UTStarcom Holdings Corp (UTSI): Shah Capital Ups Stake to 28.3%

Shah Capital Management, a hedge fund run by Himanshu H. Shah has increased its stake in Chinese telecom infrastructure provider UTStarcom Holdings Corp (NASDAQ:UTSI) by almost 3 percentage points, to 28.34%. The investor has bought additional 628,992 shares and now holds 10.6 million shares. The Raleigh, North Carolina-based asset manager has first invested in the company in June, 2009, taking a 5% stake and has gradually increased its position since then. Currently, the stake in UTStarcom Holdings Corp (NASDAQ:UTSI) has a market value of $30 million and is the second largest holding from an equity portfolio valued at $134 million.

 UTStarcom Holdings Corp (NASDAQ:UTSI)

Himanshu H. Shah, which has been appointed as the Chairman of the troubled company in June, has slowly increased its stake in UTStarcom Holdings Corp (NASDAQ:UTSI) as the stock continued its decline on worsening business prospects and falling earnings per share. Since 2009, when the investor has first disclosed its stake, the company’s shares fell by more than 50%. The future does not seem to be rosy as well. At the last earnings call UTStarcom Holdings Corp (NASDAQ:UTSI) has given an outlook for earnings for the third quarter below analysts’ expectations, sending the stock price down further. It has rebounded since then and trades now at $3 per share.

Other investors that own UTStarcom Holdings Corp (NASDAQ:UTSI) include Phil Frohlich‘s Prescott Group Capital Management that has a stake of 2 million shares valued at $2.3 million and Chuck Royce‘s Royce & Associates with 1.1 million shares that have a market value of approximately $3.5 million. The fourth largest investor in UTStarcom Holdings Corp (NASDAQ:UTSI) from the hedge funds tracked by insidermonkey.com is Jim Simons with his fund Renaissance Technologies owning 344,197 shares that have a market value of $1 million.

Shah Capital was founded in 2005 by Himanshu H. Shah, a former UBS employee. The fund’s equity portfolio has a total of 15 stocks and is focused mainly on Chinese industrial and technology companies.

Disclosure: none

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

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

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

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!