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Why These Stocks Will Suffer From SAC Capital's Legal Woes

By  +Follow August 21, 2013 9:15AM
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The long rise and snowballing decline of SAC Capital Advisors LP has been one of the bigger stories of this year.

The legendary investment fund began 2013 with $15 billion in assets, with $6 billion of that belonging to outside investors. By the beginning of June, however, investors had requested that nearly all of that be returned, as the company was confronted with civil and then criminal charges from the SEC. One of the more high-profile examples of this occurred when the well-known Blackstone Group yanked the entirety of its more than $500 million in investments from the firm.

As of June 30, SAC had closed down its Parameter Capital trading unit, reducing its positions by $2 billion in anticipation of repaying investor withdrawals for the remainder of the year. The future of the fund is uncertain, especially after US attorney Preety Bharara upped the ante with the introduction of criminal charges on July 25. Prior to embittering of relations between Cohen and SAC on the one hand, and Federal regulators on the other, there was a great deal of speculation that SAC would simply contract into a fund whose sole responsibility would be the management of the Cohen family fortune.

That possibility now seems more remote, however. Early this week, Bloomberg reported that the 21-year old SAC was refusing requests to return cash early, with rumors of coming layoffs swirling about, though the firm has been doing its best to behave as though everything will continue on its normal course once recent problems have been resolved.

With all of the drama and uncertainty surrounding the matter, the fund does indeed appear to be operating as best it can. As of July 30, SAC had a total of 1,917 positions worth $16.9 billion. 426 of those positions were new, while overall 984 positions had been increased, and 931 had been reduced. The fund had sold off 369 of its holdings.

Of the holdings SAC had exited completely by the July 30 13-F filing deadline, the biggest included:

-Panera Bread Co. (PNRA) , down 7 percent over the last month to $173.72.
-Cliffs Natural Resources Inc. (CLF) , up 20 percent over the last month to $21.68
-The Dow Chemical Company (DOW) , up nearly 7 percent over the last month to $36.95.
-Smithfield Foods Inc. (SFD) , up half of a percent over the past month to $33.43.

The holdings that SAC had reduced the most by July 30 include:

-Repros Therapeutics Inc. (RPRX) , down nearly 6 percent over the last month to $19.80.
-Praxair Inc. (PX) , up 0.4 percent over the last month to $117.47.
-Endo Pharmaceuticals Holdings Inc. (ENDP) , up 0.05 percent over the past month to $38.50.
-Intuitive Surgical Inc. (ISRG) , down 2.65 percent over the past month to $385.45.

The fund had increased its holdings the most in the following stocks:

-Market Vectors Gold Miners ETF ($GDX), up 10.5 percent over the past month to $30.33.
-Select Comfort Corporation (SCSS) , down 8.25 percent over the past month to $21.95.
-CNH Global NV (CNH) , up 4.9 percent over the past month to $46.95.
-HCA Holdings Inc. (HCA) , down 1.6 percent over the past month to $38.58.

The fund started the largest new positions in the following companies:

-U.S. Silica Holdings Inc. (SLCA) , down 3.73 percent over the past month to $22.47.
-EXCO Resources Inc. (XCO) , down 13.8 percent over the past month to $7.43.
-Intelsat S.A. (I) , up 5.8 percent over the past month to $22.38.
-Pinnacle Foods Inc. (PF) , up 3.5 percent over the past month to $26.76.

For the full list of SAC Capital’s holdings and activity as of July 30 of this year, the NASDAQ website has all of the information.

[Image: A Panera Bread location in Chicago, Illinois. Courtesy of Wikimedia Commons]

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for PNRA
Companies in News
2 Sep 14 19:41:36
$PNRA: DEVELOPING ON 6: Car Crashes Into Panera Bread In Augusta http://t.co/2X4yef6Lcq http://t.co/kwKUobjKJq
Stock Market Monitor
2 Sep 14 18:41:39
$PNRA: Analysts Recommendations: Panera Bread Co (NASDAQ:PNRA), RetailMeNot ... http://t.co/VHVaK8e26K http://t.co/eKtWhtJMvi
Green to Gold Group
2 Sep 14 18:13:15
ALERT Bullish Bias Coffee $DNKN @DunkinDonuts vs $SBUX #Starbucks http://t.co/aXOtQdeUCP $PNRA
Stock Rocket
2 Sep 14 12:42:39
$DGLY is up 940.2% in 3 weeks! Our new penny stock alerts are coming soon: http://t.co/G4xan5kQD5 $PNRA $BXS $CFR
Lucretia
2 Sep 14 11:30:26
$PNRA DEVELOPING ON 6: Car Crashes Into Panera Bread In Augusta http://t.co/XkdOdq9hDv
Brt Stlnd
2 Sep 14 10:12:45
@IvanTheK @DavidSchawel So, more value created in $AAPL today than mkt cap of $PNRA
Market Int Center
2 Sep 14 07:55:04
Panera Bread $PNRA Showing Neutral Technicals With Support At $147.98 ( http://t.co/ueBMpDPCdI )
Market Updater
2 Sep 14 01:41:16
$PNRA: Barclays Sees Multiple Expansion On Panera Turnaround http://t.co/aTwraukTeJ http://t.co/4Rk8SFFx75
Evener Investment
2 Sep 14 00:32:51
RT @SeekingAlpha: Why Average Guest Check For Panera Bread Is In A Slump But Investors Shouldn't Be Concerned http://t.co/nIhU0va4Ok $PNRA
Nickson Papytso
2 Sep 14 00:29:20
RT @SeekingAlpha: Why Average Guest Check For Panera Bread Is In A Slump But Investors Shouldn't Be Concerned http://t.co/nIhU0va4Ok $PNRA
Seeking Alpha
2 Sep 14 00:27:59
Why Average Guest Check For Panera Bread Is In A Slump But Investors Shouldn't Be Concerned http://t.co/nIhU0va4Ok $PNRA
Biz Headlines
1 Sep 14 20:41:17
$PNRA: Panera Bread SVP Sells $30252 in Stock (PNRA) http://t.co/OjJ4xbgHdG http://t.co/NOAqF30b7o
Stockaholics
1 Sep 14 20:10:58
$IWEB closed up 100% today, on more than 290 MILLION shares traded! Huge News: http://t.co/ucQcnpafDY $PNRA $BXS $CFR
Stockaholics
1 Sep 14 15:45:35
$IWEB closed up 100% today, on more than 290 MILLION shares traded! Huge News: http://t.co/ucQcnpafDY $PNRA $BXS $CFR
Peter Bardens
1 Sep 14 14:01:30
$PNRA Panera Bread's CEO Attempts to Innovate The Way We Order Sandwiches http://t.co/wldr4qSZA4
James P Worthy
1 Sep 14 14:01:29
$PNRA Panera Bread CFO resigns http://t.co/kFlwKRVebf
Alpha Maven Alerts
30 Aug 14 21:11:38
$PNRA, Negative, Yesterday, SD -2.59, #NASDAQ #ConsumerServices
Financial Headlines
30 Aug 14 09:41:22
$PNRA: Chipotle Succeeds By Flouting Conventional Wisdom http://t.co/9MCqa8QIJL http://t.co/I9QfhF5Xuz
Jason A. Moser
30 Aug 14 09:36:16
Mosh pit risk. It's a thing. RT @TMFChrisHill: Cosi is so mind-blowingly inefficient it makes Panera Bread look like Chipotle. $PNRA $CMG
Chris Hill
30 Aug 14 09:27:04
Cosi is so mind-blowingly inefficient it makes Panera Bread look like Chipotle. $PNRA $CMG
BeerByThePool
30 Aug 14 06:29:26
@jimcramer My local STL $PNRA now has card swipe on customer side. Should move line faster.
Anacott Steel
29 Aug 14 18:58:11
RT @HuffPostBiz: #Chipotle CEO makes a bold prediction http://t.co/TevV53W10u | $CMG $MCD $YUM $PNRA #goodfoodquickly
Stockaholics
29 Aug 14 12:04:16
RSII shot up over 100% today! Major Update: http://t.co/GMnQioznZp $PNRA $BXS $CFR
Market News
29 Aug 14 11:41:24
$PNRA: PANERA BREAD CO Files SEC form 8-K, Change in Directors or Principal Officers http://t.co/Iz01vbbJ7J http://t.co/zy2zRk3rFg
Micah
29 Aug 14 11:27:00
One more reason to respect Panera CEO Shaich: he used the term "mosh pit" to describe ordering:pickup system & is trying to fix it $PNRA
Sleek Money
29 Aug 14 11:07:49
Panera Bread SVP Unloads $30,252 in Stock $PNRA http://t.co/aXerXfL5b0
Dan Bucholtz
29 Aug 14 09:45:58
Threw some play money at $GPRO on @PeterGhostine's tip. Let's hope it works as well a $PNRA and $TWTR did!
Market Int Center
29 Aug 14 09:10:23
Panera Bread $PNRA Showing Resistance Near $150.94 ( http://t.co/i34YfYlB37 )
Sup Kid
29 Aug 14 06:10:29
$PNRA peanut gallery discussing the finer points of motor-boating this morning. #StayClassy
TV_Trading Ideas
29 Aug 14 05:18:34
I think the movement will continue within current trends. $PNRA http://t.co/ZcwyU6cfDc
Market News
29 Aug 14 04:41:28
$PNRA: [video] Fast casual sales grow 11%: Technomic http://t.co/qWGTWB8bla http://t.co/1GsMBjPvIV
Market Headlines
29 Aug 14 03:41:20
$PNRA: Panera Bread's CEO Attempts to Innovate The Way We Order Sandwiches http://t.co/o0s8Z61UYe http://t.co/zdkwzqQidd
Thomas Lav
29 Aug 14 03:09:44
One more reason to respect Panera CEO Shaich: he used the term "mosh pit" to describe ordering:pickup system & is trying to fix it $PNRA
shortbus yardrep
29 Aug 14 01:45:04
RT @redhed67: McDonald's Real Trouble: It's Losing Millennials http://t.co/UaqB5Vs8DL via @daily_finance $MCD $BKW $PNRA
Gina
29 Aug 14 01:44:14
McDonald's Real Trouble: It's Losing Millennials http://t.co/UaqB5Vs8DL via @daily_finance $MCD $BKW $PNRA
Innovate Iowa
28 Aug 14 18:52:39
One more reason to respect Panera CEO Shaich: he used the term "mosh pit" to describe ordering:pickup system & is trying to fix it $PNRA
Stockaholics
28 Aug 14 16:21:28
$VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/EdxLh9u5Nx $PNRA $BXS $CFR
Brian Bolan
28 Aug 14 14:03:22
$ZOES updated value per store for QSR's $PNRA, $NDLS, $PBPB, $BLMN $CHUY $TXRH http://t.co/kY9UBQJDQr
Financial News
28 Aug 14 13:41:30
$PNRA: [video] 'Restaurant Startup' sizzles http://t.co/FfrMVghuS0 http://t.co/geHICVRcpQ
Stockaholics
28 Aug 14 12:57:23
$VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/86hsEuqG18 $PNRA $BXS $CFR
Business News Watch
28 Aug 14 12:41:35
$PNRA: Analyst Downgrades: Buffalo Wild Wings, Panera Bread Co, and United Parcel ... http://t.co/zCoQFPUx8B http://t.co/GbhLevq6Ch
Stockaholics
28 Aug 14 12:40:14
VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/86hsEuqG18 $PNRA $BXS $CFR
Market Int Center
28 Aug 14 12:22:03
Panera Bread $PNRA Trading Near $147.81 Support Level ( http://t.co/IBwmabAjGX )
David Wixom
28 Aug 14 10:31:59
One more reason to respect Panera CEO Shaich: he used the term "mosh pit" to describe ordering:pickup system & is trying to fix it $PNRA
Roben Farzad
28 Aug 14 10:06:12
Hey @BrianSozzi -- we just had an awful time ordering @PaneraBread online. $PNRA
Genius Company
28 Aug 14 09:12:27
RT @NicoleLapin: Sorry, $MCD: looks like #millenials are #JustNotThatIntoYou... company losing ground w/20-30 somethings that like $CMG and…
TraderMinute
28 Aug 14 07:35:40
Bottoming action in $PNRA, may be a good place to pick up for a run to $157
Anthony
28 Aug 14 05:43:46
RT @NicoleLapin: Sorry, $MCD: looks like #millenials are #JustNotThatIntoYou... company losing ground w/20-30 somethings that like $CMG and…
Stock News Updates
27 Aug 14 20:41:28
$PNRA: Bear of the Day: Panera (PNRA) http://t.co/QOjFj3i3hz http://t.co/BUp8uEK0yw
Bobby Thym
27 Aug 14 20:37:28
RT @NicoleLapin: Sorry, $MCD: looks like #millenials are #JustNotThatIntoYou... company losing ground w/20-30 somethings that like $CMG and…
				
				
By  +Follow August 21, 2013 9:15AM
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