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

Silicon Motion Technology Corp (ADR) (NASDAQ:SIMO) on the other hand is trading quite near its 52 week high, yet the investor might have been excited about the addition of Mr. Gihyun Bae as Senior Vice President for Product Planning and Strategic Business Development. This latest incorporation could have a positive effect on the company, which designs, developes, and markets semiconductor solutions for the mobile industry. The Taiwan-based firm is expected to perform well throughout 2015, as demand for its mobile storage products continues to increase. The stock’s optimistic outlook was confirmed, when Silicon Motion Technology reported a 78% increase in profit last quarter, with sales growing by 52%.

Point72 Asset Management’s large increase in its exposure to RCS Capital Corp (NYSE:RCAP) is quite harder to explain, especially since a lawsuit was recently filed against the company and its Board of Directors. Nevertheless, Steve Cohen must have his reasons to make such a bold investment in the firm, which acts primarily as a wholesale broker-dealer, and investment banker. In addition to its operations in the capital markets business, the company offers strategic advisory services. Despite the uncertainties surrounding this stock’s future, Citigroup Inc recently upgraded it from a “neutral” rating to a “buy” rating, suggesting RCS Capital might surprise shareholders positively in the near future.

Apart from Steve Cohen’s fund, other institutional shareholders hold significant positions in the stocks mentioned. Ken Griffin’s Citadel Investment Group has a stake in Jones Energy Inc (NYSE:JONE) amounting to almost 348,400 shares, despite reducing its holdings by 4% last quarter. Silicon Motion Technology Corp (ADR) (NASDAQ:SIMO) has the backing of Alex Sacerdote’s Whale Rock Capital Management, with a position of 745,100 shares, amounting to 2.6% of the firm’s equity portfolio. Finally, Brian Jackelow’s Sab Capital Management disclosed a stake of more than 3 million shares of RCS Capital Corp (NYSE:RCAP) stock last quarter, making it one of the company’s largest institutional shareholders.

Disclosure: Pablo Erbar holds no position in any stocks or funds mentioned.