Tiger cubs have been increasing their bets against the digital security solutions provider, Gemalto NV (EPA:GTO). There was remarkable coordination in the way in which Steve Mandel’s Lone Pine Capital, John Griffin’s Blue Ridge Capital and Lee Ainslie’s Maverick Capital added to their short positions in Gemalto NV (EPA:GTO) in first couple of weeks in May.
The largest short in the smart card maker is Maverick Capital’s 1.94 percent position. Steadfast Capital, another member of the Tiger cubs also has a 0.5 percent short in the company. Jim Chanos’ Kynikos Associates has held a 0.6 percent short in Gemalto since November of last year.
Take a look at all hedge fund short positions in Europe.
Despite of the enthusiasm for shorts, one of the leaders in secure identification solutions has received good news lately. The company has opened providing new technologies in Russia and Bangladesh. Gemalto NV (EPA:GTO) was also mentioned positively in Research and Markets’ latest report on the smart card industry future in China.
In French disclosures from Tiger Cubs, Lone Pine Capital increased its short in Ingenico SA (EPA:ING), a smart payment solutions provider. Ingenico is popular short bet in France, with 8.57 percent of outstanding shares held in short positions. Ingenico SA (EPA:ING) fell 3.4 percent today in response to weak Chinese PMI data and contracting US manufacturing data.
Tiger Cubs Split on Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V)
Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) , down 9 percent YTD, is the other mutual shorting favorite of Tiger cubs. The activity remains mixed here, Viking Global and Discovery Capital decreased the Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) short slightly whereas Lone Pine Capital increased it to 1.3 percent on May 21. Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) was up 1.2 percent in today’s trading session.
Tiger Cub Blue Ridge Capital has a 1.38 percent short in Metso Oyj (OTCMKTS:MXCYY) (HEL:MEO1V) which has declined 10 percent YTD is a solutions provider in paper, metals and mining industry.
Finland’s Metals & Mining Sector: Bearish Bets Of Hedge Fund
Like the rest of the world, Finnish metals related companies are facing underperformance as demand contracts in China. Outokumpu Oyj (HEL:OUT1V), a player in Finland’s stainless steel industry, has made big profits for bearish bets of hedge funds, the stock is down 33 percent YTD. The few lucky ones who bet against the company at the right time were Luxor Capital, Pennant Capital and Axial Capital, all three are large hedge funds. Luxor Capital’s short is the largest, amounting to 2.62 percent of the company.
Saemor Capital disclosed a short in Rautaruukki Oyj (HEL:RTRKS), a metal based component manufacturer. The company is surrounded by headwinds from the steel industry which has driven down the share price almost 20 percent YTD. Rautaruukki Oyj (HEL:RTRKS), remains one of the few Finnish companies which is an individual unique short bet, otherwise most other shorts are concentrated by many players at once.