Soros Fund Management Disposes More Digital River, Inc. (DRIV) Bonds

George Soros’ Soros Fund Management LLC has disclosed holding 2.5 million shares of Digital River, Inc. (NASDAQ:DRIV). The stake amounts to 6.97% of the company’s common stock and consists of some 16,000 shares and around 2.46 million shares that may be issued upon the conversion of 2.00% convertible bonds due November 1, 2030.

George Soros

Earlier In January, the fund sold $5.7 million worth of bonds of Digital River, Inc., represented by 1.25% Convertible Bonds due 2024. Moreover, in its latest 13F, Soros Fund Management, reported holding around $270 million worth of 2.00% Bonds due 2030.

Digital River, Inc. (NASDAQ:DRIV) is a $597.5 million, cloud-commerce solutions’ provider based in Minnesota. For the fourth quarter of 2013, the company recorded an EPS of $0.22, beating the consensus estimate of $0.19. For the current quarter, the company upped its EPS estimate to $0.08 – $0.12, this compares to Thomson Reuters guidance of $0.09. For the full year 2014, the company expects earnings between $0.41 per share and $0.51 per share.

Another significant stockholder of Digital River, Inc. is billionaire Jim Simons’ Renaissance Technologies, which held approximately 533,500 shares at the end of the fourth quarter of 2013.

Soros Fund Management was launched in 1969 in New York and invests in capital-intensive start-ups, buyouts, and growth equity transactions. The fund has a diversified portfolio; however it more inclined towards Technology, BasicMaterials and Services sectors. George Soros is ranked as the 35th richest person in the world. He became known as “the Man Who Broke the Bank of England” after he made $1 billion in 1992. He graduated from the London School of Economics in 1952.

Last month, Soros Fund reported new massive position in Polycom Inc (NASDAQ:PLCM). The fund acquired 9.4 million shares worth $110.2 million and the stake amasses 6.95% of the company’s common stock. In January, Soros disposed approximately 985,700 shares of Exar Corporation (NYSE:EXAR) and currently holds 4.96 million shares of the company.

According to the fund’s latest 13F, Soros Capital Management is the largest shareholder in Teva Pharmaceutical Industries Ltd (NYSE:TEVA), with a stake valued in excess of $373.4 million. It is followed by Herbalife Ltd (NASDAQ:HLF), of which it holds 3.2 million shares valued at $252.3 million, and Fedex Corp (NASDAQ:FDX), in which it owns 1.6 million shares worth more than $232.8 million.

Disclosure:none

Recommended Reading:

Tiger Global Ups Its Stake in dELiA*s, Inc. (DLIA)

James Dinan Discusses American Airlines Group Inc (AAL), The Men’s Wearhouse, Inc. (MW) & Hertz Global Holdings, Inc. (HTZ)

Broadfin Capital Initiates Stake in Pernix Therapeutics (PTX)

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

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

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!