Top Interesting Hedge Fund Moves over The Past Weeks
The article below is an overview on the most interesting hedge fund moves over the past couple of weeks.
Last
Thursday, Richard McGuire 's Marcato Capital Management revealed that
it had increased its exposure – by 185%-to Lear Corporation, a $7.2
billion market cap company engaged in the business of supplying seating
and electrical distribution systems and other related components to
virtually every major automotive manufacturer in the world. The fund had
decreased its holdings at the company by 75% over Q1, to 1.4 million
shares. However, McGuire seems, once again, bullish about Lear
Corporation, holding 4.01 million shares. This position, worth about
$355 million, represent 4.9% of the company's stock.
Marcato
Capital also boosted its stake in another company last week. The fund
disclosed a 6.4% increase in its position at Life Time Fitness, Inc.
LTM, a company engaged in designing, building and operating distinctive
and large, multi-use sports and athletic, professional fitness, family
recreation and spa centers, with a market cap barely shy of $2 billion.
McGuire's fund acknowledged ownership of 3.115 million shares, which
account for 7.6% of this company's outstanding stock.
Source: MarketWatch
