San Francisco-based HMI Capital filed a 13G this morning disclosing a 6.11% position in SailPoint Technologies Holdings (SAIL). The software company was HMI's #12 holding as of the second quarter's close. But after HMI Capital increased its SailPoint stake by 162%, purchasing 3.4 million additional shares as...
Starboard Value cut its Cars.com stake aggressively after the online auto retailer's strategic search failed and the company announced disappointing Q2 results. In a 13D/A filing submitted Wednesday afternoon, the hedge fund disclosed selling 4.47 million shares of the online automobile retailer on August 5-6 at...
Question: If you’re a top hedge fund manager and the value of your highest conviction stock suddenly drops by 20%, what do you do? Answer: You buy more.
Late in 2018, investors panic-sold en masse. Indiscriminate selling. Babies thrown out with bathwater. While the public freaked-out about interest rates, trade wars and recessions, leading hedge funds added to their best ideas.
On December 27, 2018, Cannell Capital LLC — a hedge fund based in Alta, Wyoming – disclosed sending three separate letters to three company managements, notifying them of Cannell’s activist intentions. Buying the stocks targeted by Cannell on that date would have produced an average gain of 32.40% over the 25 trading days since.
Legion Partners disclosed a 5.15% stake in Landec Corp (LNDC) after market hours on Thursday. The hedge fund stated it believes LNDC's stock price "does not reflect the Issuer’s intrinsic value." Legion believes that Landec is "engaged in an odd combination of businesses that will never achieve...
Billionaire Mori Arkin filed a 13D on Aclaris Therapeutics (ACRS), a development stage microcap biotech company with a promising treatment for common warts. Arkin bought the shares through his personal partnership, "The 1999 Company." In the activist filing he disclosed the following trades:
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