Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Fir Tree Inc. Reported 13.2% Activist Stake in Chinacast Education

Fir Tree Inc. reported 13.2% activist stake in Chinacast Education Corp (CAST) on December 2nd. The filing shows Fir Tree now takes 6.45 million shares in the stock, and the position is unchanged since the second quarter. In the filing, Fir Tree restated its rights as a large stakeholder, and its designation of the issuer’s board of directors. Fir Tree may engage in communications with one or more shareholders or officers of CAST in the future, regarding these terms. CAST is now trading at $5.29, and has lost 31% year to date.

Jeffrey Tannenbaum

There are other hedge funds were bullish about CAST in the second quarter. Beside Fir Tree Inc.’s 6.45 million shares position, Chuck Royce’s Royce & Associates increased its position by 42%, and reported 2.51 million shares. Jeffrey Edwards’ East Peak Partners added CAST into its portfolio in the second quarter and reported 1 million shares .

According to Fir Tree’s profile on Linkedin, Fir Tree is a privately owned hedge fund. The firm manages a series of hedge funds and invests in the public equity and hedging markets of the United States. The firm typically invests in Technology, Financial, Services, Healthcare, Basic Material, and Consumer Goods sector. Fir Tree was founded in 1994 and is based in New York City with an additional office in Miami, Florida.

Per Google Finance, ChinaCast Education Corporation (CEC) “is a post-secondary education and e-Learning services provider in People’s Republic of China. The Company provides post-secondary degree and diploma programs through its two universities in China: The Foreign Trade and Business College of Chongqing Normal University and the Lijiang College of Guangxi Normal University. These universities offer bachelor’s degree and diploma programs in business, economics, law, information technology (IT)/computer engineering, hospitality and tourism management, advertising, language studies, art and music. The Company operates in two segments: the E-learning and training service group (the ELG). The Company provides its e-Learning services to post-secondary institutions, kindergarten through 12th grade (K-12) schools, government agencies and corporate enterprises via its nationwide satellite/fiber broadband network.”

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!