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

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

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

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!