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

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

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

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!