Insider Trading: WL Ross & Co Bought Shares In $XCO

Wilbur Ross’s Invesco Private Capital (WL Ross & Co) recently reported its insider purchases in Exco Resources Inc. (XCO). The firm bought 363 thousand shares in XCO at between $9.66 and $9.84 on December 21st. WL Ross & Co revealed 27.63 million shares in the stock at the end of September, and 26.78 million shares or 12.5% activist stake on August 31st. XCO is now trading at $9.81. The stock has lost about 49% so far in 2011.

INVESCO PRIVATE CAPITAL Wilbur Ross

There are several other hedge funds that invested in XCO in the third quarter. Howard Marks’ Oaktree Capital Management took the most shares among hedge funds, with 34.78 million shares. Anand Parekh’s Alyeska Investment Group had 7.21 million shares, while Phil Falcone’s Harbinger Capital had 2.70 million shares in the stock at the end of September.

Wilbur Ross is known for restructuring failed companies. He specializes in leveraged buyouts and distressed businesses. He was listed as one of the world’s billionaires with a net personal wealth of $1.9 billion in 2011. His Invesco Private Capital(WL Ross & Co) has a portfolio value of $1.24 billion, with most of the capital invested in Financial, Basic Materials, and other sectors.

According to Google Finance, Exco Resources Inc. is an independent oil and natural gas company. It engages in the exploration, exploitation, development and production of onshore North American oil and natural gas properties. Additionally, the company owns 50% interest in a midstream joint ventures located in East Texas, North Louisiana and Appalachia, respectively. The company had reserves of about 1.5 trillion cubic feet equivalent, and operated 7,276 wells as of December 31st, 2010. The company was founded in 1955 and is headquartered in Dallas, Texas.

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