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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

On the Move: The 10 Fastest Growing Businesses in 2015

Fast Money: The 10 Highest Paying Fast Food Restaurants

Mixing It Up: The 14 Best Music Mashups of 2014

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

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!