Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

SeaWorld Entertainment Inc (SEAS): Omega Advisors Sold Out Its Stake According to Sources

SeaWorld Entertainment Inc (NYSE:SEAS) is no longer in the equity portfolio of billionaire investor Leon Cooperman’s Omega Advisors, sources told CNBC’s Scott Wapner. Omega Advisors had a $30.8 million stake in SeaWorld Entertainment Inc (NYSE:SEAS), which contained around 1.09 million shares held as of the end of June, according to the latest 13F filing.

Leon Cooperman Omega Advisors

Although shares of SeaWorld Entertainment Inc (NYSE:SEAS) appear to be unperturbed by the Omega Advisors’ move, the stock is down 36% this year and 45% over the past one year. The challenges for the stock have mainly been in its financial performance, which the management recently admitted as being hammered by poor attendance at their theme parks.  As concerns the exit of Cooperman’s Omega Advisors from the troubled SeaWorld Entertainment Inc (NYSE:SEAS), Wapner warned investors to be careful about the information they read on 13F filings. He said his sources told him that Omega Advisors no longer has a position in SeaWorld.

“[…] Be careful what you read in the 13F. We just said Omega, Leon Cooperman’s hedge fund, had taken a position in SeaWorld. Well, I can tell you that according to my sources, Omega no longer owns SeaWorld. That they are completely out of that stock, according to my sources,” said Wapner.

However, he went on to say that people need to be careful what they read 13F filings. Wapner also pointed out that SeaWorld Entertainment Inc (NYSE:SEAS) has been a troubled stock, being all over the news this week thanks to its disappointing earnings.

“[…] There were at least four downgrades on Wall Street as a result of the earnings. It is that continued story about that Blackfish documentary, which seems to be having a lasting impact on attendance, which clearly has been hurting SeaWorld,” he observed.

Disclosure: none

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!