Posted on 08/21/2017 7:02:17 PM PDT by Freedom of Speech Wins
George Soros' hedge fund firm has recently filed two separate 13G's with the SEC to update some of its positions. Firstly, we see that Soros Fund Management has disclosed a 5.26% ownership stake in Dana Holding Corp (NYSE:DAN) with 7,331,132 shares. The filing was made due to activity on November 20th, 2009 and represents a massive increase in Soros' position in DAN. As per its last 13F filing where the fund disclosed its positions as of September 30th, Soros owned only 1,500,000 shares of DAN. This means Soros has heavily boosted its equity stake in the past two months.
(Excerpt) Read more at seekingalpha.com ...
Wow! Conspiracy much?
“Dana (NYSE:DAN) is a very well-run company in a cyclical, slow growing industry. Despite management employing an asset light operating model and doggedly maintaining margins, the company’s PE multiple remains well below comparable companies with similar returns. This disconnect appears to be linked to a recent history of declining revenues driven primarily by factors outside of management’s control, however, a growing order back-log is set to reverse this trend. The return of sales growth is expected to pave the way for increased margins and earnings growth. Together, these factors can drive significant stock price appreciation as they typically lead to multiple expansion on rising earnings. Moreover, even without management’s growth expectations, the company’s underappreciated business model provides significant room to buy back stock and increase dividends to ultimately boost stock price.”
I suppose you could do worse. Soros is no dummy when it comes to investing.
Interesting.
You think Soros had this planned back in 2009?
No.
Developed relationships with people for future use probably though.
ping
Agree.
He bought most of his Dana shares between $5-$10.
The stock recently hit a ten year high at $25, and it pays a 1% dividend on its steadily increasing stock value.
I have no idea if, or when, Soros sold any shares, so its possible Soros sold out before he made a lot of money.
That info would be in the hedge fund prospectus, but I don't feel like researching it at the moment.
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