Elite Hedge Funds’ Bullish Moves On These Four Stocks

Another Schedule 13G filed with the SEC revealed that Ricky Sandler’s Eminence Capital L.P. owns 12.01 million shares of Pandora Media Inc. (NYSE:P). This compares to the 10.07 million-share position disclosed through its 13F filing for the second quarter. The freshly-updated stake accounts for 5.6% of the company’s outstanding shares. The shares of the music streaming service are down by 31% year-to-date, mainly “thanks” to its recently-disclosed third quarter results on October 22 (read more details here). Earlier this week, Pandora Media Inc. (NYSE:P) announced the completion of its acquisition of online ticket agency Ticketfly, which is anticipated to “create the definitive music platform for connecting fans, artists and even promoters”.

However, the stock lost some of its charm within the hedge fund industry during the second quarter, as the number of hedge funds with positions in the company decreased to 30 from 37 quarter-over-quarter. Similarly, the value of hedge funds’ stakes in the company decreased to $689.76 million from $752.05 million during the June quarter, though they still amassed 21% of Pandora’s shares on June 30. Brookside Capital acquired a 2.82 million-share stake in Pandora Media Inc. (NYSE:P) during that three-month period.

As stated by a 13G filing, Daniel S. Och’s OZ Management L.P. holds an ownership stake of 11.65 million shares in Endo International plc (NASDAQ:ENDP), which constitutes 5.15% of the company’s common stock. This denotes a lift of 2.81 million shares from the position revealed through the firm’s 13F filing for the June quarter. The shares of the specialty healthcare company have been pressured by the talk of drug pricing and other closely-related issues, and are down by nearly 15% year-to-date. Just recently, Endo International plc (NASDAQ:ENDP) and BioDelivery Sciences International Inc. (NASDAQ:BDSI) announced that the U.S. FDA approved their opioid treatment BELBUCA (buprenorphine HCI), which they are anticipated to start commercializing during the first quarter of 2016.

Meanwhile, the number of hedge funds observed by our team with positions in the healthcare company increased to 67 from 63 during the June quarter, and they accumulated slightly over 27% of its outstanding shares. By the same token, the value of these positions climbed to $4.46 billion from $4.18 billion quarter-over-quarter. Larry Robbins’ Glenview Capital had an 8.84 million-share position in Endo International plc (NASDAQ:ENDP) at the end of the second quarter.

Disclosure: None