Jay Petschek’s Corsair Capital Management Buying Up The Globe; Or At Least, Globe Specialty Metals Inc. (GSM)

Let’s now take a quick look at the other three hot picks of Corsair Capital Management. According to another recent 13G form filed with the SEC, Jay Petschek and Steve Major’s hedge fund collectively owns 4.78 million shares in Republic Airways Holdings Inc. (NASDAQ:RJET), which represent 9.6% of the company’s outstanding common stock. The hedge fund’s position increased by 126,189 shares since the most recent 13F filing. Republic Airways’ shares declined by nearly 30% year-to-date, therefore, the stock might serve as a good buying opportunity for bottom-fishing investors. The company has recently posted its preliminary passenger traffic results for May and it seems that the company is making progress. Republic Airways Holdings reported carrying more than 2 million passengers during May, marking an increase of 1% year-over-year. The largest investor in Republic Airways Holdings Inc. (NASDAQ:RJET) in our database is Ross Margolies’ Stelliam Investment Management, which own 4.75 million shares valued at $65.35 million.

Corsair Capital Management has initiated a long position in Orbital ATK Inc. (NYSE:OA), with the hedge fund reporting a new equity stake consisting of 779,505 shares valued at $59.73 million. The stock is up almost 4% over the past three months and might embark on an uptrend soon, as the company has grabbed a $27 million contract from the U.S. Army for the production of a specific type of proximity sensor. Orbital ATK Inc. (NYSE:OA) is the sole supplier of the required type of sensor, therefore, the company will undoubtedly achieve substantial financial gain from the U.S. Army order.

The last stock we’ll cover in this article is Voya Financial Inc. (NYSE:VOYA). Corsair Capital Management reported the sale of 43,700 shares in Voya, which represents only 3% of the hedge fund’s stake reported in the previous 13F filing. Jay Petschek and Steve Major’s hedge fund now owns 1.28 million shares as of the end of the most recent quarter, which are valued at $55.33 million. The stock has increased by nearly 11% since the beginning of the current year and the company’s outlook still remains quite strong. Voya Financial has been recently included in the 2015 Fortune 500 list, which consists of the largest American companies by revenue. The company is ranked second among the new entrants to the Fortune 500, which clearly indicates that Voya Financial has been performing very strong lately. Another reputable hedge fund from our database that owns a stake in Voya Financial Inc. (NYSE:VOYA) is Rob Citrone’s Discovery Capital Management.

Disclosure: None