A Look At Smart Money Three Latest Moves

Page 2 of 2

Deerfield Management focuses on healthcare stocks, specialist in funding R&D, managing hostile takeovers, corporate transitions and financial advisory services. In its latest filing with the SEC, Deerfield Management revealed a 9.99% passive stake in Flamel Technologies S.A. (ADR) (NASDAQ:FLML). The stake contains 7.37 million shares, which represents an increase from 4.07 million shares the fund held at the end of the third quarter.

Flamel Technologies is a pharmaceutical company, with a market cap of $512.31 million. The company was able to boots third-quarter revenue to $47.32 million from $11.81 million a year earlier. However, net income dropped to $29.68 million compared to $57.76 million in the same quarter of 2014. The performance of Flamel Technologies’ stock does not seem impressive, the shares declining by 28.68% during the last year. The total number of hedge funds in our database holding shares of Flamel Technologies S.A. (ADR) (NASDAQ:FLML) dropped to 13 at the end of the third quarter of 2015, compared to 17 funds a quarter earlier. The value of these investments fell to $189.66 million, versus $265.03 million the end of June. Kevin Kotler’s Broadfin Capital was holding 4.39 million shares of Flamel Technologies S.A. (ADR)(NASDAQ:FLML) at the end of the third quarter last year.

In an amended filing, Corvex Capital disclosed upping its position in Signet Jewelers Ltd. (NYSE:SIG) to 5.63 million shares from 5.05 million shares held by the investor at the end of the third quarter last year. The stake represents 7.1% of the company’s outstanding common stock. Signet Jewelers Ltd. (NYSE:SIG), a diamond jewelry retailer, reported strong financial results for the 13 weeks ended October 31, 2015. The company’s total sales rose by $38.5 million to $1.22 billion, compared to the same period of 2014. It reported net income of $15 million compared to a loss of $1.30 million in 2014. During the last year, shares of the company lost 5.46%. Signet Jewelers Ltd. (NYSE:SIG) is also a favorite stock of Robert Joseph Caruso’s Select Equity Group, which held 3.64 million shares of the company at the end of September.

Follow Keith Meister's Corvex Capital

Disclosure: none

Page 2 of 2