Whitebox Advisors Closes Stake in Cash America International Inc (CSH)

Andy Redleaf‘s Whitebox Advisors reported, in a new filing with the SEC, selling out its position in Cash America International Inc (NYSE:CSH). Previously the fund held over 1.62 million shares of the company, equal to 5.5% of the common stock.

Cash America International, Inc. (NYSE:CSH)

At the end of last year, aside from Whitebox Advisors, several other hedge funds held shares of Cash America International Inc (NYSE:CSH). Joe Huber‘s Huber Capital Management position contained 1.59 million shares, valued at $60.86 million; followed by Amy Minella‘s Cardinal Capital with a $29.33 million stake, which contained 765,900 shares. Ken Griffin‘s Citadel Investment Group upped its stake by almost 50% on the quarter to 183,700 shares, worth around $7.04 million.

Cash America International Inc (NYSE:CSH) is a $1.1 billion financial company engaged in providing specialty services to individuals through retail locations and e-commerce platforms. The stock of the company has remained almost unchanged since the beginning of the year, but lost over 25% over the past 12 months. Nevertheless, the average recommendation for the stock is ‘Overweight’ with the target price set at around $45 per share. The stock trails a P/E of 9.xx, below the Credit Services industry average of 21.xx, and has a forward P/E of 8.xx.

For the last year, the company reported revenue of $1.8 billion, unchanged over the year. Its net income declined to $4.04 per share, from $4.57 posted a year ago, and was slightly below the consensus estimate of $4.07. For the first quarter of 2014, Cash America International Inc (NYSE:CSH) is expected to deliver an EPS of $1.21 and revenue of $468 million.

Whitebox Advisors, at the end of last year, had an equity portfolio worth $2.28 billion. Over 7% of the portfolio were held by General Motors Company (NYSE:GM), of which the fund owned 5.21 million shares with a reported value of $162.24 million. Whitebox was also bullish on American Capital Agency Corp. (NASDAQ:AGNC), and during the fourth quarter of 2013, raised the stake by over 2000%, to some 2.36 million shares, worth $45.48 million.

Disclosure: none

Recommended Reading:

Becker Drapkin Management Further Reduces Holding in Pacer International, Inc. (PACR) to Under 2%

GLG Partners Reveal New Stake in Emerald Oil Inc (EOX)

Bart Baum, Ionic Capital Raise Stake in LIN Media LLC (LIN) to 5.1%

 

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!