This $800 Million Hedge Fund Will Sell 100% Of These Positions

There were over 2.01 million shares of Constellium NV (NYSE:CSTM) worth $14.51 million in Wingspan Investment Management’s equity portfolio at the end of September, as the fund upped its stake in the company by 34% in the period. The Netherlands-based aluminum products company recently has announced its third-quarter results EUR0.14 ($0.15) per share in the period, in-line with the analyst estimates, while revenue in the quarter was EUR1.2 billion, versus the consensus estimate of EUR1.37 billion. Last month, Seaport Global Securities upgraded Constellium (NYSE: CSTM) to ‘Buy’ from ‘Neutral’ and reaffirmed its price target of $8 per share. The stock is down by over 18% year-to-date. At the end of September, 32 funds tracked by us held shares of Constellium NV (NYSE:CSTM) worth $283.82 million in aggregate, which represented around 36.20% of the outstanding stock.

Wingspan Investment Management upped its stake in TerraForm Power Inc (NASDAQ:TERP) by a whopping 1.82 million shares during the third quarter. At the end of September, the fund held 2.068 million shares valued at $28.78 million. The yieldco which was spun-off from the now-bankrupt Sunedison has been recently offered $13 per share, or $1.8-billion, buyout deal by Brookfield Asset Management. However, recently SparkSpread reported citing an industry source that AES Corp (NYSE:AES) might also be interested in acquiring TerraForm Power. Between July and September, the number of investors from the Insider Monkey database holding shares of TerraForm Power Inc (NASDAQ:TERP) plunged by six to 20.

Wingspan Investment Management reported a $28.96 million position in Yahoo! Inc. (NASDAQ:YHOO), which contained 672,050 shares, down by 65% over the quarter. Bloomberg reported on Thursday that Verizon Communications Inc. (NYSE:VZ) is now considering a price cut and even suspension of its $4.83 billion deal with Yahoo after Yahoo shocked the world on Wednesday confirming a second major email hack which affected over 1 billion users. The source said that a legal team of Verizon is gauging the intensity and gravity of the reported email hack to explore the possible options. A total of 90 funds followed by us held long positions in Yahoo! Inc. (NASDAQ:YHOO) with a total of value of $8.27 billion at the end of September, versus 81 funds and $6.77 billion, respectively, a quarter earlier.

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