SAC Capital Discloses New Stake in Textura Corp (TXTR)

SAC Capital, a fund managed by Steven Cohen, has disclosed, in a new filing with the SEC, ownership of 1.25 million shares of Textura Corp (NYSE:TXTR). The stake amasses 5.0% of the company’s common stock and represents a new position in the fund’s equity portfolio. At the current stock price of the company, the value of the holding amounts to $37.84 million.

Through the recent acquisition of Textura Corp (NYSE:TXTR) shares, SAC Capital joined Cupps Capital Management, led by Drew Cupps, and Charles Clough’s Clough Capital Partners, which also disclosed ownership of shares of the company. Cupps held 540,900 shares, and Clough owned 256,900 shares, as disclosed in the previous round of 13F filings.

SAC CAPITAL ADVISORS

Textura Corp (NYSE:TXTR) is engaged in on-demand business software in the commercial construction industry. Its stock gained over 40% during the past year. Last month, the company completed the acquisition of LATISTA™, a prodivder of mobile solutions for construction collaboration.

A couple of weeks ago, the stock of Textura Corp (NYSE:TXTR) dropped significantly, losing over 20% during December 25 – 27 period, amid a report that claimed that the IPO of the company involved some fraudulent moves. Citron Research stated that the company could become insolvent if it didn’t file for the IPO and that the Securities and Exchange Commission was mislead regarding the business’ situation. Later, Textura Corp (NYSE:TXTR) denied all these allegations. Before the report, the company’s stock managed to gain over 80% following its IPO in June 2013.

The analysts on average consider Textura Corp (NYSE:TXTR)’s stock being a “Buy” and the target price is at $47 per share, significantly above the current price.

Aside Textura, SAC Capital has reported several other moves in the past couple of days. The fund has surged its stake in PDC Energy Inc (NASDAQ:PDCE)reporting ownership of 1.81 million shares, equal to 5.1% of stock, versus just 21,500 shares disclosed earlier.

Diclosure: none

Recommended Reading:

Altimeter Capital Management Further Raises Stake in NQ Mobile Inc (NQ)

Lone Pine Capital Raised its Stake in Wyndham Worldwide Corporation (WYN)

Oaktree Capital Management Boosts Stake in EXCO Resources Inc (XCO) to 16.6%

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!