Leucadia National Boosts Stake in Harbinger Group Inc (HRG) to 20%

Leucadia National fund, managed by Ian Cumming and Joseph Steinberg has reported upping its position in Phil Falcone‘s Harbinger Group Inc (NYSE:HRG) to 41.63 million shares, versus 18.60 million shares held earlier. Following the increase, Leucadia holds over 20% of Harbinger Group’s common stock.

Harbinger Group Inc (NYSE:HRG)

Harbinger Group Inc (NYSE:HRG) is a holding company that conducts its oprtations through several subsidiaries, among which is Spectrum Brands, engaged in distribution of branded consumer products, such as batteries, personal care products, small household appliances, pet supplies. The company also owns several indirect subsidiearies engaged in the insurance business and asset-based loans. For the second quarter of its fiscal year, ended March 31, the company posted a revenue of $1.3 billion, down by 5% on the year. The company also reported a net loss of $87.6 million, or $0.63 per share, expanding it from a loss of $45.5 million, or $0.33 per share posted in the same period of last year. The stock of Harbinger Group edged up by 7% since the beginning of the year.

At the end of last month, Harbinger Group Inc (NYSE:HRG) has proposed to acquire Central Garden & Pet Co (NASDAQ:CENT). The buyer offered $10.00 per share of each class of stock, which represented a 27.5% premium at the time of the offer. At the same time, Harbinger offered to acquire Central Garden & Pet Co (NASDAQ:CENT)’s Pet Segment for $750 million in cash as an alternative.

Harbinger Group Inc (NYSE:HRG) has last reported an equity portfolio worth over $3.0 billion. The largest stake is represented by the aforementioned Spectrum Brands Holdings, Inc. (NYSE:SPB), of which Harbinger owns 30.89 million shares, worth $2.46 billion. The fund also owns 39.40 million of its own stock, the position being worth $481.91 million.

Omega Advisors, managed by Leon Cooperman, is another investor bullish on Harbinger Group Inc (NYSE:HRG). It reported holding 12.34 million shares in its latest 13F, almost doubling the position during the first quarter. Jason Karp’s Tourbillon Capital Partners has also boosted its stake by 130% to 1.61 million shares.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!