Connect with us

Hi, what are you looking for?

Jewish Business News

Leadership & A-List

3 New Positions for David Tepper’s Appaloosa Management

Key Speakers At The Robin Hood Foundation Investors Forum

David Tepper’s Appaloosa Management initiated 3 new holdings in 2Q which include:   Mohawk Industries (MHK), Ryland Group (RYL) and Weatherford International (WFT) and got rid of its MetLife (MET) position.

Mohawk is now  1.10% of the portfolio and was purchased between $130 and $141. It now trades at $145. In its most recent quarter, reported July 31, the company beat earnings estimates by 2 cents but missed revenues by 30M.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.

Ryland Group comprises 0.60% of the portfolio, and was bought between $36 and $41.50. It currently trades at 37.15%. The stock rose recently on news that housing starts increased 15.7% in July.

Weatherford is 0.86% of the portfolio, and was purchased in the range of $22 and $28. It trades at $22.28. The company recently announced an earnings beat of 3 cents but missed on revenues by 70 million.

Appaloosa Management sold MetLife (MET), which was 0.65% of the portfolio and had been sold off consistently since 2013, when it comprised 3% of the portfolio. The position was sold in the range of  $49 and $57, and it was purchased in Q4 2012 and Q3 2013 in the range of  $31.50 and $40.20. It now trades at $50.63. The Wall Street Journal reported yesterday that MetLife is one step closer to a “systemically important financial institution” designation by the government. 

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.