Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Virgin America Inc (VA): Cyrus Capital Partners Discloses 24% Stake in Recently-Public Company

Stephen C. Freidheim‘s Cyrus Capital Partners has disclosed its position in Virgin America Inc (NASDAQ:VA), a company that went public at the beginning of last week. Cyrus Capital disclosed an activist position that contains around 10.51 million shares of the company, which represent 24.4% of the outstanding common stock. Cyrus has also been a shareholder of Virgin America when the company went private and held 778,726 shares, representing 39.9% of the company prior to the IPO.

Virgin America

Virgin America Inc (NASDAQ:VA) started trading on NASDAQ stock market on Monday, November 17 and it was well received by the market, as its stock gained around 19% since the IPO. The company offered for sale around 13.34 million shares at a price of $23.00 per unit, out of which Virgin America offered around 13.11 million shares and the rest were offered by VX Employee Holdings, a Virgin America employee stock ownership vehicle. Moreover, several investors, including Cyrus Capital offered around 2.0 million shares as over-allotment options.

Virgin America Inc (NASDAQ:VA) is a $1.5 billion US-based airline that was founded in 2007 by the famous British entrepreneur, Sir Richard Branson. The company reported a net profit of $56.24 million for the first nine months of 2014, versus a loss of $4.04 million for the same period of last year. Moreover, its revenues went up to $1.12 billion for the first nine months from $1.06 billion a year ago.

Aside from Cyrus, which is one of the largest shareholders of Virgin America Inc (NASDAQ:VA), among other investors is also VX Holdings LP, which held around 9.48 million common shares after the IPO, which represent 24.8% of the company and PAR Investment Partners, with 2.31 million shares, equal to 6.5% of Virgin America’s common stock.

We should see how Virgin America Inc (NASDAQ:VA)’s stock will move in the next following weeks and if it will attract the attention of other big funds that will purchase long positions in the company. Meanwhile, among the funds that we track, Cyrus Capital is the only shareholder of Virgin America and the $373.60 million position is the largest in the fund’s equity portfolio. Cyrus is a fund focused on transportation stocks and aside from Virgin America it also owns shares of several other airline operators such as Delta Air Lines, Inc. (NYSE:DAL), American Airlines Group Inc (NASDAQ:AAL), and JetBlue Airways Corporation (NASDAQ:JBLU).

Disclosure: none

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!