Latest Hedge Fund Moves: Carl Icahn, Ken Griffin, Steven Cohen and Others

Hedge fund managers have been very active this week, with several hedge fund gurus revealing important moves recently. Carl Icahn, Ken GriffinSteven Cohen and others have reported the newest changes to their equity portfolio.  Here is a summary of the biggest moves disclosed in the last couple of days.

Carl Icahn has continued adding to his investment in Nuance Communications Inc. (NASDAQ:NUAN). His fund, Icahn Capital LP, has revealed an increase in its stake from 52.4 million to 58.9 million shares, which account for 18.72% of the company’s common stock. Icahn has opened this position during the first quarter of 2013 and has been increasing it throughout 2013. Nuance offers voice and language software products worldwide. For the year ended September 30, 2013, the company posted revenues of $753 million and a loss per share of $0.37.

Nuance Communications Inc. (Nasdaq:NUAN)

Ken Griffin and Citadel Investment Group are optimistic about Finisar Corporation (NASDAQ:FNSR). In a recent filing, Citadel revealed the addition of 2.3 million shares, taking its stake to approximately 5 million shares, or 5.2% of the company’s common stock. Finisar stock has surged 26% so far in 2013 and has a trailing Price to Earnings (P/E) ratio of 73.53. The company is to release its financial results for the latest quarter today, December 5th, after market hours.

Steven Cohen and SAC Capital have boosted their stake in The Fresh Market Inc (NASDAQ:TFM). Cohen and SAC now hold approximately 2.4 million shares, valued at $96.7 million. Their holding accounts for 5.1% of the company’s common stock. The Fresh Market Inc is a grocery retailer operating in the United States. The company has a market cap of $1.97 billion and the stock has a trailing P/E ratio of 28.33. For the three months ended July 28, 2013, The Fresh Market posted sales of $354 million and Earnings Per Share (EPS) of $0.32.

The Fresh Market Inc (NASDAQ:TFM)

Mario Gabelli added to his fund’s position in Nathan’s Famous, Inc. (NASDAQ:NATH). GAMCO Investors has recently reported holding 592,600 shares, or 13.26% of the company’s shares outstanding. So far in 2013, Nathan’s Famous stock has advanced 47% and is trading at a trailing P/E ratio of 26.44. During the previous quarter, the company registered revenues of $23.6 million and earnings per diluted share of $0.57.

Last but not least is T2 Partners run by Whitney Tilson. According to a recent filing, Tilson has closed his funds position in dELiA*s, Inc. (NASDAQ:DLIA). An apparel retail company, dELiA*s has a market cap of $49 million and does not pay a dividend. Third quarter financial report revealed the company registered revenues of $33 million, down 29% from Q3 of 2013, and a loss per share of $0.40.

Disclosure: none

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