Martin Whitman’s Third Avenue Management Declared Activist Stake in $FCEA

Martin Whitman’s Third Avenue Management declared on October 4th that the firm  owns a 13.3% activist stake in Forest City Enterprises, Inc. (FCEA). The firm now has 19.97 million Class A common shares in FCEA. According to its 13F filing, in the second quarter, Third Avenue Management was already FCEA’s biggest fund shareholder, with 19.35 million shares. So this was just a small expansion in its position. Third Avenue Management begun the purchase on August 4th. The firm made 35 transactions at around $13 when the stock realized a loss and went down a bit more later. Now FCEA is trading at $11.01.

In the second quarter, Forest City Enterprises Inc. was owned by fourteen hedge funds. As mentioned above, Third Avenue Management had a significantly larger position in the stock than the others. After Third Avenue Management, Murray Stahl’s Horizon Asset Management retained 8.69 million shares at that time, or 5.8% stake. Other hedge funds had smaller positions, including Jim Simons’ Renaissance Technologies with 631 thousand shares.

RENAISSANCE TECHNOLOGIES

Third Avenue Management is managed under Martin Whitman. He is an American investment advisor who once made some critic changes in GAAP. He is founder, Co-Chief Investment Officer, and Portfolio Manager of the Third Avenue Management. Based on the firm’s latest 13F, it had $4.9 billion portfolio value in the second quarter, and mainly invested in Financial, Basic Material, and Technology sector.

Forest City Enterprises Inc. belongs to Property Management industry and Financial sector. According to Yahoo! Finance, the company “engages in the ownership, development, management, and acquisition of commercial and residential real estate properties”. The company has Commercial Group segment, Residential Group segment, and Forest City Land Development Group segment. It was founded in 1920 and is headquartered in Cleveland, Ohio.

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

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

The 5 Most Expensive Cars To Insure in the World

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!