Yellow | Insider Trades: Hedge Fund Billionaire Marc Lasry Increases Stake in YRC Worldwide
- Thread starter Triplex
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If he's buying at all at the current price he obviously is bullish on the companies prospects regardless of what he already owns.
Sure, he got to be a billionaire because he flushes his money down the toilet. Don't quit your day job.
Don't choke on the koolaid. Come up for fresh air every now and then.
Let's see now - should I be influenced by the advice of someone who has become a billionaire or by someone who is nothing more than a disgruntled employee whose only claim to fame is smart-ass comebacks.. Gee, tough choice.
Freightmaster1
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Welch + Wilson + Lasry + Hoffa + Johnson + Sweeton =$$$$$$$$$$$$$$$$$$$ FOLLOW THE MONEY!
cellblock309
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scary thought he gets enough shares = hostile take over close yrc and keep new penn and holland
Do they need a hostile take over to do that?
Lasry and his hedge fund own approximately 15% of YRC stock, if the 9.4 M shares outstanding is correct.
Being a manager of a hedge fund, I suspect he is shorting the stock.
I have asked for more info on this guy and where he is going with this in another thread.
You're absolutely correct. I missed seeing his purchase of 1,302,000 shares on July 29th. That certainly increases his ownership percentage.
I missed it, too!
Jeepster found it.
Here is a list of all of the purchases so far:
YRCW Insider Transactions | YRC Worldwide, Inc. Stock - Yahoo! Finance
Here is the record of what he owns directly:
YRCW Insider Roster | YRC Worldwide, Inc. Stock - Yahoo! Finance
He owns some personally and some beneficially.
I invite anyone to shed more light on this subject and Mr. L.
Lasry's firm is Avenue Capital Group
The fact he feels it's a sustainable business is a positive, but also makes me wonder if he does work a takeover specialist?
From > Avenue Capital Group - Wikipedia, the free encyclopedia
The fact he feels it's a sustainable business is a positive, but also makes me wonder if he does work a takeover specialist?
If so, who is he buying for?
From whom or where did 1.3 M shares surface, to be purchased as a block?
There is no insider info on that sale, only on his/Avenue's purchase.
That is what puzzles me.
(We are a sustainable business as a company in a different form.)
We are attractive because of our network.
Just answered my own question.
Shares outstanding has jumped from 9.4 M to 10.8 M.
The transaction was company issued stock that is now diluted further.
Hence the continued drop in price, issuing shares to a hedge fund at a discount.
Those were issued because the stock hit a certain conversion price for the bond holders. It was Part of the last restructuring deal.
So, you are saying that the 1.3 million shares now held by the hedge fund, Avenue Capital Management, are to be transferred to the bond holders?
(Lasry is the fund manager, but owns a separate block of shares.)
Or, the money exchanged in that transaction was used by YRC to pay the bond holders because of the strike (conversion) price. ($27.67)
If the second option is true, ACM can only make money on the transaction by shorting the stock.
If you have more info, please share.