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.

Alydar Capital Boosts Its Asbury Automotive Group Bet $ABG

John Murphy’s Alydar Capital disclosed a 5.02% stake in Asbury Automotive Group (ABG) yesterday. Alydar Capital had 625K shares of ABG in its portfolio at the end of March. This means they purchased more than 1 Million shares at prices around $16 per share. Currently ABG trades at $15.72, so investors can imitate Alydar’s trade at a 2% discount. The stock lost 15% since the end of March and this might have triggered Alydar Capital‘s decision to almost triple its bet.

Glenn Fuhrman and John Phelan’s MSD Capital owns more than 10% of ABG’s outstanding shares. Daniel Gold’s QVT Financial owns around 9% of the company as well. Benjamin Slavet’s Ascend Capital owns less than 2% and Phill Gross’ Adage Capital has slightly less than 1% of Asbury. The funds we track own more than a quarter of Asbury’s outstanding shares.

Phill Gross

Boston-based Alydar Capital is a long-short hedge fund managing more than $2 Billion. The fund was founded by John A. Murphy in 2003. Previously John Murphy worked under Lawrence Greenberg at Mt. Everest Fund, which was liquidated in 2002. Greenberg was formerly a fund manager at Fidelity.

Loading...