Kerr Neilson, Platinum Asset Management Disclose New Position In Qunar Cayman Islands Ltd (QUNR)

Kerr Neilson, the founder and manager of Platinum Asset Management, is bullish on Qunar Cayman Islands Ltd (NASDAQ:QUNR). According to a recent filing with the Securities and Exchange Commission, the billionaire investor has initiated a new position for his fund through the acquisition of 1.57 million shares, which represent 12.3% of the company’s common stock.

Qunar Cayman Islands

Qunar Cayman Islands Ltd (NASDAQ:QUNR) operates an online travel platform for clients in the People’s Republic of China. The company has a market cap of $3.28 billion and does not pay a dividend. The company reported revenues of $41.5 million, a 74.2% year-over-year increase, and a loss of $0.18 per share for the fourth quarter of 2013. Analysts estimate revenues of $50.66 million and a loss of $0.13 per share for the first quarter of this year.

According to a recent report from Bloomberg, Qunar is engaged in merger talks with Ctrip.com International, Ltd. (ADR)(NASDAQ:CTRP), although talks are at an initial stage and there is no certainty of a deal. Both parties are exploring a wider range of options, from a partnership to a full-blown merger.

Qunar Cayman Islands Ltd (NASDAQ:QUNR) is 55% owned by Baidu Inc (ADR) (NASDAQ:BIDU) who has acquired the majority stake in 2011 for approximately $306 million. The company went public in November 2013, in an IPO priced at $15.00 with 11.1 million shares being offered.

During the fourth quarter of 2013, Neilson has adjusted most of his fund’s top equity position, one of them being Baidu Inc (ADR)(NASDAQ:BIDU). Platinum has decreased its holding of the stock by 23% to 1.96 million shares valued at $348 million. Neilson has increased his fund’s stake in Intel Corporation (NASDAQ:INTC), taking it to a little over 13 million shares reportedly worth $338 million. He has also upped Platinum’s stake in Carnival Corporation (NYSE:CCL) by 19% to 6.11 million shares valued at $245 million.

Disclosure: none.

Recommended reading:

MHR Fund Management Ups Its Stake In Navistar International Corp (NAV)

Barry Rosenstein, Jana Partners Continue Reducing Stake In Outerwall Inc (OUTR)

Gates Capital Management Raises Stake In Richardson Electronics Ltd. (RELL)

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
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

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!