Hudson Bay Capital Unloads Over 3 Million Shares of HC2 Holdings
According to a freshly-amended 13D filing with the SEC, Sander Gerber‘s Hudson Bay Capital Management has significantly decreased its stake in Hc2 Holdings Inc. (NYSEMKT:HCHC). The fund now holds 594,521 common shares, which amass 1.4% of the float. The fund’s stake was lowered from 3.73 million shares, which represented 8.9% of the company’s outstanding stock, as per its most recent 13D filing on the company prior to the current one.
HC2 Holdings is a holding company that runs seven divisions: Telecommunications, Manufacturing, Life Sciences, Insurance, Utilities, Marine Services, and Other. Recently, an HC2 Holdings’ portfolio company within one of its subsidiaries, MediBeacon, announced a cooperation with scientists at Washington University School of Medicine on a research project funded by the Bill & Melinda Gates Foundation.
Seven hedge funds from within Insider Monkey’s database reported holding long positions in Hc2 Holdings Inc. (NYSEMKT:HCHC) as of the end of June, down from 11 three months earlier.
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P2 Capital Partners Pushes Activist Stake in Blackhawk Network To Over 5%, Will Push for Change
Claus Moller‘s P2 Capital Partners filed a Form 13D with the Securities and Exchange Commission in which it reported raising its stake in Blackhawk Network Holdings Inc (NASDAQ:HAWK) to 3 million common shares, which represent 5.3% of the float. As per its 13F filing for the reporting period of June 30, the fund held 2.30 million shares. The latest filing also revealed that the acquisition of 700,000 shares was for the purpose of obtaining a significant equity position (5%) in Blackhawk Network so that the fund may start negotiations with the company’s management in order to initiate changes that would result in better shareholder value.
Blackhawk Network Holdings is a company that offers various prepaid products and professional payment services. Since the beginning of the year, the company’s stock has dropped by 18.34%. Recently, Blackhawk Network acquired Grass Roots Group Holdings, a company that offers professional employee engagement and customer engagement services. Earlier this month, Jefferies Group reiterated its ‘Buy’ rating on Blackhawk Network Holdings’ stock, with a price target of $43, while Wedbush reiterated its ‘Neutral’ rating, with a price target of $30. Lastly, Bank of America downgraded its rating on Blackhawk to ‘Neutral’ from ‘Buy’ and lowered its price target on it to $34 from $41.
Some of the investors in our database long Blackhawk on June 30 included Alok Agrawal’s Bloom Tree Partners, which held a position worth $56.29 million, Lee Hicks and Jan Koerner’s Park Presidio Capital, with a position valued at $25.86 million, Jim Simons’ Renaissance Technologies, Michael Barnes and Arif Inayatullah’s Tricadia Capital Management, and David Thomas’ Atalan Capital.
We’ll check out two other recent SEC filings on the next page.
Craig Drill Capital Boosts Stake in Syneron Medical to 5.17%
Craig Drill Capital‘s stake in Syneron Medical Ltd. (NASDAQ:ELOS) has gone up according to a new 13G filing with the SEC. Managed by Craig A. Drill, the fund’s holding of the stock stood at 160,000 Ordinary Shares at the end of the June quarter and has now climbed to 1.82 million Ordinary Shares or 5.17% of Syneron Medical’s outstanding stock.
Syneron Medical Ltd. (NASDAQ:ELOS) is a company that produces various products for the medical aesthetic industry. Since the beginning of the year, the company’s stock has lost 1.43%. Recently, the company announced its preliminary financial results for the third quarter, with it announcing that revenue should reach $70 million-to-$72 million; its complete results are scheduled for release on November 9.
At the end of June, 14 smart money managers from within our database were long Syneron Medical Ltd. (NASDAQ:ELOS), same as a quarter earlier. Among the bullish investors were Richard Mashaal’s RIMA Senvest Management, which held $29.56 million worth of Syneron Medical’s shares.
Billionaire Mario Gabelli’s GAMCO Investors Slightly Lowers Its Stake in Bioscrip
Billionaire Mario Gabelli‘s GAMCO Investors recently filed an amended Form 13D with the Securities and Exchange Commission in which it reported slightly lowering its stake in Bioscrip Inc. (NASDAQ:BIOS). The fund, together with its affiliates, holds 15.53 million shares of the company, which amass 13.19% of the float, while GAMCO solely owns 866,402 shares or 0.74% of the outstanding stock. According to its 13F filing for the June 30 reporting period, GAMCO held 904,402 Bioscrip common shares.
Bioscrip Inc. (NASDAQ:BIOS) is a company that provides infusion and home care management solutions, working with healthcare facilities and medical professionals. Over the past 12 months, the company’s shares have gained a robust 78.57%. For the second quarter of 2016, Bioscrip reported a loss per share of $0.14, and revenue of $232.46 million, compared to a loss per share of $3.63 and revenue of $246.9 million for the corresponding quarter of 2015.
According to Insider Monkey’s hedge fund database, 23 investors in it reported having long positions in Bioscrip Inc. (NASDAQ:BIOS) as of the end of June, up by ten from the end of the previous quarter. Among the bullish investors were Stephen Dubois’ Camber Capital Management, which held a position valued at $25.96 million, Ric Dillon’s Diamond Hill Capital, with a position worth $13.56 million, Phil Frohlich’s Prescott Group Capital Management, and Ken Griffin’s Citadel Investment Group.
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