Solus Alternative Asset Management, YRC Worldwide: Christopher Pucillo
and his hedge fund, Solus Alternative Asset Management, just reported selling around 137,300 shares of its holdings in YRC Worldwide, Inc. (NASDAQ:YRCW
). The shares have been sold in two deals at an average price of around $12 apiece. Following the sale, Solus holds some 602,600 shares of YRC stock.
The stock of YRC Worldwide has returned over 70% since the beginning of the year. In the second quarter, the company posted almost flat results, with revenue worth $1.2 billion, and operating income of $14.3 million.
Avenue Capital, managed by Marc Lasry
, held one of the largest stakes in YRC Worldwide in Q2, which contained slightly less than 25 million shares, worth around $25 million.
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