Arthur J. Samberg, even though he has been off the radars for the past couple of days, is still a notorious person in the investment universe. The former CEO, president and chairman of Pequot Capital Management, Mr. Samberg was managing one of the largest hedge funds in the world with over $15 billion in assets under management. The flagship fund managed to return on average around 18% since 1986. After a litigation involving insider trading, which also involved Microsoft Corporation (NASDAQ:MSFT), Arthur Samberg and Pequot agreed for a settlement, which involved huge fines and censuring of Pequot. Moreover, Mr. Samberg was banned from association with any investment adviser.
In one of the recent filings with the SEC, Mr. Samberg disclosed a passive stake in Endeavour International Corporation (NYSE:END). The stake contains 3.2 million shares, equal to 6.6% of the company’s common stock. The position contains 1.95 million shares and another 1.25 million that will delivered upon the exercise of options within 60 days of March 11. In one of its late 13F filings, back in 2009, Pequot reported an $1.1 million stake in Endeavour, which contained around 820,500 shares.
Endeavour International Corporation (NYSE:END) is an independent oil and gas company engaged in the exploration and development of energy reserves. The stock of the company has been down by over 30% since the beginning of the year. The decline came on the back of negative financial results, Endeavour International Corporation (NYSE:END) reporting a net loss of -$0.60 per share for the fourth quarter of 2013, significantly down from a loss of -$0.15 posted a year ago. Moreover, the company stated in a press release that it plans a capital expenditure program between $60 and $80 million. Its stock trades at 16 times the estimated earnings and the average recommendation for the stock is “Overweight.”
Some of the hedge funds that we track are also bullish on Endeavour International Corporation (NYSE:END), according to their latest 13F filings. Michael Johnston‘s Steelhead Partners has initiated a position recently, and currently holds around 6.3 million shares, as well as Jerome L. Simon‘s Lonestar Capital Management, which also disclosed a new stake with 2.2 million shares.