Market Overview

Hedge Fund Action: Dan Loeb Likes Baxter, Gabelli Prefers Global Sources

Related BAX
Earnings Scheduled For February 1, 2017
10 Notable Stocks Trading Ex-Dividend Wednesday, November 30
Numeric Investors Llc Buys Gilead Sciences, Microsoft, Baxter International, Sells Facebook, ... (GuruFocus)
Related GSOL
Earnings Scheduled For September 15, 2016
Mid-Morning Market Update: Markets Drop; General Motors Beats Q4 Expectations

Many investors consider tracking hedge fund moves key to their strategy. So, let’s take a look at this week’s most relevant transactions involving large hedge funds.

Third Point

On Wednesday, Dan Loeb’s Third Point disclosed a new position in Baxter International Inc (NYSE: BAX), a big-cap a diversified healthcare company. The new activist stake comprises 37,925,000 shares of Common Stock, representing 7 percent of the total shares outstanding.

The wage makes of Third Point the largest institutional investor in the company, trailed by the Vanguard Group, which last disclosed holding 30,247,393 shares, and State Street Corp, with 25,401,847 shares. Among hedge funds, Richard S. Pzena’s Pzena Investment Management’s stake should be highlighted, as it comprises 5,028,418 shares of Common Stock.

Shares of Baxter International are up more than 3.5 percent on Wednesday trading.

GAMCO Investors

Mario Gabelli’s GAMCO Investors also disclosed a bullish move this week. After more than doubling its exposure to Global Sources Ltd. (Bermuda) (NASDAQ: GSOL), a micro-cap business-to-business media company, the fund holds 1,150,606 Common Shares, representing 4.88 percent of the company’s outstanding stock.

Another major hedge fund betting on Global Sources is Ric Dillon’s Diamond Hill Capital Management, which last declared holding 819,303 shares of the company, worth more than $4.8 million.

There is only one institutional investor with a larger stake than GAMCO. Stephen Nicholas Walker, Chief Executive Officer of the York Group Limited, disclosed, on June 29, ownership of 1,514,489 shares, which makes it the largest institutional shareholder of record.

Shares of Global Sources are up more than 4.6 percent on Wednesday afternoon.

Posted-In: Dan Loeb Diamond Hill Capital Management Gamco Investors Mario Gabelli Pzena Investment ManagementHedge Funds Movers General


Related Articles (GSOL + BAX)

View Comments and Join the Discussion!