Is it a good time to buy Calpine Corporation (NYSE:CPN) shares? Peter Adam Hochfelder seems to think so, as he increases his fund’s investment in the company by 58%. According to a recent filing with the Securities and Exchange Commission (SEC), his fund, Brahman Capital, now holds 21 million shares or 5.24% of the company’s total number of shares outstanding. In the mean time, Daniel Lewis has stepped up his interest in Bellatrix Exploration Ltd (NYSEMKT:BXE) and has further increased his investment in the Canada-based oil and gas company. Lewis’ Orange Capital has reported ownership of 19.5 million shares or 10.2% of the common stock. A week ago, on September 26, the fund had reported a 17.5 million shares stake in Bellatrix Exploration Ltd (NYSEMKT:BXE), which is activist by nature.
Calpine Corporation is among the favorites of Bill Miller, the manager of Legg Mason Capital Management. In its latest 13F filing, the fund has reported ownership of 5.13 million shares valued at $122 million. David E. Shaw is also bullish on this stock, having increased his fund’s stake by 39% during the second quarter of 2014. D E Shaw reportedly holds 3.21 million Calpine Corporation shares worth in excess of $76.4 million. Lee Ainslie, on the other hand, has deemed it wise to limit his exposure to this stock and has reduced his investment by 10% during the same period of time. His fund, Maverick Capital, currently holds 10.1 million shares valued at $240 million.
Mark Rachesky is also optimistic about the prospects of Bellatrix Exploration Ltd (NYSEMKT:BXE), having initiated a position for his fund during the second quarter of 2014. MHR Fund Management reportedly holds 530,000 shares valued at $4.6 million. Israel Englander is another hedge fund guru interested in Bellatrix Exploration Ltd (NYSEMKT:BXE). His fund, Millennium Management has reported ownership of approximately 368,700 shares valued at $3.21 million. David Dreman, on the other hand, has chosen to reduce his exposure to the stock, although the reduction is a small one. His fund, Dreman Value Management holds roughly 853,300 shares worth $7.43 million.
