Here is the roundup of the most significant moves in hedge fund short positions in U.K., France, Germany and Netherlands.
Cupid PLC (LON:CUP), a small cap dating service, has no love coming its way, at least not from hedge funds. U.K.-based funds, Tremblant Capital and Ennisomore Fund Management juiced profits from their short bets in the company. Tremblant Capital covered its 3.6 percent short in Cupid PLC (LON:CUP), Ennismore also exited the short while another fund dialed it back to less than 0.5 percent.
Was Ben Graham's big purchase of GEICO shares actually a value investment? Perhaps it was contrary to what many believe. "In 1948, we made our GEICO investment and from then on, we seemed to be very brilliant people." -- Benjamin Graham, 1976 Both Benjamin Graham and Warren Buffett can attribute a large part of their Read More
Cupid traded at as low as 44 pence on March 22, the day when these hedge funds covered their short positions. The stock has declined as much as 63 percent during the period of short holding.
The UK. companies that are experiencing new short interest activity are Carillion plc (LON:CLLN), Nanoco Group PLC (LON:NANO) and Kazakhmys plc (LON:KAZ) (HKG:0847).
You can also access the full list of hedge fund short positions in Europe.
In France, Lansdowne Partners is convinced of the impending decline of Air Liquide (EPA:AI); the fund increased its short position slightly yesterday. We have completed a detail analysis looking at different aspects of the company that could be pressured. Air Liquide (PINK:AIQUY) (EPA:AI) has traded flat during Lansdowne’s period of holding, March 7 to date.
D.E Shaw covered its entire short in Carrefour SA (EPA:CA), the retail chain stores. The 0.6 percent short in the Carrefour SA (EPA:CA) amounted to $114 million which was covered within days of its disclosure. AKO Capital currently holds a 0.7 percent short bet in the company.
Cheyne Capital covered its 2.5 percent short in PagesJaunes Groupe SA or Solocal Group SA (EPA:PAJ) PagesJaunes Groupe SA has dropped even lowerin trading in the last couple of days, Paul Singer’s Elliott Management increased short bet in the company so the fund must be netting profits here. Solocal Group/PacgesJaunes makes online and printed directories and also does web hosting.
In Germany, Maverick Capital finally reduced its 7.8 percent short bet in AIXTRON SE (NASDAQ:AIXG) (ETR:AIXA)(FRA:AIXA), the German semiconductor company. The short position was down to 6.5 percent of the outstanding shares on March 22. Maverick Capital disclosed the short in November, the stock is up 14 percent since then. Six other asset managers and hedge funds have existing short bets in AIXTRON SE (NASDAQ:AIXG) (ETR:AIXA)(FRA:AIXA), the total disclosed short interest is now upto 14 percent of the company’s shares.
In Netherlands, Steve Cohen’s S.A.C Capital disclosed a short bet in CSM NV (AMS:CSM), a company involved in confectionery and preservatives supply and manufacture. The 0.5 percent position disclosed on March 21 was covered to 0.36 percent yesterday. The short was covered as a private equity firm agreed to buy CSM NV (AMS:CSM)’s bakery business in a $1.36 billion deal.
Stay tuned for more updates on short disclosures.