Glazer Capital Adds Pacer International (PACR) to Its Equity Portfolio

Paul Glazer‘s New-York based hedge fund, Glazer Capital has reported a new 7% passive stake in Pacer International, Inc. (NASDAQ:PACR) in a SEC filing. The stake amounts to some 2.7 million shares valued at approximately $23.5 million.

Pacer International, Inc. (NASDAQ:PACR)

Pacer International, Inc. (NASDAQ:PACR) is a major North American transportation and logistics services provider based in Dublin, Ohio. Its share price exhibited steady growth in the past 12 months, ranging from a low $4.29 to a high $9.23 and closing at $9.02 on Friday, March 7th. Analysts expect Pacer’s EPS to double with respect to last year’s earnings of $0.12 per share, the mean recommendation for the stock being ‘Hold’. The company trades at a P/E of 38.63 versus the industry average P/E of 19.30.

At the beginning of the year, XPO Logistics Inc (NYSE:XPO) agreed to buy Pacer International, Inc. (NASDAQ:PACR) for about $335 million in cash and stock. The deal is to be closed in the second quarter of 2014, its value offering an 8% premium over Pacer’s market value at the time of announcement, but only 1% given the company’s market value today.

Matthew Drapkin and Steven R. Becker‘s Becker Drapkin Management holds a 6.1% stake in Pacer International. Other significant shareholders of Pacer International are Peter Schliemann‘s Rutabaga Capital Management and Ric Dillon‘s Diamond Hill Capital holding 1.7 million shares and 1.3 million shares respectively.

Investments in the Healthcare industry represent the largest share (approximately 50%) of Glazer Capital’s equity portfolio. The largest stake is represented by Life Technologies Corp (NASDAQ:LIFE), in which the fund reported a $51 million stake (22% of the portfolio). It is followed by LSI Corp (NASDAQ:LSI), with 1.6 million shares and an aggregate value of around $17.9 million. Moreover, the fund recently revealed a stake of 1.56 million shares in Boulevard Acquisition Corp (NASDAQ:BLVDU), a couple of days after the company’s IPO.

Disclosure: none.

Recommended reading:

Crispin Odey Increases Holding of The Ryland Group, Inc. (RYL) Shares

Luxor Capital Reports New Passive Stake in CONN’s Inc (CONN)

Baker Bros. Advisors’ Latest Moves Involve ACADIA Pharmaceuticals Inc. (ACAD) & Synageva Biopharma Corp (TRMS)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

Subscribe

Enter your email:

Delivered by FeedBurner

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!