Top Interesting Hedge Fund Moves over The Past WeeksThe 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