Silver Point Capital Sells Stake in Cooper-Standard Holdings Inc. (CPS)

Silver Point Capital, managed by Edward A. Mule, has reduced its stake in Cooper-Standard Holdings Inc. (NYSE:CPS), a new filing with the U.S. Securities and Exchange Commission showed. The fund has sold 4700 shares of the company’s common stock in two transactions for an average price of around $67.88 for an aggregate price of about $319,038.Following the sale, Silver Point still owns 4.76 million shares, up from 4.72 million shares the fund disclosed in its latest 13F filing.

CooperStandard

Michigan-based Cooper-Standard Holdings Inc. (NYSE:CPS) is a global supplier of systems and components for the automotive industry. The company increased its first-quarter 2014 revenue by 12% to $837.6 million, compared to $747.6 million for the first quarter of 2013. It posted net income of $19.7 million, or $1.10 per share on a fully diluted basis, in the first quarter, compared to $20.7 million, or $0.86 per share, in the same period in 2013.

On Monday, Cooper-Standard Holdings Inc. (NYSE: CPS) said that it agreed to sell its thermal and emissions product line to Halla Visteon Climate Control Corp. The company believes that the sale will it to focus on the product lines where it holds a leading market position and can gain the greatest competitive advantage.

Cooper-Standard Holdings Inc. (NYSE:CPS) has a market cap of $1.12 billion. Shares of the company on Tuesday traded down by 0.65%, hitting $65.73. It has a 52 week high of $71.11 and a 52 week low of $45.50.

Connecticut-based Silver Point Capital is a distressed debt and credit-focused private investment firm. It was founded in 2002 by Edward A. Mule and Robert J. O’Shea. The value of the fund’s equity portfolio was $1.15 billion as of the end of the first quarter of 2014. The fund disclosed its largest stake, in term of value, in American International Group Inc. (NYSE:AIG), holding 7.20 million shares, with a reported value of $360.12 million as of the end of March 2014.

Disclosure: none

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
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 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

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

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!