Douglas Silverman and Alexander Klabin‘s Senator Investment Group recently acquired a new position in Comstock Resources Inc (NYSE:CRK), according to a new 13G filing with the Securities and Exchange Commission. Its stake in the company consists of 922,754 common shares (including 93,500 common shares issuable upon the exercise of warrants), which amass 7.32% of the company’s outstanding stock.
Comstock Resources is an energy company that produces oil and natural gas. Over the past 12 months, the company’s stock has lost 31.29%. For the second quarter of 2016, Comstock Resources disclosed a net loss excluding items of $46.8 million or $4.05 per share, compared to a net loss of $51.2 million or $5.56 per share for the corresponding period in 2015. Earlier this month, Robert W. Baird boosted its price target on Comstock Resources’ stock to $10 from $6, and has a ‘Neutral’ rating on it.
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The number of hedge funds in Insider Monkey’s database long Comstock Resources (NYSE:CRK) decreased by three in the second quarter, as at the end of June, there was only two investors bullish on the company. D E Shaw, founded by David E. Shaw, held a $350,000, while William Michaelcheck’s Mariner Investment Group held a position valued at $237,000.
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Investors who sold their positions in Comstock Resources (NYSE:CRK) during the June quarter included Jim Simons’ Renaissance Technologies, which said goodbye to $121,000 worth of Comstock Resources’ shares, and Israel Englander’s Millennium Management, which dumped its position that was valued at $20,000 on March 31.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| SENATOR INVESTMENT GROUP | 0 | 922,754 | 0 | 922,754 | 922,754 | 7.32% |
| ALEXANDER KLABIN | 0 | 922,754 | 0 | 922,754 | 922,754 | 7.32% |
| DOUGLAS SILVERMAN | 0 | 922,754 | 0 | 922,754 | 922,754 | 7.32% |
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Page 1 of 9 – SEC Filing
| UNITED STATES | |
| SECURITIES AND EXCHANGE COMMISSION | |
| Washington, D.C. 20549 | |
| SCHEDULE 13G | |
| Under the Securities Exchange Act of 1934 | |
| Comstock | |
| (Name of Issuer) | |
| Common Stock, | |
| (Title of Class of Securities) | |
| 205768302 | |
| (CUSIP Number) | |
| September | |
| (Date of Event Which Requires Filing of This Statement) | |
| Check the appropriate box to designate the rule pursuant to which this Schedule is filed: | |
| ¨ | Rule 13d-1(b) |
| x | Rule 13d-1(c) |
| ¨ | Rule 13d-1(d) |
| (Page 1 of 8 Pages) | |
______________________________
*The remainder of this cover page shall
be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any
subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder
of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of
1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).
