Steve Cohen Is Bullish About $GNC

Steve Cohen’s SAC Capital disclosed a 4.8% stake in GNC Holdings (GNC). Steve Cohen had a minuscule amount of GNC at the end of second quarter, so this is really a brand new position for him. Steve Cohen probably paid around $24.75 for these shares at the end of November. Recently Ontario Teachers Pension Plan Board sold 1.5 million shares of GNC.

Tremblant Capital initiated a 2.5 million share position during the second quarter. David Keidan’s Buckingham Capital today disclosed a 340K share position in GNC as well. According to Yahoo Finance GNC Holdings, Inc. operates as a specialty retailer of health and wellness products. The company’s products include vitamins, minerals, and herbal supplement products, as well as sports nutrition products, diet products, and other wellness products. GNC sells its products under GNC proprietary brands, including Mega Men, Ultra Mega, GNC Wellbeing, Pro Performance, and Longevity Factors, as well as under nationally recognized third party brands. As of March 31, 2011, the company had approximately 7,300 locations, of which 5,600 retail locations were in the United States (comprising 895 franchise and 2029 Rite Aid franchise store-within-a-store locations) and franchise operations in 48 countries. GNC sells its products through company-owned retail stores, domestic and international franchise activities, third party contract manufacturing, e-commerce, and corporate partnerships. The company is headquartered in Pittsburgh, Pennsylvania.