In new filings with the U.S. Securities and Exchange Commission, Citadel Investment Group, the hedge led by Ken Griffin, disclosed boosting its passive stakes in CommVault Systems Inc. (NASDAQ:CVLT) and Rowan Companies PLC (NYSE:RDC).
Citadel reported ownership of 2.73 million shares of CommVault Systems Inc. (NASDAQ:CVLT), representing an increase from 1,196 shares the fund reported in its latest 13F. The stake is equal to 6.1% of the company’s common stock. In a separate filing, Citadel revealed upping its stake in Rowan Companies PLC (NYSE:RDC) to 6.44 million Class A ordinary shares from 2.87 million shares the fund held previously. The stake is passive is equates to 5.2% of the class.
Citadel Investment Group was founded by Ken Griffin in 1990, with assets under management of just $4.2 million. The fund now manages tens of billions of dollars, with nearly 1,000 employees and offices in 10 cities around the world. Griffin is a self-made billionaire and his fund is one of the largest funds in the world. In 2008, Griffin was one of the first 14 hedge fund managers to be deservedly inducted into the Institutional Investor’s Alpha Hedge Fund Hall of Fame. Citadel’s main funds are called Kensington and Wellington, which returned almost 25% in 2012 and 19.4% in 2013.
In 2014, Citadel continued its strong performance, returning around 15% through the end of September. As of the end of the third quarter of 2014, the fund’s equity portfolio totaled $79.8 billion. During the quarter, the fund had strong focus on Technology, Services, Financials, and Basic Materials stocks. Recently, Citadel disclosed upping its stake in Newfield Exploration Co. (NYSE:NFX) to 8.57 million shares, which represents 6.2% of the company’s common shares. The fund also seems to be big fan of Louisiana-Pacific Corporation (NYSE:LPX), in which it reported ownership of 7.27 million shares of the company, a massive increase from just over 600,000 shares the fund reported in its latest 13F.
Last month, Citadel reported raising its passive stakes in Ryland Group Inc (NYSE:RYL) and Astoria Financial Corp (NYSE:AF). The fund upped its exposure in Ryland Group Inc (NYSE:RYL) to around 2.37 million shares, from 1.79 million shares. In Astoria Financial Corp (NYSE:AF), the investor increased its position to 5.04 million shares from some 2.15 million shares. Following the changes, the investor owns 5.1% of Ryland Group and 5.0% of Astoria Financial.
Let’s discuss CommVault Systems Inc. (NASDAQ:CVLT) and Rowan Companies PLC (NYSE:RDC).
CommVault Systems Inc. (NASDAQ:CVLT) is engaged in providing data and information management software applications and related services. The company has a market cap of $2.0 billion. Share price of the company dropped by 34.89% since February 2014. On Thursday, the stock closed at $44.97. Analysts set the consensus average target price of the stock at $52.50, while the consensus average recommendation ‘Overweight’. For the fiscal 2015 third quarter December 31, the company posted total revenues of $153.0 million, which remains flat compared to the same quarter of the prior fiscal year. It reported net income of $3.1 million, down from $17.6 million in the last year. Under its share repurchase program, the company repurchased 1.03 million common stock shares, worth $50.0 million in the third quarter.
Among the largest shareholders of the company is Bain Capital’s Brookside Capital, which held 1.60 million shares as of the end of September 30, 2014. Another investor, First Eagle Investment Management disclosed, in its latest 13F filing, that it owns 1.47 million shares of CommVault Systems Inc. (NASDAQ:CVLT).
Rowan Companies PLC (NYSE:RDC) is engaged in providing international and domestic contract drilling services in the ultra-deepwater and shallow water jack-up market with a fleet of 34 offshore drilling units. The company has a market cap of $2.9 billion, and pays an annual dividend of $0.4, on a yield of 1.81. On Friday, the company’s stock is trading up by 1.99% at $22.55. During last one year, the stock fell by 29.69%.
Other largest shareholders of Rowan Companies PLC (NYSE:RDC) include Blue Harbour Group, led by Clifton S. Robbins, which disclosed holding 9.78 million shares of the company as of the end of September 30, 2014. Another investor is Israel Englander’s Millennium Management, which reported ownership of 6.07 shares of the company as of the end of September 30.
Disclosure: none
