Cadian Capital Management Edges Up Stake in General Cable Corporation (BGC)

In a filing, Eric Bannasch’s Cadian Capital Management, revealed that it has slightly raised its exposure to General Cable Corporation (NYSE:BGC) to 4,841,152 shares from 4,839,452 shares, as revealed by the fund in its latest 13F filing. The current holding represents a 9.76% stake of the company’s common stock. General Cable Corporation (NYSE:BGC) General Cable Corporation (NYSE:BGC) develops, designs, manufactures, markets and distributes aluminium, copper and fiber optic wire and cable products for the industrial, energy and communications markets. Last month, General Cable Corporation (NYSE:BGC) declared a quarterly dividend of $0.18 per share. The company has extended the $125 million share repurchase program through the end of 2014, which was set to expire at the end of 2013. Of $125 million worth of securities, $106 million still remain outstanding after the repurchase of $19.0 million worth of shares in the second quarter of 2013. Basswood Capital, managed by Matthew Lindenbaum, is also bullish on General Cable Corporation (NYSE:BGC) where it holds 563,547 shares, with a reported value of $17.89 million. Another hedge fund interested in the stock is, Aqr Capital Management, led by Cliff Asness which has 335,576 shares in its equity portfolio. Gregory Kenny, director at General Cable Corporation (NYSE:BGC), has been accumulating the shares of the company in small numbers, and now holds 420,525 shares. Robert Siverd, executive VP and General Counsel at General Cable is also buying in small amounts, and now amasses 30,120 shares. Cadian Capital Management mainly focuses in technology, media, and telecommunications sectors. The fund has shown keen interest in LogMeIn Inc (NASDAQ:LOGM), where it now holds 2.56 million shares. Early this month, the fund has raised its exposure to COMSCORE, Inc. (NASDAQ:SCOR) to 3.57 million shares, from 3.28 million shares held earlier. The fund also boosted its stake in Green Plains Renewable Energy Inc. (NASDAQ:GPRE), a couple of months back, to 3.8 million shares from 1.5 million shares held earlier. Disclosure: none Recommended Reading: General Electric Company (GE) Continues to Witness Strong Insider Activity DLS Capital Management Decreases Position in ChipMOS Technologies (Bermuda) Ltd (IMOS) Hedge Fund News: Warren Buffett, Paul Singer & Carl Icahn
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