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.

David Einhorn, Greenlight Capital Sell 2.5 Mln Shares of Einstein Noah Restaurant Group

David Einhorn‘s Greenlight Capital, in a newly amended filing with the SEC, disclosed cutting its position in Einstein Noah Restaurant Group, Inc. (NASDAQ:BAGL) to slightly above 6.7 million shares, from over 9.2 million held earlier. Following the decrease, Greenlight holds 38.3% of the company, down from 53.1% reported in an earlier filing.

David Einhorn

The fund disposed the shared under an underwriting agreement. Greenlight agreed to sell 2.5 million shares of Einstein Noah Restaurant in a registered public offering. The price specified under the terms of the deal, amounts to $17 per share. The shares have been sold to Morgan Stanley & Co. LLC, who acts as the sole underwriter.

It’s not the first move Greenlight is applying regarding its Einstein Noah Restaurant. The fund disclosed selling 1.5 million shares during the third quarter, according to its 13F filing. The stock of Einstein Noah Restaurant has been growing since the beginning of the year, posting a YTD return of over 30%, sporting also a solid P/E of around 22.6.

Some other hedge funds from our database have been holding less significant shares. For example, Jim Simons‘ Renaissance Technologies held 303,900 shares in the previous round of 13F filings. It is followed by Nathaniel August‘s Mangrove Partners, and D. E. Shaw‘s D E Shaw, which own 117,527 shares, and 64,265 shares, according to our database.

Disclosure: none

Recommended Reading:

John Burbank, Passport Capital Add to Position in

Jana Partners’ Third Quarter Portfolio: Closer to the Chemicals and Pharmaceutical Industries

Lansdowne Partners Reduce Position in LSE-listed Central Asia Metals

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.