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.

Michael Lowenstein & Kensico Capital Also Drop Some WebMD Health Corp. (WBMD)

Activist hedge fund, Kensico Capital, managed by Michael Lowenstein reported a sale of about 572,300 shares of WebMD Health Corp. (NASDAQ:WBMD) in an amended 13D filing with the Securities and Exchange Commission. At the most recent price of the company’s stock, the value of the current position of Kensico Capital in WebMD Health Corp. (NASDAQ:WBMD) amounts to almost $155 million and involves about 5.1 million shares.

WebMD Health Corp. (NASDAQ:WBMD)

Through this transaction, Lowenstein joins Carl Icahn, another “hedgie” long WebMD Health Corp. (NASDAQ:WBMD), who also yesterday filed a 13D filing with the SEC in which his hedge fund disclosed it was cutting its stake in the company by 1.2 million shares. Both moves come amid some insider sales, as well as the recent buyback in which WebMD Health Corp. (NASDAQ:WBMD) planned to purchase 5 million shares, offering a price of $34 per share. Kensico Capital has been holding to its position in the company for some time, with the most recent sale representing the first move made in the stake in a year.

Recommended Reading:

Nuance Communications Inc. (NUAN), American Capital Agency Corp. (AGNC): What This Top-Earning Billionaire Has Been Buying

Mario Gabelli On Tesla Motors Inc (TSLA) & Elon Musk: ‘I Am Not So Sure He Should Be Selling Direct’

What Jim Chanos Thinks About China, Apple Inc. (AAPL) & Where He’s Looking Next

Disclosure: none

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.