Market Overview

Soros Raises Penn Virginia Stake, Wants Management To Consider Options

Related PVA
Penn Virginia Price Target Slashed To $3.00 At Imperial Capital: Here's Why
Penn Virginia Corporation Announces the Sale of East Texas Assets for $75M
Penn Virginia beats by $0.09, misses on revenue (Seeking Alpha)

Shares of Penn Virginia (NYSE: PVA) are up a massive 15.4 percent to $15.71 on Tuesday after Soros Fund Management filed a 13D that showed a raised stake of Penn Virginia from 8.92 percent to 9.18 percent as of December 31, 2013.

In the filing, Soros Fund Management said financial incentives for Penn Virginia's management team should be enhanced, but management should explore strategic alternatives as a means to enhance or maximize shareholder value.

Posted-In: George SorosNews


Related Articles (PVA)

Get Benzinga's Newsletters