If you aren't tired of hearing about J.C. Penney yet (JCP), here's even more hedge fund activity in the name:
Kyle Bass Starts J.C. Penney Stake
First, a 13G filed with the SEC has revealed that Kyle Bass' Hayman Capital owns a 5.2% stake in J.C. Penney (JCP) with over 11.4 million shares. This is a brand new position for the hedge fund as they did not own any JCP at the end of the second quarter.
Perry Buys Ackman JCP Shares
Recently, we highlighted how Richard Perry's hedge fund Perry Capital had taken a position in JCP. Well, they've since added to that position. We also flagged how Bill Ackman was exiting his JCP stake and as it turns out, Perry was one of the buyers, purchasing 3 million shares at $12.90. They now own around 8.62% of the company
This whole JCP saga will make for a very interesting investing/business school case study one day.
Tuesday, September 3, 2013
Kyle Bass Discloses J.C. Penney Stake; Perry Buys Some of Ackman's Shares
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