London-based hedge fund Ennismore Fund Management, seems to think that Cupid PLC (LON:CUP)’s downward journey is not ending anytime soon.
The fund reopened its short bet on April 3 after covering it entirely, and the negative position is now 2.22 percent of the online dating company.
Cupid PLC (LON:CUP) has been surrounded by allegations of fake profiles which the company has denied vehemently but it seems as if Ennismore is not buying it. The company is a favorite short among hedge funds.
You can also access the full list of hedge fund short positions in Europe.
Despite the stock’s rising performance and reaffirmation of stock ratings, Odey Asset Management seems undeterred in its short bet in Apr Energy PLC (LON:APR), which was increased yesterday from 1.39 percent to 1.85 percent outstanding shares.
Apr Energy PLC (LON:APR) provides alternative power solutions to industrial setups and is the largest provider of fast-track power.
JPMorgan Chase & Co. (NYSE:JPM) reaffirmed their “overweight” rating in a research report released on Friday, whereas Credit Suisse Group AG (NYSE:CS) repeated their “outperform” rating around the same time. The stock has gained more than 13 percent since the beginning of March and is up 2 percent for the year so far. The company’s CFO has forecast a slow Q1 compared to the year ago period, saying that delays in new contracts and operations have limited the company’s profits in the last quarter.
APR also announced that its has won contracts in Libya and Uruguay totaling projects of 300MW. It seems Odey is banking on a slump in shares after APR releases its official Q1 earnings. Lansdowne Partners also has a 3 percent short in the APR.
Kynikos Associates has been reducing its short bet in ASOS Plc (PINK:ASOMY) (LON:ASC) profitably. Morgan Stanley (NYSE:MS) recently downgraded ASOS Plc (PINK:ASOMY) (LON:ASC) to “equal weight” and stock price has fallen more than 6 percent in April alone. Note that ASOS plc (LON:ASC)’s stock has consistently risen in the year excluding the first week of April and is still up 17 percent YTD.
In other short disclosures, Blue Ridge Capital continues to cover short in The Weir Group PLC (LON:WEIR), Henderson Alternative covered short in McBride plc (LON:MCB) whereas BlackRock Inc. (NYSE:BLK) initiated a new short in London Mining Plc (LON:LOND).