Services, Inc. (NYSE:UHS) is an American firm that operates hospitals and other related establishments. The firm had a solid third quarter that saw it beat Wall Street revenue estimates by posting $3.6 billion in the metric which also posted a 6.8% annual growth.

As of June 2023, 38 out of the 910 hedge funds part of Insider Monkey’s database had invested in the firm. Universal Health Services, Inc. (NYSE:UHS)’s largest hedge fund investor during the September quarter was Jean-Marie Eveillard’s First Eagle Investment Management as it owned $583 million worth of shares.

3. The Cigna Group (NYSE:CI)

Glenview Capital’s Q3 2023 Investment: $443 million

Bought Or Sold: Sold

Percentage Increase or (-)Decrease: -26%

The Cigna Group (NYSE:CI) is a healthcare plans, benefits, and other associated products provider. These days, it is looking to bolster its revenues as its pharmacy benefits management division announced a new cost based pricing plan in November 2023.

After digging through 910 hedge fund portfolios for their June quarter of 2023 shareholdings, Insider Monkey discovered 74 The Cigna Group (NYSE:CI) shareholders. By September 2023 end, the largest stakeholder in our database was Larry Robbins’ Glenview Capital as it owned 1.5 million shares that were worth $443 million.

2. Tenet Healthcare Corporation (NYSE:THC)

Glenview Capital’s Q3 2023 Investment: $452 million

Bought Or Sold: Bought

Percentage Increase or (-)Decrease: 7%

Tenet Healthcare Corporation (NYSE:THC) is another hospital operator. It is seeking to generate billions of dollars in cash right now, and for this purpose, Tenet Healthcare Corporation (NYSE:THC) plans to sell three hospitals for a $2.4 billion price tag.

As of June 2023, 74 among the 910 hedge funds tracked by Insider Monkey were the firm’s investors. Tenet Healthcare Corporation (NYSE:THC)’s biggest hedge fund investor in Q3 was Larry Robbins’ Glenview Capital due to its $452 million stake.

1. Element Solutions Inc (NYSE:ESI)

Glenview Capital’s Q3 2023 Investment: $545 million

Bought Or Sold: Bought

Percentage Increase or (-)Decrease: 10%

Element Solutions Inc (NYSE:ESI) is a chemicals company that provides products for industrial use. It is a dividend paying stock with an 8 cent dividend per share. Element Solutions Inc (NYSE:ESI) has beaten analyst EPS estimates in all four of its latest quarters and analysts have rated the stock as Buy on average.

34 out of the 910 hedge funds profiled by Insider Monkey had held a stake in Element Solutions Inc (NYSE:ESI) during Q2 2023. In Q3, the firm’s largest stakeholder was Jeffrey Gates’ Gates Capital Management since it owned $159 million worth of shares.

Disclosure: None. You can also take a look at 11 Undervalued Insurance Stocks To Buy Now and Jim Cramer Recommends Selling These 10 Stocks.

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