Billionaire Glenn Russell Dubin‘s Highbridge Capital Management recently filed a Form 13G with the SEC to report an increase to its stake in Healthsouth Corp (NYSE:HLS). The fund now holds ownership over 5.07 million common shares (which include 5.04 million common shares issuable upon the exercise of warrants), which amass 5.3% of the company’s outstanding stock. Previously, the fund’s stake consisted of 2.59 million shares, as per its 13F filing for the reporting period of June 30.
Healthsouth is a company that owns and runs inpatient rehabilitative hospitals, providing post-acute healthcare services. Since the beginning of the year, the company’s shares have increased by 16.2%. For the second quarter of 2016, the company disclosed earnings per share of $0.69 and revenue of $920.7 million, with both figures beating analysts’ estimates, which had predicted $0.60 in EPS and $906.67 million in revenue. At the beginning of this month, SunTrust Banks Inc. set a price target of $54 on HealthSouth’s stock, while keeping its ‘Buy’ rating on it. The price target is 34% higher than the stock’s current price.
Investors in our database that were bullish on Healthsouth Corp (NYSE:HLS) at the end of June, aside from Highbridge Capital Management, included Arthur B Cohen and Joseph Healey’s Healthcor Management LP, which held a $56.29 million position, Jim Simons’ Renaissance Technologies, with a position valued at $14.66 million, Kris Jenner, Gordon Bussard, and Graham Mcphail’s Rock Springs Capital Management, and Chuck Royce’s Royce & Associates.
Some of the new investors in Healthsouth Corp (NYSE:HLS) during the second quarter included Principal Global Investors’ Columbus Circle Investors, which initiated a $10.36 million position, and Dmitry Balyasny’s Balyasny Asset Management, which had $3.05 million invested in the company at the end of June.
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|
|Highbridge Capital Management||0||5,066,918||0||5,066,918||5,066,918||5.3%|
Page 1 of 6 – SEC Filing
|SECURITIES AND EXCHANGE COMMISSION|
|Washington, D.C. 20549|
|Under the Securities Exchange Act of 1934|
|(Amendment No. )*|
|(Name of Issuer)|
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|Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed:|
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