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Harbinger Capital Disposes Shares of Harbinger Group Inc (HRG)

Phil Falcone’s Harbinger Capital Partners has sold around 2.72 million shares of Harbinger Group Inc (NYSE:HRG), a recent SEC filing showed. The fund reported that the transaction happened in 18thof February, 2014. Harbinger Capital Partners sold Harbinger Group Inc (NYSE:HRG) shares at $6.5 apiece. Harbinger Capital Partners owns 73.8 million shares of Harbinger Group Inc (NYSE:HRG) following the sale.

HARBINGER

The transaction price of $6.5 per share represents an option price of shares since the closing price of the Harbinger Group Inc (NYSE:HRG) shares was $11.46 per share on the date of the deal.  

While Harbinger is the largest shareholder of Harbinger Group, Leon Cooperman’s Omega Advisors owns 6.5 million shares of the company. The fund’s position represents the second largest chunk of shares. JHL Capital Group, managed by James H. Litinsky, owns 1.48 million shares, with a reported value of $17.5 million. Harbinger Group Inc (NYSE:HRG) had no insider purchases since 2009. However, the company insiders sold 29.5 million shares in 2013 at an average price of $9.46 per share.

Harbinger Capital Partners was founded in 2001 by the billionaire investor Philip Falcone. The fund invests heavily in consumer goods and conglomerates. The fund’s top holdings include Harbinger Group Inc (NYSE:HRG), Spectrum Brands Holdings, Inc. (NYSE:SPB), and North American Energy Partners Inc. (NYSE:NOA).

Harbinger Group Inc (NYSE:HRG) is a holding company and its subsidiaries provide consumer goods and financial services. The company offers batteries, herbicides, insecticides, pet supplies, electric shavers, grooming products, small appliances, personal care products, and financial services. The company was founded in 1954 and is headquartered in New York, New York.

Disclosure: none

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