Steven Cohen Ups His Bets on NQ Mobile Inc (ADR) (NQ)

Steven Cohen‘s Sac Capital Advisors revealed a considerably increased its passive stake in NQ Mobile Inc (ADR) (NYSE:NQ). According to a recent 13G filing, the fund now owns 7.72 million American Depositary Shares, each representing five Class A common shares of the company. The stake amasses 5.1% of NQ’s class A common stock and is significantly higher than the previously held position of 263,000 American Depositary Shares.

SAC CAPITAL ADVISORS

Co-headquartered in Dallas, Texas, and Beijing, NQ Mobile Inc (ADR) (NYSE:NQ) is a global provider of mobile Internet services, including mobility services & mobile platforms for the enterprise market and mobile security & games for the consumer market. The company’s main products are NQ Mobile Security, NQ Enterprise Shield, NQ Mobile Guard, and NQ Mobile Vault. Recently, NQ announced that it was awarded ”Gold” as Fastest Growing, Best Business Expansion, and Best Overall Security Company of the Year at the 10th Annual Info Security Global Excellence Awards, based on criteria including market & product line expansion and percentage of overall growth.

The company also signed a deal with Samsung to promote and resell the latter’s KNOX mobile security services for the entire Android devices portfolio.

Generating profits of nearly $10.00 million in the past 2 years, NQ Mobile Inc (ADR) (NYSE:NQ) is expected to produce earnings per share of $1.41 in 2014. It currently trades around $20.xx, with a Forward P/E ratio of 14.50, which is significantly lower than the trailing P/E of 35.00 for the Application Software Industry. The mean analyst recommendation for the stock is “Buy”.

NQ Mobile Inc (ADR) (NYSE:NQ) is also among PAW Capital’s recent top picks, the fund’s position containing 530,000 shares. According to a SEC filing in January, Brad Gerstner’s Altimeter Capital Management also increased its stake in the company to 37.6 million shares, a proportion of 17.30% of all outstanding class A common stock.

Connecticut-based SAC Capital is also a major shareholder of Zynga Inc (NASDAQ:ZNGA) and Sunedison Inc (NYSE:SUNE), with holdings of 15.76 million shares worth $59.88 million and 12.80 million shares worth $167.03 million, respectively.

Disclosure: none

Recommended Reading:

Ted Kang’s Kylin Management Is Betting On 21Vianet Group Inc (VNET) And NQ Mobile Inc (ADR) (NQ)

Altimeter Capital Management Further Raises Stake in NQ Mobile Inc (NQ)

Wexford Capital Decreases Exposure to Diamondback Energy Inc (FANG)

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

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 Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

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!