Why These Billionaire Steve Cohen Picks Deserve Your Attention

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 Rice Energy Inc (NYSE:RICE)

Point72 acquired over 2.3 million more shares of Rice Energy Inc (NYSE:RICE) in the third quarter, moving into the next one with a total of 2.59 million shares of the gas and oil company. The updated stake has a net worth of $67.66 million. Last month, Deutsche Bank upgraded the company’s rating to ‘Buy’ from ‘Hold’ and increased its price target to $33 from $30.  Rice Energy crushed analysts’ estimates for the third quarter by reporting EPS of $0.39 on $198.9 million revenue, above the projections of $0.02 EPS and $214.12 million revenue. Andreas Halvorsen’s Viking Global owns 14.97 million Rice Energy Inc (NYSE:RICE) shares, according to the latest 13F data.

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 Valeant Pharmaceuticals Intl Inc (NYSE:VRX)

Point72 is bullish on Valeant Pharmaceuticals Intl Inc (NYSE:VRX), as the fund upped its stake in the company by 20% in the third quarter, ending the period with 4.62 million shares, with a total value of $113.45 million. Valeant’s stock was briefly battered along with other pharmaceutical stocks following President-Elect Donald Trump’s interview with Time magazine, in which he vowed to bring down drug prices. Shares have recovered since as some investors don’t think Trump will do too much in terms of pricing. The number of elite funds with holdings in Valeant Pharmaceuticals Intl Inc (NYSE:VRX) fell by 2 quarter-over-quarter to 58 at the end of September.

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Bunge Ltd (NYSE:BG)

Point72 Asset Management loaded up on Bunge Ltd (NYSE:BG) in the third quarter, buying about 2.72 million shares of the company and boosting its stake in the firm by a whopping 1,471%. The fund moved into the fourth quarter with a total of 2.90 million shares of the New York-based food company. The updated position has a total worth of $171.87 million. Bunge earned $0.79 per share in the third quarter, worse than the Street’s projection of $0.81. A total of 23 hedge funds tracked by Insider Monkey were long Bunge Ltd (NYSE:BG) at the end of the third quarter, down from 33 funds a quarter earlier.

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Disclosure: None

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