Coliseum Capital’s Latest Moves Include New Position, More Profit Taking

Let’s move on to LHC Group, Inc. (NASDAQ:LHCG), which we covered back in June when Coliseum reduced its stake in the company to 2.17 million shares at that time. The reduction appeared to be little more than profit taking at the time, with shares up by nearly 20% year-to-date. The potential for profit taking has only intensified since then, as shares are now up by over 52% this year following an early August spike on the back of the company’s latest earnings report.

A provider of post-acute healthcare services,LHC Group, Inc. (NASDAQ:LHCG) reported a 6% increase in net service revenue year-over-year for the second quarter, and a 47.7% spike in net income. Furthermore, the company raised its guidance for the full 2015 fiscal year. The strong earnings have also prompted the company to consider growth initiatives such as acquisitions. It has reportedly considered 150 such possibilities so far this year.

Unfortunately for many of the funds tracked by Insider Monkey, they have seemingly missed out on the profit taking fun. James Dondero’s Highland Capital Management was one of the few other funds in our database with a notable position in LHC Group, and it did cash out of nearly half its stake in the second quarter, 100,768 shares total, leaving it with 109,232 shares as of June 30. Jim Simons’ Renaissance Technologies also sold off a chunk of its position, 49,998 shares in total during the second quarter, leaving it with 91,200 shares.

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