Hoplite Capital Management Discloses New 6% Stake in Sunedison Inc (SUNE)

Sunedison Inc (NYSE:SUNE) has been added to the equity portfolio of John Lykouretzos‘ Hoplite Capital Management, a recent filing with the SEC showed. The fund disclosed a passive stake, which contains over 16.01 million shares, equal to nearly 6% of the common stock. According to the filing, the position has been initiated on February 26, amid a significant raise of Sunedison’s stock price.

Sunedison Inc (NYSE:SUNE)

On February 26, the stock of Sunedison Inc (NYSE:SUNE) jumped by 12%, on the back of the announcement about the debt arrangement between Sunedison Inc (NYSE:SUNE) and Deutsche Bank. The proceeds from the non-recourse debt financing arrangement will be used for the construction of 56 MW portfolio of four photovoltaic solar plants in the UK, the company said in a statement. The portfolio will be fully operational by the end of the current month, and will represent Sunedison’s entry into the UK solar market, the statement added.

Overall, since the beginning of the year, Sunedison Inc (NYSE:SUNE)’s shares have been up by over 50%, while since March 2013, the shares surged by more than a threefold. For the fourth quarter of 2013, the company reported an EPS of -$1.07, mainly because of asset impairment charges and debt extinguishment, down from -$0.05 reported in the same period of 2013. For the current fiscal year, the company said it expects to sell 500-600 MW of Solar Energy Systems, and complete 900 to 1150 MW of Solar Energy Systems, which represents a year-on-year growth of around 90%, according to another press release.

At the same time, investors seem to be fond of Sunedison Inc (NYSE:SUNE). Among the largest investors, Steven Cohen and Leon Cooperman, in their 13F filings, reported holding Sunedison. Cohen’s SAC Capital owns 12.80 million shares, worth $167.03 million, which makes holding the third largest. SAC Capital is also the second-largest investor, among the funds we track. Omega Advisors, managed by Cooperman, reported a new $105.75 million position in Sunedison, which amasses over 8.1 million shares.

John Lykouretzos is a former employee of Andreas Halvorsen’s Viking Global Investors and Lykouretzos worked at Julian Robertson’s Tiger Management Corporation. His fund, Hoplite, launched in 2003, reported an equity portfolio worth almost $3.56 billion, diversified primarily among Healthcare, Technology and Services sectors. The fund holds its largest stake in Actavis plc (NYSE:ACT), reporting a $245.75 million position with 1.46 million shares.

Disclosure: none

Recommended Reading:

Arthur Samberg Reports 6.6% Stake in Endeavour International Corporation (END)

JANA Partners Slightly Reduces Stake in URS Corp (URS); Appoints Four Directors to the Board

Steven Cohen, SAC Increase Stake in Annie’s Inc (BNNY)

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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

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!