Mark D. Lerner’s Chesapeake Partners Management Bought More $CLWR

Mark D. Lerner’s Chesapeake Partners Management filed on December 6th that firm has boosted its passive stake in Clearwire Corp/DE (CLWR) to 5.4%. According to the filing, Chesapeake Partners Management passed the 5% ownership threshold on October 13th, and continued purchasing the shares until December 2nd. Now Chesapeake Partners Management beneficially owns 13.84 million shares in CLWR. Chesapeake Partners Management did not make large adjustment to its CLWR before October. The firm had 3.93 million shares in CLWR at the end of June, and 4.45 million shares by the end of September. On November 18th, CLWR dropped 21% as the company was thinking about skipping a $237M interest payment due December. So Chesapeake Partners Management must have seen the stock’s sudden decline as a buying signal. CLWR has lost 56% so far in 2011, and is priced at $2.28.

Clearwire Corporation

There are some other hedge funds that were also invested in CLWR in the third quarter. Larry Robbins’ Glenview Capital increased its position by 30% and reported 15.23 million in its third quarter 13F. Anand Parekh’s Alyeska Investment Group increased his position by 22% and had 10 million shares at the end of September. John Brennan’s Sirios Capital Management decreased its position by 48% to 4.38 million shares in the stock.

According to Businessweek, Chesapeake Partners Management Co., Inc. is a privately owned hedge fund. The firm invests in the public equity and alternative investment markets of the United States. Chesapeake Partners Management Co., Inc. was founded in 1991 and is based in Baltimore, Maryland.

Per Google Finance, Clearwire Corporation “is a provider of fourth generation (4G) wireless broadband services. Clearwire builds and operates next generation mobile broadband networks that provide high-speed mobile Internet and residential access services, as well as residential voice services. Its 4G mobile broadband network provides a connection anywhere within its coverage area. In its 4G mobile broadband markets, Clearwire offer its services through retail channels and through its wholesale partners. As of December 31, 2010, the Company conducted its operations through its domestic and international subsidiaries. Clearwire Communications has one primary domestic operating subsidiary Clear Wireless LLC, which operates all of its 4G mobile markets. Internationally, its operations are conducted through Clearwire International, LLC, an indirect, wholly owned subsidiary of Clearwire Communications, which also indirectly holds investments in Europe and Mexico.”

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

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

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!