Bloomin’ Brands Inc (BLMN), DSW Inc. (DSW), LogMeIn Inc. (LOGM): Five Stocks Billionaire Steven Cohen Bought in The Past Two Months

Billionaire Steven Cohen has been quite active over the past couple of months. The hedge fund manager filed five Schedule 13G forms at the SEC over the period. Let’s take a look at these moves, anticipating his 13F filing for the second quarter of 2014. Cohen shut down his fund SAC Capital Advisors and opened Point72 Asset Management that manages Cohen’s personal wealth and assets earlier this year. Bloomberg has reported that Cohen’s new fund has been up 9% this year, significantly beating the average hedge fund return of around 2.5%. Over the past decades, SAC Capital returned around 30% per year. According to the Bloomberg’s Billionaire Index, Cohen’s current net worth amounts to $11 billion.

Most recently, on July 28, Mr. Cohen almost doubled his exposure to Bloomin’ Brands Inc (NASDAQ:BLMN). He now owns 6.28 million shares –up from 3.67 million, which account for 5.0% of the company’s outstanding stock. This stake is worth approximately $124.66 million at current stock prices.

SAC CAPITAL ADVISORS

Bloomin’ Brands Inc (NASDAQ:BLMN) is a $2.5 billion market cap, casual dining restaurant company that boasts an industry-leading returns on equity -48.6% TTM. Ken Griffin’s Citadel Investment Group and Israel Englander’s Millennium Management are also betting on Bloomin’ Brands Inc (NASDAQ:BLMN). They both increased their participation in the company over the first quarter of 2014, and now hold 3.12 million shares and 2.99 million shares, respectively.

On July 18, Cohen boosted his stake in AMC Entertainment Holdings Inc (NYSE:AMC), from 28.500 shares disclosed at the end of the first quarter, to 1.08 million shares, which also represent 5.0% of the company’s shares outstanding. Once again, Ken Griffin is amongst the largest hedge fund shareholders at AMC Entertainment Holdings Inc (NYSE:AMC), with 943,854 shares declared by the end of the first quarter. AMC Entertainment Holdings Inc (NYSE:AMC) is a $2.2 billion market cap theatrical exhibition company that boasts above-average returns on equity, while its stock trades at only 5 times the company’s earnings, at a 75% discount to its peers.

On July 10, the famed investor increased his exposure to LogMeIn Inc. (NASDAQ:LOGM), a $1.04 billion market cap IT company. Cohen now owns 1.26 million shares, which account for 5.2% of the shares of their class, up from 1.25 million shares disclosed on April 16. On the opposite, Eric Bannasch’s Cadian Capital, the largest shareholder of record, trimmed its stake in LogMeIn Inc. (NASDAQ:LOGM) from 1.75 million shares disclosed by the end of the first quarter, to 1.34 million shares, declared on July 7.

On June 26, the billionaire started a position, with 1.73 million shares, at Tri Pointe Homes Inc (NYSE:TPH), amassing 5.5% of the company’s shares outstanding. Tri Pointe Homes Inc (NYSE:TPH) is a $2.2 billion market cap residential homebuilder in the U.S. Another fund that seems quite bullish about Tri Pointe Homes Inc (NYSE:TPH) is Clint Carlson’s Carlson Capital, which, on June 10, boosted its exposure to the company, from 600,000 shares, to 4.86 million shares.

Finally, on May 28, Mr. Cohen almost quadrupled his participation in DSW Inc. (NYSE:DSW). He now holds 5.7% of the company’s outstanding stock, or 4.72 million shares. Yet again, Griffin’s Citadel Advisors, is also amongst DSW Inc. (NYSE:DSW)’s bulls. The fund doubled its exposure to the small-cap footwear retailer on June 12, and now owns 4.54 million shares of the company.

Disclosure: Javier Hasse holds no position in any stocks or funds mentioned

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!