Park West Asset Management Boosts Passive Stake In Move Inc. (MOVE)

In its latest amended filing, Peter S. Park’s Park West Asset Management has disclosed upping its passive stake in Move Inc. (NASDAQ:MOVE). According to the filing, the fund owns around 1.99 million shares of the company, up from 1.25 million shares held earlier. The new position amasses 5.1% of common stock of the company.

Move Inc. (NASDAQ:MOVE)

California-based Move Inc. (NASDAQ:MOVE) is engaged in providing information related to home buying, selling, financing and renting. It has a market cap of $482.5 million. On March 5, Move Inc. (NASDAQ:MOVE) announced that Errol Samuelson, its Chief Strategy Officer, resigned from its post, effective immediately.

For fourth-quarter 2013, the company’s revenue increased by 7% on the year, to $56.5 million from $52.7 million in the fourth quarter of 2012. For twelve months ended December 31, 2013, it reported revenue of $227.03 million, up from $199.2 million in 2012. Move Inc. (NASDAQ:MOVE) expects revenue of about $58 million for the quarter ending March 31, 2014 and $254–$258 million for the full 2014.

The largest shareholders of (NASDAQ:MOVE) include Spencer M. Waxman’s Shannon River Fund Management, which disclosed holding 1.38 million shares, worth just over $22.0 million, at the end of 2013. Another investor, SAC Subsidiary Sigma Capital Management, reported ownership of a more than $20 million stake, which contains 1.38 million shares.

California-based Park West Asset holds most of its equity holdings in the services sectors. According to the fund’s latest 13F, Outerwall Inc (NASDAQ:OUTR) was largest holding, in which the fund owned a $59.5 million stake. In February 2014, the fund increased its stake in Outerwall Inc (NASDAQ:OUTR) to 1.5 million shares from 884,608 shares held earlier. The second most valuable holding was Macquarie Infrastructure Company LLC (NYSE:MIC), in which the fund disclosed holding 1.09 million share, with a reported value of $59.4 million.

Recently, Park West Asset reported a new passive stake in World Wrestling Entertainment Inc. (NYSE:WWE).

Disclosure: none

Recommended Reading:

Lansdowne Partners Ups Position in London-based IP Group Plc (IPO)

Clinton Group Inches Down Stake in NutriSystem Inc. (NTRI); Advises Company To Buy Back Stock

Hedge Fund Cliffhanger at Cliffs Natural Resources Inc (CLF)

 

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 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

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!