Steven Cohen, SAC Reveal Boosting Their Holding in Move Inc. (MOVE)

Steven Cohen's SAC Capital has revealed, in a new filing with the Securities and Exchange Commission, significantly surging its holding in Move Inc. (NASDAQ:MOVE). SAC Currently owns over 1.98 million shares of the company, up from just 1,939 shares disclosed as holding at the end of September in the latest 13F. SAC's stake is passive by nature and amasses 5.1% of the company's outstanding common stock. The stock of Move closed 4.1% down on Monday, and the value of Cohen's position currently amounts to $30.2 million.

SAC CAPITAL ADVISORS

Move Inc. (NASDAQ:MOVE) showed a 19% increase in its revenues during the third quarter of the year, which totaled $58.8 million. The net income of the company, however dropped to $138,000 during the period, from nearly $1.8 billion posted a year ago. For the full year, Move Inc. (NASDAQ:MOVE) forecasts $227 million worth of revenues, and expects an adjusted EBITDA margin of 12-13%, the company said in a statement. Other investors in Move Inc. (NASDAQ:MOVE), aside from SAC, include Michael Doheny's Freshford Capital Management, which disclosed a $25 million stake, which amasses around 1.5 million shares in its latest 13F. It is followed by Jim Simons' Renaissance Technologies, which owns about 1.0 million shares, worth $17.1 million. Nierenberg Investment Management, run by David Nierenberg, reported ownership of some 910,400 shares, with a value of $15.4 million. Amid other recent moves disclosed by Mr. Cohen and SAC, in addition to Move Inc. (NASDAQ:MOVE), we can mention The Fresh Market Inc (NASDAQ:TFM), in which the fund has been also bullish, recently upping its holding to a total of 778,950 shares, from 6,300 shares owned at the end of September. The holding currently amasses 5.1% of the company's stock. The "hedgie" also edged up its position in Clearwater Paper Corp (NYSE:CLW) to 1.84 million shares, equal to 8.7% of stock, from 1.79 million held previously. Disclosure: none Recommended Reading: Eurekahedge’s Regional and Strategy Hedge Fund Indices End Mostly in Green in November John H. Lewis, Osmium Partners Increase Stake in Spark Networks Mohnish Pabrai, Dalal Street Up Their Stake in Horsehead Holding Corp
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