Cablevision Systems Corp (CVC) slumps today after the company announced yesterday that its COO, Tom Rutledge, would resign from the management team. Rutledge has served in Cablevision for nearly 10 years. He joined the company in 2001, and became COO in 2004.
CVC closed yesterday at $13.93, and is trading at $11.89 at 12:25PM EST on Friday, down 14.64% or $2.04. Here is a list of hedge funds that may lose millions of dollars due to the decline.
1. Tiger Global Management – Chase Coleman: loses $13.98 million
2. Blue Ridge Capital – John Griffin: loses $10.47 million
3. Omega Advisors – Leon Cooperman: loses $6.50 million
4. Empyrean Capital Partners – Michael A. Price and Amos Meron: loses $4.15 million
5. D. E. Shaw – David E. Shaw: loses $2.52 million
6. Carlson Capital – Clint Carlson: loses $2.35 million
7. Citadel Investment Group – Ken Griffin: loses $2.33 million
8. Wexford Capital – Charles Davidson: loses $2.02 million
9. Highbridge Capital Management – Glenn Russell Dubin: loses $1.87 million
10. SAC Capital Advisors – Steven Cohen: loses $1.71 million
DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in CVC since the end of September. We did not take into account their option positions.