Comscore Inc (SCOR): Cadian Capital Significantly Reduces Stake

With fourth quarter 2014 financial results to be announced on February 12, Cadian Capital might have shed a considerable amount of shares at an appropriate time, especially if Comscore Inc (NASDAQ:SCOR) discloses unfavorable news next month. Nevertheless, the hedge fund might simply be rebalancing its equity portfolio. After all, its current holding of 1.39 million shares is by no means small and could suggest it remains bullish regarding the stock.

Although the company continues to enjoy the backing of numerous funds, Cadian Capital is not the only institutional shareholder reducing its position in Comscore Inc (NASDAQ:SCOR). Donald Chiboucis’ Columbus Circle Investors for example continue to own around 1.22 million shares, after reducing their holdings by 6%. In addition, Mick Hellman’s HMI Capital and Jim Simons’ Renaissance Technologies both reduced their stake in the digital measurement firm by 15% last quarter. Despite this reduction in their exposure to Comscore, the investment funds boast a position of 553,200 shares and 480,600 shares, respectively. James A. Noonan’s Pivot Point Capital on the other hand maintain his bullish stance towards the company, holding on to its 1.18 million shares that amount to 17.8% of the firm’s equity portfolio. Although some institutional shareholders have reduced their exposure to Comscore last quarter, most continue to own a considerable amount of shares. In fact, Cadian Capital seemed rather bullish regarding the stock, constantly increasing its stake in the company throughout 2014. The latest 13G filing disclosed by the SEC shows that this trend has been reversed, although the fund’s current holdings suggest it has not lost faith in Comscore’s ability to continue performing well.

Disclosure: Pablo Erbar holds no position in any stocks or funds mentioned.