Hedge Funds Short Neopost, First Eagle Takes 10% Long Stake

Other than the frequently shorted French equities, a number of new companies became part of hedge funds’ short bets in France last week, so it is time for updates on shorts in French equities. For more details about positions and historical data, visit our database of European Stock Short Positions, which enlists short bets from a number of famous hedge funds.

Maverick Capital disclosed a 0.5 percent short bet in Thales SA (EPA:HO) on Feb 14. AKO Capital has held a short position of 0.97 percent in the same stock. B and G Master Fund disclosed a unique bet of 0.52 percent in Faurecia SA (EPA:EO) in the previous week. FIL Investment Management initiated a short position in JCDecaux SA (EPA:DEC) of 0.58 percent of its outstanding shares.

Meanwhile according to French regulatory authority AMF, Jean-Marie Eveillard’s First Eagle Investment Management’s holding in Neopost SA (EPA:NEO) has exceeded the 10 percent threshold and the firm now holds 3.4 million shares of the capital.

As First Eagle increases its long holding in Neopost SA (EPA:NEO)t, several funds have crowded in to short Neopost. Pennant Capital increased its short position to 1.4 percent of the company’s shares on Feb 14. A total of ten firms are now shorting the company whose main business is in selling mailroom equipment. The aggregate bet of the 10 firms, mostly hedge funds is now 10.7 percent of Neopost’s shares outstanding. Lone Pine Capital, Luxor Capital and Axial Capital have a short position in the company. The largest single bet is AKO Capital’s 3.3 percent short position.

In more disclosures from France, Highbridge Capital opened a short position of 0.5 percent in Maurel & Prom (EPA:MAU) which reached 0.66 percent this week. At the sane time BNP Paribas reduced its short position to below 0.5 percent in Maurel & Prom. Meditor Capital covered it short position in Rexel SA (EPA:RXL) to 0.16 percent from 0.6 percent. FIL Investment Management initiated a short position in JCDecaux SA (EPA:DEC) of 0.58 percent of outstanding shares.

Highbridge Capital increased its short position in Nexans SA (EPA:NEX) which now amounts to 1.6 percent of the company’s outstanding shares while Marshall Wace and Egerton Capital increased bets in Peugeot SA (EPA:UG). Both companies are shorting favorites of hedge funds. AKO Capital’s position in Nexans is now up to 3.58 percent. There are seven hedge funds with short positions in Peugeot SA, the largest bets are from D.E Shaw and Odey Asset Management.