Billionaire Einhorn’s Top Mid-Cap Picks Beat The Market By 13 Percentage Points a Year

Avangrid Inc (NYSE:AGR)

Greenlight Capital sold 228,200 Avangrid Inc (NYSE:AGR) shares in the third quarter, ending the period with a total of 3.094 million shares of the company, which have a total worth of $129.30 million. The stock is down about 5.8% since the start of the year. On December 2, the Connecticut-based utility company declared a quarterly dividend of $0.432 per share, or $1.728 a year. In the third quarter, Avangrid earned $0.35 per share, much less than the estimates of $0.59 a share, while revenue in the period came in at $1.42 billion, versus the consensus estimate of $1.58 billion. At the end of the third quarter, 20 hedge funds tracked by Insider Monkey held stakes in Avangrid Inc(NYSE:AGR), up from 14 funds a quarter earlier.

Rite Aid Corporation (NYSE:RAD)

Greenlight Capital acquired over 3.11 million shares of Rite Aid Corporation (NYSE:RAD) in the third quarter, boosting its stake in the company by a whopping 30%. Moving into the fourth quarter, the fund reported ownership of 13.44 million shares of the Pennsylvania-based retail drugstore chain. Last month, several reports affirmed hopes of Rite Aid and Walgreens Boots Alliance (NASDAQ: WBA)’s merger, which hasn’t closed yet. Rite Aid shares sold off earlier due to the Federal Trade Commission (FTC)’s insistence that the companies divest between 500 and 1,000 stores. Bulls hope a Trump presidency could be more accomodative, if need be. Of the 742 elite funds in our database, 54 funds were long Rite Aid Corporation (NYSE:RAD) at the end of the third quarter.

PVH Corp (NYSE:PVH)

Greenlight Capital sold 13% of its stake in PVH Corp (NYSE:PVH) in the third quarter, and reported ownership of 529,170 shares of the company at the end of the period. The updated position was valued at $58.47 million. Financial services firm UBS reiterated a ‘Buy’ rating for New York-based clothing company amid upbeat third quarter results. PVH earned $2.60 per share on $2.24 billion revenue, versus the consensus estimate of $2.40 EPS and $2.23 billion revenue. UBS also upped its price target for the company to $130 from $125. D. E. Shaw owns 1.42 million shares of in PVH Corp (NYSE:PVH), as of the end of the September quarter.

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