Billionaire George Soros Believes Penn Virginia Corporation (PVA) is Undervalued; Buys More of the Stock

George Soros‘ Soros Fund Management increased its activist stake in Penn Virginia Corporation (NYSE:PVA). The fund now holds slightly more than 6.00 million shares of Penn Virginia - approximately 9.18% of the company’s common stock, after purchasing 670,000 shares for a total price of $8.71 million, and selling 165,000 shares at $11.92 per unit.

George Soros

According to the filing, Soros believes Penn Virginia Corporation (NYSE:PVA) is undervalued and represents an attractive investment opportunity. Moreover, he considers that the company has been very well managed and that the financial incentives for its management team should be enhanced, but mentioned that Penn should explore strategic alternatives as a means to enhance or maximize shareholder value and intends discuss the matters with the company’s management and/or Board of Directors.

With a market capitalization of nearly $1.00 billion, Penn Virginia Corporation (NYSE:PVA) is a major Crude Petroleum & Natural Gas company. Penn deals primarily with natural gas, which represents 82 percent of its energy reserves. The company has been generating losses in the past 4 years, with a loss of $143.07 million in fiscal year 2013. Recently the expectations for the stock have been upgraded, analysts providing a mean recommendation of “Overweight”, due to steady revenue growth that exceeds the industry average of 3.1% and increased earnings per share. The company is expected to generate $0.11 earnings per share this year, a great improvement with respect to the  losses of $2.36 per share sustained in 2013 and trades at a Forward P/E of 25.xx

In the recent news, Ken Griffin‘s Citadel Investment Group cut its holdings of Penn Virginia Corporation (PVA) to 2.96 million shares, but later revealed an increased position of 5.55 million shares. Another significant shareholder of Penn Virginia is Charles Davidson‘s Wexford Capital.

Soros Fund Management holds a quite diversified equity portfolio valued at $11.77 billion, with 25% of the portfolio represented by investments in the Technology Sector. The largest long position in the portfolio consists of 9.32 million shares in Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), worth $373.39 million – a share of 3.18% in the total value of the portfolio.

Disclosure: none

Recommended Reading:

George Soros’ Stock Moves Include Penn Virginia

Soros Fund Management Disposes More Digital River, Inc. (DRIV) Bonds

Park West Asset Management Reveals New Position in World Wrestling Entertainment, Inc. (WWE)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 34 Smartest Countries in the World

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

Subscribe

Enter your email:

Delivered by FeedBurner

X

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!