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Jones Energy Inc (JONE), Silicon Motion Technology Corp (SIMO), and RCS Capital Corp (RCAP): Point72 Asset Management Increases Stakes

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Steve Cohen’s Point72 Asset Management has increased its exposure to Jones Energy Inc (NYSE:JONE) by 12.8% and now holds 724,600 Class A Common Shares. The fund’s stake is passive and with the newly acquired shares represents 5.7% of the company’s outstanding stock. Yet this was not the only transaction made by the investment firm at the beginning of 2015. Point72 Asset Management also increased its stake in Silicon Motion Technology Corp (ADR) (NASDAQ:SIMO) by 251,700 American Depositary Shares, each representing four ordinary shares. Following its latest 13G filing, Steve Cohen’s firm now holds more than 1.8 million shares, which amount to 5.5% of the company’s outstanding stock. In addition, the fund drastically increased its exposure to RCS Capital Corp (NYSE:RCAP), purchasing around 3.85 million shares of Class A Common Stock and thus bringing its holding to more than 4.4 million shares.

Steven Cohen founded Point72 Asset Management as a privately owned family office after its S.A.C. Capital Advisors fund was shut down. This group of hedge funds favors a long/short equity method and makes considerable quantitative and macro investments. The Connecticut-based firm boasts a diversified equity portfolio valued at around $13.28 billion, after losing around $2.3 billion in market value over the past two years. Point72 Asset Management slightly favors energy and consumer discretionary stocks, with Tyson Foods, Inc. (NYSE:TSN), Canadian Natural Resource Ltd (USA) (NYSE:CNQ), and Baker Hughes Incorporated (NYSE:BHI) constituting its top picks.


In addition to producing, Jones Energy Inc (NYSE:JONE)’s activities consist of acquiring, exploring, and developing oil and natural gas properties in the United States. Up until the end of 2013, the company boasted estimated proved reserves amounting to the equivalent of 89 million barrels of oil. This stock has probably been on Steve Cohen’s radar for quite some time now, especially since Jones Energy reported an increase in sales, production, and net income for the third quarter. Considering share prices are low at the moment, it is not surprising that Point72 Asset Management decided to increase its stake in the company. Just a few weeks ago, the fund had entered a new position in Jones Energy, which you can read more about here.

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