John Thaler Pulls Capital Out Of These Small-Caps, Returns It To Investors

Loosely continuing on the family theme is the increase of 136% JAT Capital made in family-controlled Sinclair Broadcast Group Inc (NASDAQ:SBGI). After the increase, JAT Capital held 1.88 million shares with a value of $59.00 million. Sinclair Broadcast (NASDAQ:SBGI), with 162 stations in 79 markets, has returned 7.00% on the NASDAQ so far this year, but is down by 6.55% over the past year. Sinclair Broadcast surprised analysts with its earnings for the first quarter, posting $0.25 which was $0.13 above expectations, while revenues were also slightly better than expected. Having a good feeling about Sinclair Broadcast (NASDAQ:SBGI) is hedge fund manager Glenn J. Krevlin, representing Glenhill Advisors, which increased its stake in Sinclair Broadcast by 5% during the first quarter to 2.60 million shares with a value of $81.48 million. Sinclair Broadcast celebrated 20 years as a publicly-traded company on the NASDAQ on June 5.

In real estate database company Zillow Group (NASDAQ:Z), Thaler opened a stake of 432,019 shares with a value of $43.33 million during the first quarter. Zillow, founded in 2005, has been having some ups-and-downs during the spring, and has lost 14.28% so far year-to-date and 32.47% over the last year. The stock has been battered by lower-than-expected revenue for the first quarter, although earnings managed to beat analysts’ expectations. Analysts are also pessimistic regarding the company’s future traffic, suggesting that Zillow (NASDAQ:Z) has to increase its efforts in marketing, advertising,  or possibly launch new products. Nonetheless, a major investor in Zillow (NASDAQ:Z) is Tiger Global Management, led by Chase Coleman, owning a stake of 3.58 millon shares with a value of $359.34 million.

Disclosure: None