Michael Barnes And Arif Inayatullah’s Tricadia Capital Management recently disclosed an increase to its position in Townsquare Media Inc (NYSE:TSQ) of 555,500 Class A Common Shares. According to the 13G Form filed with the U.S. Securities and Exchange Commission, the investment firm’s stake now amounts to 780,000 shares, representing 8.25% of the company’s outstanding stock. Another filing revealed that Alex Denner’s Sarissa Capital Management has entered a new position in Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR). The fund’s new holding consists of around 1.6 million common shares, which amounts to 5.76% of the company’s outstanding stock.
Tricadia Capital Management was founded in 2003 and is currently managed by Michael Barnes and Arif Inayatullah. The New York City-based firm focuses primarily on managing credit-oriented hedge funds and engages in alternative investments. Before founding Tricadia, Mr. Barnes was in charge of credit trading strategies at UBS, PaineWebber, and Bear Stearns. The fund’s co-founder Mr. Inayatullah, specializes in fixed income, along with equity, currency, and commodity markets. Tricadia Capital Management has a balanced and diversified equity portfolio valued at around $590 million. According to the last 13F Form filed with the SEC, Constellation Brands, Inc. (NYSE:STZ) was its largest position at the end of the third quarter, accounting for little over 10% of the firm’s total holdings.
Townsquare Media Inc (NYSE:TSQ) has been part of Tricadia Capital Management’s equity portfolio since the third quarter of 2014, when the firm disclosed an initial position of 224,400 shares. Although the 13G Form corresponding to the fund’s latest increase in its holdings was filed this week, the purchase of shares actually took place at the end of 2014. During this three-month period the stock gained 9.6%, while growing by around 24% since the company first went public at the end of July of last year. Furthermore, it comes as little surprise to see the New York City-based hedge fund increase its exposure further, as numerous institutional investors have taken a bullish stance towards Townsquare Media.
Amongst those betting big on Townsquare Media is Howard Marks’ Oaktree Capital Management, which holds a stake of 1.59 million shares and is currently the third largest financial institution backing the stock. William C. Martin’s Raging Capital Management also entered a position in the company, disclosing a holding of 589,000 shares as of the end of the third quarter and then increasing its exposure to 898,200 shares in October. Considering several other major hedge funds are invested in Townsquare Media, it seems like a good bet going forward.
Sarissa Capital Management is a Greenwich, Connecticut-based hedge fund that invests primarily in securities belonging to the health care industry. The firm was founded in 2012 and is currently managed by Alexander J. Denner. Before launching Sarissa Capital, Mr. Denner gained experience as portfolio manager at Andreas Halvorsen’s Viking Global, where he was employed until 2006. The manager then went on to serve as Senior Managing Director at Carl Icahn’s Icahn Capital LP, until he decided to found his own fund.
Sarissa Capital has an equity portfolio valued at around $258 million, with its stake in Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) accounting for around 26% of its total holdings. The fund has been increasing its exposure to the company for some time now and currently holds 6.87% of Ariad Pharmaceuticals’ outstanding stock. In addition to this stock, the fund’s other top picks as of its latest 13F filing were Quest Diagnostics Inc (NYSE:DGX) and Bio-Reference Laboratories Inc (NASDAQ:BRLI).
Mr. Denner’s firm recently entered a new position in Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR), a stock that has lost around 56% of its value over the past year. Despite its poor performance during this time, numerous institutional investors have been buying up shares as of late. It seems the firm is currently undervalued and trading at a discount, while it continues to hold intrinsic value. Steven Cohen’s Point72 Asset Management for example disclosed an increase of 792,200 to its position in the company in a 13G Form filed after the third quarter, which now amounts to 1.54 million shares. Matt Sirovich and Jeremy Mindich’s Scopia Capital also continues to bet big on the stock. The firm is the largest institutional investor in Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) amongst the hedge funds we track, with a position of 5.1 million shares.
Disclosure: none.
