It has been another active week for European hedge funds as they moved across their short positions across Europe. See full list of Hedge fund Short Positions In Europe.
Odey Asset Management declared a new short position in JCDecaux SA (EPA:DEC), a French advertising company. Odey has had a good start on this short already, JCDecaux SA (EPA:DEC) shares are down 6 percent .
The $5.7 billion advertising company fell in March after cautious guidance for Q1 financial results was released by the company. JCDecaux is expected to announce the Q1 earnings around the first week of May. Previously FIL Fund Management had disclosed a short in JCDecaux.
Electron Capital Partners' flagship Electron Global Fund returned 5.1% in the first quarter of 2021, outperforming its benchmark, the MSCI World Utilities Index by 5.2%. Q1 2021 hedge fund letters, conferences and more According to a copy of the fund's first-quarter letter to investors, the average net exposure during the quarter was 43.0%. At the Read More
Ingenico SA (EPA:ING) continues to draw attention from a bunch of hedge funds that keep adding to the position. Tiger Cub, Coatue Management has been particularly active with a 1.2 percent position. Conatus Capital now has a 1 percent short while Cadian Capital has the largest short at 2.3 percent.
Ingenico SA (EPA:ING) provides digital systems for financial transactions. The company released guidance below analyst expectations so the stock is likely to fall further in the coming weeks; currently it is down 4.5 percent in the last 30 days.
In Finland, D.E .Shaw disclosed a short position in Neste Oil Corporation (HEL:NES1V), a previous short position of SAC Capital. Neste Oil Corporation (HEL:NES1V) is involved in refining of petroleum products. Lansdowne Partners covered its short in Metso Oyj (PINK:MXCYY) (HEL:MEO1V) to 0.3 percent from 1.5 percent. The stock was down almost 5 percent during the time Lansdowne has held the position.
In Sweden, Eton Park has a rare short disclosure in Alfa Laval AB (STO:ALFA), a company involved in the manufacturing of heaters, boilers and related machinery. The short is worth 1.19 percent of Alfa Laval AB (STO:ALFA) which is equivalent to $112 million. The stock’s price is up 8 percent YTD. BlackRock also has a short in the same company. Cadian Capital has been increasing its short in Axis AB (STO:AXIS) (PINK:AXSAF), which is now upto 5.2 percent of the company.
In Denmark, Maverick Capital has covered its short position in FLSmidth & Co. A/S (CPH:FLS) slightly. FLSmidth & Co. A/S (CPH:FLS) a cement and materials company, is popular with other short sellers as well like, Greenlight Capital and D.E Shaw. Blue Ridge Capital has been increasing short exposure in Pandora A/S (PINK:PNDZF) (PINK:PNDZY) and Vestas Wind Systems A/S (CPH:VWS).