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Coliseum Capital Buys Even More Accuride Corporation (ACW) Shares

Christopher Shackelton and Adam Gray have not changed their mind about Accuride Corporation (NYSE:ACW). In a recent Form 4 filing with the Securities and Exchange Commission, Shackelton and Gray have revealed a further increase in their investment. Their fund, Coliseum Capital, has acquired 24,700 shares in one transaction at a price of $3.38 apiece. As a result, the fund now holds a little over 8.2 million shares. Considering the current stock price of $3.58, Coliseum’s holding has a value of $29.4 million.

Accuride Logo

Accuride Corporation (NYSE:ACW) has caught the attention of several other hedge fund gurus. Jim Simons has also joined the fan club, adding to his fund’s position during the third quarter of 2013. At the end of September, Renaissance Technologies reported ownership of 206,400 shares, a 30% quarterly increase, valued at a little over $1 million. James Dinan and York Capital Management are also keeping tabs on this stock. According to their latest 13F report, the fund holds 2 million shares valued at approximately $10.2 million. David E. Shaw has also added to his position during Q3. His fund, D E Shaw, currently owns 375,533 shares worth about $1.9 million.

Accuride Corporation (NYSE:ACW) stock has been in an uptrend in the first half of 2013, forming a top at $6.88 per share in July. A correction followed and the stock is still trading close to its all time low of $2.21. The company has a market cap of $169 million and does not pay a dividend.

In their latest quarterly report, Accuride Corporation (NYSE:ACW) posted revenues of $155 million but a loss per share of $0.39. Analysts are not too optimistic, expecting the company to register revenues of $141 million and a loss of $0.16 per share at the end of the current quarter.

Disclosure: none

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