Sandridge Energy closed at $11.12 on Wednesday. Yesterday the stock lost nearly $1.50 per share. The decline accelerated today. Currently SD is down $2.78 and trading below $7 per share. Here are the 5 hedge funds and prominent investors hurt by the decline in Sandridge:
1. T. Boone Pickens – BP Capital: TBP had nearly 2 million shares of SD at the end of first quarter. His estimated loss is around $8 Million in two days.
2. Wallace Weitz: Weitz had the largest position in Sandridge among the nearly 350 funds we are tracking. Weitz’s estimated loss is $23 Million in two days.
3. Steve Cohen – SAC Capital: Cohen lost nearly $200 Million yesterday because of the huge decline in DNDN. Luckily he only had 3 Million shares of SD in his portfolio and his two-day loss is $12 Million.
4. John Burbank – Passport Capital: Burbank lost more than $9 Million.
5. John Kleinheinz – Kleinheinz Capital Partners: Kleinheinz lost nearly $9 Million in two days.