Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Billionaire Carl Icahn Unloads Some WebMD Health Corp. (WBMD) Shares

An update from the hedge fund universe: Icahn Capital Lp, the hedge fund managed by billionaire Carl Icahn, reported a sale of around 1.2 million shares of WebMD Health Corp. (NASDAQ:WBMD) on Tuesday. According to the 13D filing with the SEC, Icahn’s position in the company currently involves around 5.5 million shares, valued at approximately $172.6 million.

The move is particularly interesting, since WebMD’s chairman dropped around 185,900 shares yesterday, while the director of the company sold about 6,800 shares last week. The company is in the midst of a 5 million share buyback; WebMD’s common stock purchases were scheduled to be priced at $34 a share.

Hedge Fund Strategies

Seeing as Icahn is one of the biggest activist hedgies, it is particularly important to track all of his moves. As follows, according to data from past 13F filings, Icahn’s position in WebMD went unchanged for over a year, with the last move representing an increase of around one million shares. As is common in this space, Icahn has been holding onto the stake for some time since his first acquisition of 2.2 million shares was made in the middle of 2011.

A few other hedge funds that are long WebMD Health Corp. (NASDAQ:WBMD) include Kensico Capital, managed by Michael Lowenstein, Columbus Circle Investors, managed by Donald Chiboucis, and D. E. Shaw’s D E Shaw & Co.

Recommended reading:

Donald Yacktman Explains Why Apple Isn’t As Cheap As You Think

Big Investors Are Buying ARO, NWSA and More

My Top 2 George Soros Picks

Disclosure: none

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!