Pitney Bowes Inc. (PBI), Graphic Packaging Holding Company (GPK), Theravance Inc (THRX): Iridian Asset Management’s Latest Moves

As Graphic Packaging Holding Company (NYSE:GPK) continues to perform well and offer a bright outlook, it comes as no surprise that the investment firm decided to increase its exposure. In fact, several institutional investors are bullish regarding this stock, such as John Lykouretzos’ Hoplite Capital Management, which owns 11.2 million shares. Kevin Michael Ulrich and Anthony Davis’ Anchorage Advisors also seems quite optimistic regarding the company’s future performance.  Not only did the investment firm disclose a position amounting to 9.4 million shares at the end of the third quarter, but also held the stock amongst its top 10 picks for that period.

Finally, Iridian Asset Management also revealed an increase in its stake in Theravance Inc (NASDAQ:THRX), which now amounts to 9.4% of the company’s outstanding stock. In addition to the Westport, Connecticut-based investment firm, a numerous financial institutions boast this stock amongst their holdings. According to our records, Seth Klarman’s Baupost Group holds Theravance amongst its top 5 picks, with a position amounting to 19.8 million shares. This major hedge has been betting on the company for some time now, as revealed by its 13F filing for the fourth quarter of 2013. In addition to managing the royalty revenues it receives, Theravance Inc (NASDAQ:THRX) operates in the biotechnology industry and specializes in the development of respiratory products. Considering the company’s share price dropped around 58% in 2014, Iridian Asset Management might have considered this as a good opportunity to invest in an undervalued stock.

Disclosure: none.