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.

Leon Cooperman Reiterates 11.1% Stake in Atlas Resource Partners, L.P. (ARP)

After, earlier in November, Leon Cooperman, the manager of Omega Advisors reported a position in Atlas Resource Partners, L.P. (NYSE:ARP), in a new filing the billionaire reiterated its stake in the company. Mr. Cooperman disclosed that he owns a passive position in the company, which amasses around 6.6 million shares of Atlas Resource Partners, L.P. (NYSE:ARP). The holding represents 11.1% of the company’s common stock.

Leon Cooperman in spot light

The company reported a net loss of $39.7 million in the third quarter of the year, much higher than the $10.1 million loss posted in the same period of last year. Also, earlier this year, Atlas Resource Partners, L.P. (NYSE:ARP) completed the acquisition of natural gas assets from EP Energy E&P Company, L.P., worth $733 million. The stock of Atlas has been down by over 9% year-to-date.

In addition to Cooperman, Trafelet Capital, managed by Remy Trafelet revealed holding 754,600 shares of Atlas Resource Partners, L.P. (NYSE:ARP) in the latest round of 13F filings, with a reported value of $15.8 million. It is followed by Alec Litowitz and Ross Laser‘s Magnetar Capital, which holds some 188,000 shares, worth $3.9 million. Some other hedge fund revealed much smaller stakes in the company.

Cooperman, at the end of November, also revealed dumping some shares of Resource America Inc (NASDAQ:REXI). Mr. Cooperman sold some 377,800 shares for $3.5 million, reducing in this way his stake in the company to around 1.03 million shares.

In the equity portfolio of Omega Advisors, the largest holding is the $321.6 million position in SLM Corp (NASDAQ:SLM), which amasses over 12.9 million shares. On the second place is American International Group Inc (NYSE:AIG), in which Omega owns 5.8 million shares, with a reported value of $282.4 million. In Sirius XM Holdings Inc (NASDAQ:SIRI) Mr. Cooperman holds a $278.6 million stake, which contains around 71.9 million shares.

Disclosure: none

Recommended Reading:

Warren Buffett’s Latest Filing Reveals That He is Still Fond of DaVita HealthCare Partners Inc (DVA)

Hedge Fund News: Paul Singer, Carl Icahn & Marc Faber

Steven Cohen, SAC Reveal Boosting Their Holding in Move Inc. (MOVE)

 

Loading...