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

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!