Amici Capital Initiates A Huge Position in YRC Worldwide, Inc.(NASDAQ:YRCW)

Amici Capital LLC, managed by Paul Orlin and Alex Porter, initiated a huge position in YRC Worldwide, Inc.(NASDAQ:YRCW). According to a recent filing with the SEC, Amici Capital acquired 0.9 million shares of the company. The stock currently trades at $23.13, and gained 11.5% so far in 2014. Amici Capital had no shares of the company before this transaction, as reported in a SEC 13F filing dated 11 Nov, 2013.

There are other hedge fund managers who have been bullish about YRC Worldwide, Inc. (NASDAQ:YRCW). Marc Lasry’s Avenue Capital has the most shares of YRC among the more than 300 hedge funds we track. He increased his position in the stock by 7 million shares a quarter earlier, and holds 31 million shares of the company as reported in the last quarter of 2013. Andy Redleaf’s Whitebox Advisors had $19 million invested in YRC’s convertible bonds. YRC had 3 insider purchases amounting to 1.6 million shares in 2013. On the other hand, insiders sold 1.4 million shares in a total of ten transactions.

In the equity portfolio of Amici Capital LLC, BioMarin Pharmaceutical Inc.(NASDAQ:BMRN) represents the biggest position with 2.1 million shares and a value of $157 million. Two other big positions Amici Capital holds are National-Oilwell Varco, Inc (NYSE:NOV) with 1.8 million shares a value of $146 million, and Assured Guaranty Ltd. (NYSE:AGO) with 6 million shares a value of $113 million.

YRC Worldwide, Inc.(NASDAQ:YRCW) has one of the largest, most comprehensive less-than-truckload (LTL) networks in North America with local, regional, national and international capabilities. The company is engaged in providing trucking services for the less-than-truckload category across North America. YRC Worldwide Inc was founded in 1924 and is headquartered in Overland Park, Kansas.

Disclosure: None

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