Top Hedge Fund Moves For The Start Of The Week: SemGroup, Internap, Green Plains Partners

July 8, 2015 3:44 pm
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Tracking hedge fund activity is crucial to many investment strategies. This article will take a look at some of the most relevant moves from Monday and Tuesday.

On Monday, David Cohen and Harold Levy’s Iridian Asset Management, a hedge fund with an equity portfolio worth more than $11.8 billion, filed a Schedule 13G with the SEC disclosing a 7.2 percent increase in its exposure to SemGroup Corp (NYSE: SEMG), a mid-cap energy company. After adding 297,625 shares of Class A Common Stock to its holdings, the investment firm owns 4,397,362 shares of the company, which are worth more than $332 million at current stock prices, and account for 10 percent of the total shares outstanding.

On Tuesday, Michael Murphy’s Discovery Group boosted its stake in small-cap Internet infrastructure services provider Internap Corp (NASDAQ: INAP) by 4.39 percent. The firm had last disclosed on June 24,ownership of 2,887,610 shares Common Stock. Now, a new 13D filing states that the activist position now comprises 5.5 percent of the company’s outstanding stock, or 3,014,593 shares, worth about $28.5 million at current valuations.

Related Link: Roth: Buy Green Plains Partners, It's Worth $20/Share On Strong Cash Flows And Fee-Based Biz Model

Dmitry Balyasny’s Balyasny Asset Management (a.k.a the BAM fund) disclosed a new position it started in small-cap renewable fuels company Green Plains Partners LP (NASDAQ: GPP) a couple of weeks ago. The wage contains 1,000,014 shares of Common Stock, which represent approximately 6.29 percent of the company’s shares outstanding.

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