logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

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

By  +Follow August 21, 2013 9:15AM
Share:
Tickers Mentioned:

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.


Signup for our daily newsletter and get our best articles emailed right to you!

Results for PNRA
PrivateCapBlogger
20 Dec 14 10:35:53
The next chapter for fast-casual restaurants $PNRA $NDLS $CMG $HABT $BWLD http://t.co/8dPoO1x81a
Stockaholics
20 Dec 14 10:02:03
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $PNRA $BXS $CFR
Quantpost Service
20 Dec 14 08:59:31
$CMG News: "The next chapter for fast-casual restaurants $PNRA $NDLS $CMG …" http://t.co/4Qu851toEP Board view: https://t.co/gx2h9h6Hh4
MarketCurrents
20 Dec 14 08:59:30
The next chapter for fast-casual restaurants http://t.co/VmEj2ZLgvC $PNRA $NDLS $CMG $HABT
Orson Manns
20 Dec 14 02:00:11
Are you thinking of Investing in $PNRA $CTAS $LH $PCLN #wallstreet http://t.co/qZ0sgPc5Kn
Kimberlee Kerns
20 Dec 14 01:21:02
Are you thinking of Investing in $WTM $JPM $PNRA $USD #investing http://t.co/0oBoIXFY7f
Stockaholics
19 Dec 14 23:55:37
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $PNRA $BXS $CFR
Adriana Love
19 Dec 14 22:57:31
Insider Trading alerts on $TIBX $PNRA $ULTA $SLW #NASDAQ http://t.co/2fbKGI2iyf
Patrick Seitz
19 Dec 14 21:38:41
Apple Pay catching on fast, poses threat to PayPal. http://t.co/n8chttqk2q $AAPL $EBAY $GOOGL $WFM $WAG $MCD $PNRA
Anne Howsham
19 Dec 14 20:18:20
Are you putting your money in $PNRA $MSG $TRW $AAPL #NASDAQ http://t.co/kbhU9vrbvU
Ali Lawrence
19 Dec 14 20:16:29
Looking for more info on $MORN $PETM $PNRA $AMZN Give it a try http://t.co/Hflbil9DtS
Arielle Messer
19 Dec 14 19:11:19
Great #Stock Newsletter you must have $AEO $NBR $PNRA $CADX #wallstreet http://t.co/8eunhWNKgJ
Oswald Newton
19 Dec 14 18:41:49
Are you Bearish on these #stocks $PRGO $AON $PNRA $ABX Must have http://t.co/Tk3fBWOD8H
Sarah O. Horne
19 Dec 14 16:28:38
RT @AndriaCheng: Panera, Chipotle both commit to sourcing meat from humanely treated animals. Could that affect factory farming? http://t.c…
Stockaholics
19 Dec 14 15:59:35
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $PNRA $BXS $CFR
Jutta Mcfall
19 Dec 14 15:34:47
Are you considering buying $MORN $CIE $PNRA $DO #singedinvestor http://t.co/Y3tnJJypn4
Ashley
19 Dec 14 14:22:15
RT @AndriaCheng: Panera, Chipotle both commit to sourcing meat from humanely treated animals. Could that affect factory farming? http://t.c…
Arielle Messer
19 Dec 14 13:55:53
Are you looking for more winners like $ATI $PNRA $BWA $ISRG Must see http://t.co/dIlRDxGrfd
Frank Tribble
19 Dec 14 12:49:03
Are you Bullish on these #stocks $RGC $MDR $PNRA $FB #NSE http://t.co/BbxO2nszig
Syble Bynum
19 Dec 14 12:46:36
Latest information on #stocks like $RGC $ILMN $PNRA $GOOG Check out http://t.co/DY0fl5X9Bb
Dale Lee
19 Dec 14 12:29:05
@iancassel When $COSI reaches the market cap of $PNRA in 10 years I'll have my first 100-bagger :)
Ravi Romo
19 Dec 14 12:23:42
Apple Pay catching on fast, poses threat to PayPal http://t.co/j69anbZlL3 #IBDBlogs $AAPL $EBAY $GOOGL $WFM $WAG $MCD $PNRA
Ravi Romo
19 Dec 14 12:23:23
Apple Pay catching on fast, poses threat to PayPal http://t.co/j69anbZlL3 #IDB $AAPL $EBAY $GOOGL $WFM $WAG $MCD $PNRA
TickerChirp
19 Dec 14 12:18:05
Prevalent in Twitter Related to $PNRA (Panera Bread Co symbol PNRA) on 12/19/2014 http://t.co/Z1srzJW24m
rez
19 Dec 14 11:53:44
RT @phone_utopia: Apple Pay catching on fast, poses threat to PayPal http://t.co/DuEJaMAN08 #IBDBlogs $AAPL $EBAY $GOOGL $WFM $WAG $MCD $PN…
James Johnson Jr
19 Dec 14 11:04:28
Apple Pay catching on fast, poses threat to PayPal http://t.co/LbpHA5Hxqe #IBDBlogs via @IBDinvestors $AAPL $EBAY $GOOGL $WFM $WAG $PNRA
J. Arthur Squiers
19 Dec 14 10:28:07
Apple Pay catching on fast, poses threat to PayPal http://t.co/DuEJaMAN08 #IBDBlogs $AAPL $EBAY $GOOGL $WFM $WAG $MCD $PNRA
Kymberly Jaquez
19 Dec 14 10:03:34
#Stock Market Reports you need on $WAFD $PNRA $AA $LGND Check out http://t.co/O7JqXR7Z1G
Penny Stock Secret
19 Dec 14 09:43:31
Make Money With BitCoin Every Single Day More Info Here http://t.co/SVqoMlijqL .. $PNRA $BXS $CFR
Randell Sotelo
19 Dec 14 09:21:42
Are you considering buying $PNRA $ARW $CPB $RT Try this http://t.co/fYT3mBAOuV
Stockaholics
19 Dec 14 09:20:50
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $PNRA $BXS $CFR
ProVesting
19 Dec 14 09:08:03
$CMG $PNRA: You'll Never Guess Which Fast Food Place Customers Think Is the ... http://t.co/MXHne6Ivq9 http://t.co/5IOLpMuLEa
Mauricio Deluca
19 Dec 14 07:50:19
Did you lose money on $S $FDS $PNRA $BLOX #Research http://t.co/97XA3MPjxA
Nixon Domville
19 Dec 14 07:42:36
Should you buy, sell or hold $PNRA $MSG $MOS $SSO I suggest http://t.co/LhvltCVd9t
Beckie Whittington
19 Dec 14 07:40:22
Would you like great research on stocks $CAG $PNRA $MSCI $CSIQ View now http://t.co/pTDc7kocu1
Mauro Atwood
19 Dec 14 07:13:24
Would you like great research on stocks $PNRA $AA $CPB $SLW #wealthmanagement http://t.co/LGtbaaTx5T
Market Int Center
19 Dec 14 07:04:10
Panera Bread $PNRA Trading Near $165.71 Support Level ( http://t.co/PKg02uRGwY )
Joella Vitale
19 Dec 14 05:22:46
Regretting your investment in $FAST $SBAC $PNRA $CBM View now http://t.co/NxWqcZLUOO
Ruth Patrick
19 Dec 14 05:10:43
Latest Earnings info on $PNRA $EXR $WHR $FEYE Visit http://t.co/EXxxgRAwjH
Lyndsay Fitzsimmons
19 Dec 14 05:03:29
Looking for more info on $OSK $KOS $PNRA $CBM #StockMarket http://t.co/vI6LNMO7mz
Arnulfo Bearden
19 Dec 14 04:31:14
Bad #Invesments like got you down $CI $PNRA $AA $CAG #NSE http://t.co/mwbjQOG90f
Cristi Toney
19 Dec 14 03:44:31
Are you hanging on to $NYX $BLL $PNRA $GRPN Worth a look http://t.co/d6tNOVDie8
Alistair Zhang
19 Dec 14 02:26:34
This weeks Stocks you should Watch $FLO $SPN $PNRA $ISRG Goto http://t.co/VB8fxCVXpv
Helena Sasser
18 Dec 14 19:37:37
Great #Stock Newsletter you must have $PNRA $ULTA $SKT $DF I suggest http://t.co/715DIgAyK0
Hae Forman
18 Dec 14 18:43:49
Buy or sell? $PNRA $EXPE $TRW $CBM #economy http://t.co/aQurUNPUvA
Tempie Ramey
18 Dec 14 17:49:42
Whats going on with $VTR $DDR $PNRA $ABX #equity http://t.co/oGbMjZHxy3
Carlyn Mccloskey
18 Dec 14 17:26:30
Get #Pennystock Research on $PNRA $UGI $CNX $QLYS I suggest http://t.co/ZVmNXsKQqK
AdamMDuthie
18 Dec 14 16:02:59
RT @AndriaCheng: Panera, Chipotle both commit to sourcing meat from humanely treated animals. Could that affect factory farming? http://t.c…
Nicole Halpin
18 Dec 14 15:54:05
RT @AndriaCheng: Panera, Chipotle both commit to sourcing meat from humanely treated animals. Could that affect factory farming? http://t.c…
Brandon Mikkelsen
18 Dec 14 14:35:41
RT @AndriaCheng: Panera, Chipotle both commit to sourcing meat from humanely treated animals. Could that affect factory farming? http://t.c…
				
				
By  +Follow August 21, 2013 9:15AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.