MHR Fund Management Initiates Stake in Titan International Inc (TWI)

Mark Rachesky’s MHR Fund Management has disclosed, in a new SEC filing, adding Titan International Inc (NYSE:TWI). The fund reported holds a total of 5.84 million shares, which represent 10.9% of the common stock. Out of the total position, the MHR owns 2.6 million shares of common stock, and the rest is being held under “Call” option. MHR believes that the shares are undervalued and intend to engage with the management in discussions regarding the business and operations of Titan. The fund is yet to detail the changes it expects from the management.

Buy these 3 Stocks For a Lot Less than What Insiders Paid

Titan International Inc (NYSE:TWI) manufacturers wheels and tires for earth moving/ construction, agricultural and consumer segments. Among the hedge funds tracked by us, Gregg J. Powers’ Private Capital Management held 1.05 million shares worth $15.36 million at the end of the third quarter. It was followed by Jay Petschek and Steven Major’s Corsair Capital Management with 738,000 shares, valued at $10.81 million and Peter Muller’s Pdt Partners with 129,000 shares worth $1.89 million.

Mark Rachesky is a well known activist investors and has honed his skills while working under Carl Icahn. He manages $3.70 billion in the equity portfolio invested by his hedge fund MHR Fund Management. The fund focuses on Services, Technology, Consumer Goods and Basic Materials sectors. The hedge fund  takes a highly differentiated, control-focused, private equity approach to investing in distressed and undervalued middle-market companies. The investment worth $1.80 billion in 51.26 million shares of Lions Gate Entertainment Corp (NYSE:LGF) represents its largest stake in the equity portfolio. It is followed by a $550.63 million position in Loral Space & Communications Inc (NASDAQ:LORL), which contains 8.13 million shares, and 13.07 million shares, worth $476.90 million, of Navistar International Corp (NYSE:NAV).

Disclosure: none

Recommended Reading:

Jeff Smith Trims Holdings in Integrated Device Technology Inc (IDTI) and Carbon Corporation (CCC)

Second Curve Capital Reveals Moves Into Regional Management Corp (RM), Seacoast Banking Corporation of Florida (SBCF) & Others

Luxor Capital Group Reveals New 6.1% Stake in AMC Entertainment Holdings Inc (AMC)

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 Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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!