David Abrams’ Abrams Capital Management Filed 28.9% Activist Stake in $CCMO

David Abrams’ Abrams Capital reported its 28.9% activist stake in CC Media Holdings Inc. (CCMO) on November 28st. Now Abrams Capital has 6.81 million shares in CCMO, after the firm made insider purchases for 2.12 million shares at $4 per share on November 21st. Abrams Capital initiated its CCMO position in July 2011 and reported 4.69 million shares at that time. After David Abram’s filing, CCMO surged 17% and is now trading at $4.90.

David Abrams

David Abrams graduated from University of Pennsylvania with a B.A. degree in History. Prior to forming Abrams Capital Management in 1999, Abrams worked at Seth Klarman’s Baupost Group for 10 years. In the nearly 12 years since Abrams started his fund he has achieved an annualized return of around 20 percent (net of fees).

Per Yahoo! Finance, CC Media Holdings, Inc. “operates as a media company primarily in the United States. The company operates in three segments: Radio Broadcasting, Americas Outdoor Advertising, and International Outdoor Advertising.” The company was founded in 1972 and is based in San Antonio, Texas.

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click Here to Read Comments
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!