5 Stocks To Sell Now According To David Einhorn’s Greenlight Capital

3. Concentrix Corporation (NASDAQ:CNXC)

Percentage of Decline in Stake in Q1: 100%

Number Of Hedge Fund Holders: 23

Next up on the list of stock to dispose of according to David Einhorn is Concentrix Corporation (NASDAQ:CNXC), an American business services company specializing in customer engagement and business performance. The company is a provider of customer experience solutions and optimization, front-and-back office automation, analytics, and customer lifecycle management.

On May 9, Concentrix Corporation (NASDAQ:CNXC) announced that it has reached a definitive agreement to acquire Servicesource International Inc (NASDAQ:SREV) for $1.50 per share in an all-cash transaction valued at approximately $131 million. The transaction is expected to close in the second half of the fiscal year 2022.

According to Insider Monkey’s database, 23 hedge funds reported holding stakes in Concentrix Corporation (NASDAQ:CNXC) at the end of December 2021, with stakes worth $391.3 million. This is compared to 21 funds in the previous quarter that held stakes worth $589.9 million. Lyrical Asset Management, the leading shareholder in Concentrix Corporation (NASDAQ:CNXC) during Q4 2021, held 767,000 shares of the firm valued at roughly $137 million.