Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Dan Loeb, Third Point Buy Shares of Enphase Energy at $6.83 Per Share

Dan Loeb‘s Third Point, revealed, in a new form 4, buying a total of 190,100 shares of Enphase Energy Inc (NASDAQ:ENPH). The shares have been bought in one transaction, the price amounting to $6.83 apiece. Following the acquisition of additional shares, Third Point holds in aggregate some 7.95 million shares of the company.


Enphase Energy is engaged in the microinverter systems for the solar photovoltaic panels. For the third quarter of the year, the company posted a 7% growth in its revenues, which totaled $62 million. The net loss under GAAP, amounted to $6.3 million, equal to $0.15 per share, an improvement from the net loss of $8.9 million posted for the same period of last year.  For the last quarter of the year, the company expects revenues between $62 and $65 million. The non-GAAP operating expenses are forecasted to remain flat over the quarter at approximately $20.4 million.

Out of the funds we track, Drew Cupps’ Cupps Capital Management, and Ellington, managed by Mike Vranos sold out their stakes in Enphase Energy, Cupps holding around 20,500 shares, and Ellington owning 12,700 shares.

In the latest round of 13F filings, Dan Loeb’s Third Point revealed holdings from its equity portfolio as at the end of the third quarter. The largest stake is held by Third Point in Yahoo! Inc. (NASDAQ:YHOO), the fund disclosing holding a total of 16 million shares, worth about $530.7 million. On the second place is situated American International Group Inc (NYSE:AIG), with a position worth $486.3 million, which amasses 10 million shares. Some smaller holdings involve 6.2 million shares held in Sothebys (NYSE:BID), and 2 million shares of FedEx Corporation (NYSE:FDX).

Earlier Dan Loeb caught everyone’s attention after revealing that he holds a long activist position in FedEx Corporation (NYSE:FDX), and after disclosing that Third Point is the largest shareholder of Sothebys (NYSE:BID) and that he intends to pursue some measures to increase the shareholder value of the company. As a reply, Sothebys adopted a so-called “poison pill.”

Disclosure: none

Recommended Reading:

Karpus Management To Nominate Three Directors to Western Asset Inflation Management Fund’s Board

Corvex Capital, Related Fund Management to Nominate New Board of Trustees at CommonWealth REIT

Mario Gabelli, Gamco Add to Position in Mocon

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.