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

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 Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

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!