Elliott Management has ended his Juniper activist campaign. The fund took its active stake from 6.4% to below 5%. Now owning 4.5%.
Eliott noted that the company has made marked progress in turning around its business and managed to boost its stock price nicely thanks to buybacks.
The writing was on the wall that Elliott was moving on, from the new Citrix position to the February standstill agreement with Juniper. Elliott has two Juniper board seats. However, it didn’t make any “big money” in the name, having bought shares between $19 and $23. But that’s the modus operandi of Elliott’s recent campaigns.
Tiger Legatus Master Fund was up 0.1% net for the second quarter, compared to the MSCI World Index's 7.9% return and the S&P 500's 8.5% gain. For the first half of the year, Tiger Legatus is up 9%, while the MSCI World Index has gained 13.3%, and the S&P has returned 15.3%. Q2 2021 hedge Read More