CIG Wireless Corp (OTCBB:CIGW), an operator of wireless and broadcast communication towers in the United States, has issued approximately 1.25 million shares to Jeffrey Tannenbaum‘s Fir Tree, according to a recent Form 4 filing with the Securities and Exchange Commission (SEC). This move comes in connection with the satisfaction of an indemnification claim and Fir Tree now holds more than 43.6 million shares of CIG Wireless Corp (OTCBB:CIGW). In another filing, RA Capital Management and Peter Kolchinsky have disclosed a further reduction in their stake in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN). 1.33 million shares were disposed of, in three transactions, at prices varying between $10.01 and $10.96 per unit. As a result, RA Capital is left with exactly 6.7 million shares of the biopharmaceutical company.
Fir Tree is the only fund we track that has invested in CIG Wireless Corp (OTCBB:CIGW). The company has reported revenues of $1.67 million, up 205% year-over-year, and earnings per share of $0.37 for the three months ending June 30, 2014. The stock has been falling for nearly two years, following a high of $5 per share in January 2013. The current price of $0.28 per share gives the company a market cap of just $10.7 million.
Several hedge fund managers are actually bullish on Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) and have either initiated a position or have increased their investment in the company during the second quarter of 2014. Steve Cohen, for example, has built a position that amasses 547,200 shares, which are valued at $4.14 million, according to Point72 Asset Management’s latest 13F filing. Israel Englander has reported a massive, 4028% increase in his holding of the stock by the end of Q2. His fund, Millennium Management, holds approximately 450,000 shares worth in excess of $3.4 million. Ken Griffin has also upped his interest in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), increasing his holding of the stock by 857% to roughly 154,700 shares valued at $1.17 million, as reported in Citadel Investment Group’s latest 13F filing.