In a recent filing with the SEC, Hertz Global Holdings, Inc. (NYSE:HTZ) announced that the company has identified errors while filling its 10-Q report for the first quarter of the year. The errors are referring to the allowances for doubtful accounts in Brazil, uncollectible amounts with respect to renter obligations for damaged vehicles and restoration obligations at the end of facility leases. In this way, the Audit Committee of the Board of Directors has stated that the financial statements for 2011 should be restated and the statements for the following two years also have to be corrected for errors. ” However,…
Author: Alex Oleinic
After yesterday Samsung Fine Chemicals Co., Ltd. reported a new stake in the recently public company Sunedison Semiconductor Ltd (NASDAQ:SEMI), Samsung Electronics Co., Ltd. also disclosed a new position in the company. According to the filing with the SEC, Samsung Electronics owns around 2.43 million shares, the passive stake amassing close to 6% of Sunedison Semiconductor Ltd (NASDAQ:SEMI)’s common stock. Sunedison Semiconductor Ltd (NASDAQ:SEMI) went public a couple of days ago, its market cap amounting to around $625 million. The company is involved in the production and sale of silicon wafers designed for the semiconductors industry. Disclosure: none Suggested Reading: The10 Most Expensive Countries to…
Tesoro Corporation (NYSE:TSO)’s holding in the equity portfolio of Robert Pitts’ Steadfast Capital Management has been increased considerably, a new filing shows. The shareholder has upped its stake to more than 6.69 million shares, after revealing ownership of some 2.83 million shares in its latest 13F. The passive stake amasses over 5% of Tesoro Corporation (NYSE:TSO)’s common stock, following the increase. Aside from Steadfast, David E. Shaw’s D E Shaw is also a shareholder of Tesoro Corporation (NYSE:TSO), owning 7.70 million shares of the company as of the end of March. Another investor in the $7.4 billion market cap petroleum refiner is Jonathan…
After initiating a stake in RCS Capital Corp (NYSE:RCAP) over a month ago, Christian Leone’s Luxor Capital Group has reported further raising its exposure to the small cap financial company. A new filing with the Securities and Exchange Commission showed that Luxor currently owns 21.04 million shares of RCS Capital Corp (NYSE:RCAP), versus 20.66 million held earlier. The new stake amasses almost 10% of RCS Capital’s common stock and is activist by nature. The stock of RCS Capital Corp (NYSE:RCAP) has gained over 31% since the beginning of the year, trailing a Price/Earnings Ratio of around 24.00, slightly above the industry average of…
As a new filing with the SEC showed, Merion Investment Management LP has initiated a 9.0% passive stake in Zale Corporation (NYSE:ZLC). The fund reported ownership of over 3.90 million shares of the company, with an aggregate value of $82.07 million, at the current price of the stock. The stock price of Zale Corporation (NYSE:ZLC) has surged by over 30% since the beginning of the year. Among other shareholders of the $906 million market cap company is TIG Advisors, managed by Carl Tiedemann and Michael Tiedemann, which initiated a stake during the first quarter and reported ownership of 3.12 million shares of Zale Corporation (NYSE:ZLC) in…
Ken Griffin’s Citadel Investment Group is bullish on XPO Logistics Inc (NYSE:XPO). The fund has revealed in a new filing with the Securities and Exchange Commission upping its stake in the company to 2.63 million shares, from some 1.21 million held previously. Following the increase, Citadel’s passive stake amasses around 5.0% of XPO Logistics Inc (NYSE:XPO)’s outstanding stock. XPO Logistics Inc (NYSE:XPO) is a $1.30 billion market cap company engaged in freight transportation services. During the first quarter of 2014, Orbis Investment Management, led by William B. Gray, upped its stake in XPO Logistics Inc (NYSE:XPO) by 70% to 3.56 million shares. Brian Bares’ Bares Capital Management is…
Nova Measuring Instruments Ltd. (NASDAQ:NVMI) has been added to Yelin Lapidot Holdings Management Ltd.’s equity portfolio a new filing with the SEC showed. The investor has purchased around 1.41 million shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI), equal to 5.13% of the outstanding stock. Nova Measuring Instruments Ltd. (NASDAQ:NVMI) is a small cap, Israel-based company engaged in the design, development and production of integrated process control methodology systems used in the manufacturing of semiconductors. The stock of the company has gained around 10% since the beginning of the year. Jim Simons’ Renaissance Technologies is another shareholder of the company, owning around 1.47 million shares as of…
Samsung Fine Chemicals Co., Ltd. has reported a new stake in the recently public company Sunedison Semiconductor Ltd (NASDAQ:SEMI). The new shareholder owns around 7.2 million shares of the company, the passive stake amassing over 17% of the company’s outstanding stock. At the current share price of Sunedison Semiconductor Ltd (NASDAQ:SEMI), the value of Samsung Fine Chemicals’ position amounts to $111.24 million. Sunedison Semiconductor Ltd (NASDAQ:SEMI) is a $624.60 million market cap company that is involved in development, production and sale of silicon wafers to the semiconductors industry. The company went public at the end of May, and since then, its stock edged down…
Dmitry Balyasny’s fund Balyasny Asset Management has reported ownership of 2.26 million shares of CHC Group Ltd (NYSE:HELI). This stake represents 2.92% of the company’s outstanding common stock. In its latest 13F, Balyasny’s holding in CHC Group Ltd (NYSE:HELI) contained around 3.15 million shares, therefore the fund has reduced its stake in the company. The stock price of the small cap helicopter operator has dropped by almost 28% since the end of January when CHC Group went public. Another shareholder of CHC Group Ltd (NYSE:HELI) is Ken Griffin’s Citadel Advisors, which holds 2.32 million shares, worth $17.13 million, according to its latest 13F filing. Thomas…
Mitel Networks Corporation (NASDAQ:MITL), a $1.1 billion company engaged in business communication, has been added to the equity portfolio of Fiera Capital Corporation. The investor reported ownership of 5.41 million shares of the company, equal to 5.5% of the outstanding stock. The holding is passive by nature. Mitel Networks Corporation (NASDAQ:MITL)’s stock has gained around 8.4% since the beginning of the year. Renaissance Technologies, led by Jim Simons, is another shareholder of Mitel Networks Corporation (NASDAQ:MITL), declining its stake by 23% during the first quarter to 1.19 million shares, worth $12.65 million. Ira Unschuld’s Brant Point Investment Management has initiated a stake in the company during…
In a new filing, MSDC Management, L.P. revealed adding Liquid Holdings Group Inc (NASDAQ:LIQD) to its equity portfolio. The investor reported ownership of a total of 6.0 million shares of the software company. The passive stake is equal to 10.6% of Liquid Holdings Group Inc (NASDAQ:LIQD)’s outstanding common stock. MSDC Management has a diversified equity portfolio, of which only around 7% is invested in tech stocks. However, one of the largest holdings in terms of value is SS and C Technologies Holdings Inc (NASDAQ:SSNC), another software company that similar to Liquid Holdings Group Inc (NASDAQ:LIQD) is engaged in the financial services sector. MSDC owns 4.43…
Activision Blizzard, Inc. (NASDAQ:ATVI)’s shareholder, a French multinational mass media company, Vivendi S.A., has reported halving its exposure to the company. According to filings with the U.S. Securities and Exchange Commission, Vivendi has sold around 41.50 million shares of Activision Blizzard, remaining with the same amount. The securities have been dumped in one transaction, at a price of $20.54 per share. The activist stake held by Vivendi currently amasses 5.8% of Activision Blizzard, Inc. (NASDAQ:ATVI)’s common stock. According to a filing, Vivendi has entered into an Underwriting Agreement with Activision Blizzard, Inc. (NASDAQ:ATVI), Barclays Capital Inc. and Credit Suisse Securities (USA) LLC, regarding…