Second Wave of Moves from SAC Capital

In another set of filing with the Securities and Exchange Commission, Steven Cohen and his fund, SAC Capital Advisors, have revealed a number of changes to their equity portfolio. All five filings disclose significant reductions in their stakes and follow another round of changes announced earlier this week.

SAC CAPITAL ADVISORS

Cohen has decreased his fund’s exposure to Lumber Liquidators Holdings Inc (NYSE:LL) by almost a half. After SAC had reported an increase in its holding to 1.39 million shares, it has now decreased it to approximately 707,500 shares, which account for 2.6% of the company’s common stock. Lumber Liquidators is a retailer of hardwood flooring and accessories with a market cap of $2.64 billion.

Another stock, Cohen has decreased exposure to, is Tile Shop Hldgs, Inc. (NASDAQ:TTS), a retailer of stone tiles, setting and maintenance materials in the United States. SAC Capital has reduced its holding from 2.95 million to 1.6 million shares, according to a recent filing with the SEC. The current position accounts for 3.1% of the total number of shares outstanding.

Stemline Therapeutics Inc (NASDAQ:STML) is also part of the spring-cleaning program of Cohen. SAC Capital has reported a decrease in its stake to 353,000 shares or 2.7% of the company’s common stock. Stemline Therapeutics is a biopharmaceutical company, which focuses on the discovery and development of therapeutics that target cancer cells and tumor bulk. The company has a market cap of $252 million and does not pay a dividend.

SAC Capital has also reduced its investment in E-House (China) Holdings Limited (ADR) (NYSE:EJ). According to a recently amended filing, Cohen has decreased his fund’s holding from 7.55 million to 3.01 million shares, which account for 2.2% of the total number of shares outstanding. E-House (China) Holdings Limited is a real estate services company that operates in the People’s Republic of China.

Cohen has also dumped most of SAC Capital’s holding of Intercept Pharmaceuticals Inc (NASDAQ:ICPT), leaving it with 6,123 shares which account for less than 0.1% of the total number of shares. Intercept Pharmaceuticals focuses on the development of treatments for chronic liver diseases. The company has a market cap of $5.97 billion and does not pay a dividend. The stock price of Intercept quadrupled earlier this year, amid positive results regarding the company’s liver-disease drug.

Disclosure: none.

Recommended reading:

Recent Changes in SAC Capital Advisors’ Equity Portfolio

Billionaire Steven Cohen Initiates Position in Midstates Petroleum Company Inc (MPO); Boosts Stake in Zynga Inc (ZNGA)

Steven Cohen Ups His Bets on NQ Mobile Inc (ADR) (NQ)

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