Steven Cohen’s Sac Capital Advisors, has significantly increased its position in DeVry Education Group Inc (NYSE:DV) to over 3.17 million shares from 27,391 shares, held at the end of the fourth quarter of 2013. The current holding amasses 5.0% stake of the company’s common stock.
Recently, DeVry Education Group Inc (NYSE:DV) announced its financial results for the second quarter of 2014, posting a decrease in revenue by 1.9% on the year, to $491.3 million. Net income also fell to $48.2 million, from $50.3 million in the second quarter of 2013. The diluted earnings per share were down at $0.74 from $0.78 last year, and lower than the mean estimates of $0.75.
The company generated $131.1 million of operating cash flow and the cash and cash equivalent decreased by 21% to $262.0 million. There was an increase in the segment revenue to $190.4 million, representing a 13.5% increase over the second quarter of 2013.
Of the other hedge funds we track, Charles De Vaulx’s International Value Advisers, is the largest shareholder of DeVry Education Group Inc (NYSE:DV), which held 4.85 million shares, worth $172.01 million at the end of the fourth quarter. Ariel Investments, managed by John W. Rogers is another hedge fund, which held 2.81 million shares with a reported value of $99.58 million.
Recently, SAC Capital Advisors upped its stake in Lumber Liquidators Holdings Inc (NYSE:LL) to 1.39 million shares, from 60,144 shares held previously. Last month, Steven Cohen initiated a position in Retrophin Inc (NASDAQ:RTRX), which amasses 1.29 million shares of the company.