Israel Englander and Millennium Management Further Decrease Exposure To Liberator Medical Holdings Inc (LBMH)

Israel Englander and Millennium Management have further decreased their stake in Liberator Medical Holdings Inc (NYSEMKT:LBMH) and have sold 175,000 shares in one transaction at a price of $4.0457, according to a recent Form 4 filing with the Securities and Exchange Commission. As a result, Millennium Management is left holding 6.33 million shares. This move comes after Englander had reduced the holding by a little over 277,000 shares in January, 2014.

MILLENNIUM MANAGEMENT

Kevin Kotler, the manager of Broadfin Capital, is bullish on Liberator Medical Holdings Inc (NYSEMKT:LBMH) and has increased his fund’s stake by 41% during the first quarter of 2014 to 3.05 million shares. Cliff Asness shares Kotler’s optimism, having initiate a new position during the same time and amassing 129,000 shares. Chuck Royce, on the other hand, has reduced his fund’s holding of the stock to approximately 368,800 shares.

Liberator Medical Holdings Inc (NYSEMKT:LBMH) is a provider of medical supplies and pays an annual dividend of $0.15 per share, which accounts for a yield of 3.70%. So far this year, the stock has been oscillating around the $4.2 level and is currently traded at $3.93 per share, which gives the company a market cap of $207 million. Shares are changing hands at a trailing Price to Earnings (P/E) ratio of 25.49, which is a bit lower than the industry average of 29.50. For the first quarter of this year, Liberator Medical Holdings announced $17.6 million in revenues and earnings of $0.03 per share.

Israel Englander’s top stock pick is PPL Corporation (NYSE:PPL) with Millennium holding more than 13 million shares, up 43% during the first quarter of the year. Another massive bet is Devon Energy Corp (NYSE:DVN) – Englander has increased his fund’s holding of this stock by 377% to a little over 4 million shares. He has also increased Millennium’s stake in Edison International (NYSE:EIX) by 634% during the previous quarter, taking it to 3.52 million shares.

Disclosure: none.

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