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Enzymotec (ENZY): Julian Robertson’s Tiger Management Dumps Half of Its Stake

Julian Robertson‘s Tiger Management has reported a large reduction in its holding of Enzymotec Ltd (NASDAQ:ENZY) in an amended filing with the Securities and Exchange Commission. Whereas the fund held more than 1.14 million shares of Enzymotec at the end of the first quarter, it now holds just 577,407 shares, which account for roughly 2.5% of the company’s common stock.

Julian Robertson

A biotechnology company based in Israel, Enzymotec Ltd (NASDAQ:ENZY) is a manufacturer and global distributor of bio-functional lipid ingredients and final products. So far this year, the stock has not been in a clear trend but has still managed to depreciate by roughly 8.6%. Shares are currently trading at a trailing Price to Earnings (P/E) ratio of 31, significantly lower than the industry average of 166, as reported by Yahoo! Finance. Enzymotec reported first quarter results on May 19, surpassing Wall Street’s expectations. Revenues came in at $14 million and the company registered adjusted earnings of $0.09 per share, topping analysts’ estimates of $0.05 per share.

At the end of the first quarter, approximately 35% of Enzymotec Ltd (NASDAQ:ENZY)’s outstanding stock was held by 6 elite hedge funds, unchanged during the quarter. Billionaire John Paulson is also betting on this stock, with his fund, Paulson & Co, having reported ownership of 4.22 million shares in its latest 13F filing. Jacob Gottlieb‘s Visium Asset Management also has Enzymotec in its equity portfolio, holding exactly 2.2 million shares according to its most recent 13F filing.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Tiger Partners Trading 0 577,407 0 577,407 577,407 2.5%
Tiger Partners 0 577,407 0 577,407 577,407 2.5%
Tiger Partners GP 0 577,407 0 577,407 577,407 2.5%
Tiger Management 0 577,407 0 577,407 577,407 2.5%
The Julian H. Robertson, Jr. Revocable Trust 0 577,407 0 577,407 577,407 2.5%
Julian H. Robertson, Jr 0 577,407 0 577,407 577,407 2.5%
Julian Robertson
Julian Robertson
Tiger Management

Page 1 of 12 – SEC Filing

Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Enzymotec Ltd.
(Name of Issuer)
Ordinary Shares, par value NIS 0.01 per share
(Title of Class of Securities)
(CUSIP Number)
July 1, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[_]  Rule 13d-1(b)
[X]  Rule 13d-1(c)
[_]  Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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