Soros Fund Management Disposes $5.7 Mln of Digital River, Inc. (DRIV) Bonds

George Soros‘ fund, Soros Fund Management, has revealed, in a new filing with the SEC, disposing $5.683 million worth of bonds of Digital River, Inc. (NASDAQ:DRIV). The securities represent 1.25% Convertible Bonds due 2024 and can are equal to an aggregate of 128,974 shares of the company’s stock, at the price of $44.06 per share.

SOROS FUND MANAGEMENT

In addition, Soros also holds 2.0% Convertible Bonds that are equal to around 270.86 million shares of Digital River, Inc. (NASDAQ:DRIV)’s common stock, and have a value of $269.52 million, as disclosed in Soros Fund Management’s latest 13F filing.

Digital River, Inc. (NASDAQ:DRIV) is a cloud-commerce and marketing solutions company that provides services to companies from several industries such as software, consumer electronics, computer and video games, and others. At the end of last year, Zacks downgraded the stock of the company to Neutral from Outperform, after upgrading the rating earlier in November. Zacks has a target price for the stock set at $21.50.

In November, Digital River managed to extend Microsoft Operations Digital Distribution Agreement with Microsoft Corporation (NASDAQ:MSFT) signed in 2006 to March 2015, from March 2014.

Aside from George Soros, several “hedgies” have been holding shares of Digital River, Inc. (NASDAQ:DRIV), according to the latest round of 13F filings. Jim Simons’ Renaissance Technologies reported a long stake in the company, which amasses 826,000 shares, with a reported value of $14.76 million. Cliff Asness’ Aqr Capital Management holds a less significant position, which contains 161,300 shares, worth $2.88 million.

Earlier in November, Soros Fund Management entered into Arno Therapeutics Inc. (OTCMKTS:ARNID), a micro-cap biopharmaceutical company. Soros acquired around 2.04 million shares of the company, the passive stake representing almost 10% of Arno’s common stock.

Disclosure: none

Recommended Reading:

Hedge Fund News: Steven Cohen, GLG Partners & Marshall Wace Asset Management

Ameresco Inc (AMRC), Alamo Group, Inc. (ALG) & Others Among Chuck Royce’s Latest Moves

Marathon Capital Management Slices Stake in Adept Technology Inc (ADEP)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Biggest Airports in the World

The 5 Most Gang Infested Cities In America

The 34 Smartest Countries in the World

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!