Blue Mountain Capital Decreases Stake in Lexmark International Inc (LXK)

Andrew Feldstein and Stephen Siderow‘s Blue Mountain Capital Management has decreased its stake in Lexmark International Inc (NYSE:LXK) down to 3.78 million shares, from approximately 4.42 million shares held earlier. Currently, Blue Mountain owns 6.1% of Lexmark’s Class A common stock.

Andrew Feldstein and Stephen Siderow

In the first week of December the Blue Mountain Capital Management had raised its stake in the company to 5.08 million shares. Later the fund shed some of its shares, reducing the position to 4.4 million shares.

In the business roundup provided by the company at the beginning of December, Lexmark International Inc (NYSE:LXK) pointed out several significant transactions such as the purchase of PACSGEAR, a provider of connectivity solutions for healthcare companies. The company also initiated a share repurchase agreement with Bank of America, under the terms of which Lexmark bought back $20 million, worth of Class A outstanding shares held by Bank of America.

Another fund, Iridian Asset Management, led by David Cohen and Harold Levy, owns 2.16 million shares of Lexmark International Inc (NYSE:LXK), worth $71.12 million. Cliff Asness’ Aqr Capital Management also holds a significant stake, which amasses 679,100 shares, with a value of $22.41 million.

Andrew Feldstein and Stephen Siderow‘s Blue Mountain Capital Management focuses on credit and equity derivatives markets and follows a relative value strategy.

Earlier in November, BlueMountain Capital attempted the takeover of Chatham Lodging Trust (NYSE:CLDT). The fund offered a bid of $21.50 per share, which, however, was rejected by the company. 

Also a couple of months ago, the fund boosted its exposure in RadNet, Inc. (NASDAQ:RDNT) to 5 million shares from 3 million shares. Another stock in which the fund has a significant stake is Valero Energy Corporation (NYSE:VLO), in which it owns 2.74 million shares, worth $93.42 million.

Disclosure: none

Recommended Reading:

Pershing Square Increases Stake in Howard Hughes Corp (HHC)

Top 10 Most Expensive Cities for Expats

Steven Cohen Opens Position in E-House (China) Holdings Limited (ADR) (EJ)

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!