An update from the hedge fund universe: Icahn Capital Lp, the hedge fund managed by billionaire Carl Icahn, reported a sale of around 1.2 million shares of WebMD Health Corp. (NASDAQ:WBMD) on Tuesday. According to the 13D filing with the SEC, Icahn’s position in the company currently involves around 5.5 million shares, valued at approximately $172.6 million.
The move is particularly interesting, since WebMD’s chairman dropped around 185,900 shares yesterday, while the director of the company sold about 6,800 shares last week. The company is in the midst of a 5 million share buyback; WebMD’s common stock purchases were scheduled to be priced at $34 a share.
Seeing as Icahn is one of the biggest activist hedgies, it is particularly important to track all of his moves. As follows, according to data from past 13F filings, Icahn’s position in WebMD went unchanged for over a year, with the last move representing an increase of around one million shares. As is common in this space, Icahn has been holding onto the stake for some time since his first acquisition of 2.2 million shares was made in the middle of 2011.
A few other hedge funds that are long WebMD Health Corp. (NASDAQ:WBMD) include Kensico Capital, managed by Michael Lowenstein, Columbus Circle Investors, managed by Donald Chiboucis, and D. E. Shaw’s D E Shaw & Co.