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.

Pine River Capital Raises Activist Stake in Camelot Information Systems Inc (ADR) (CIS)

Brian Taylor‘s Pine River Capital reported raising its stake in small-cap IT services company Camelot Information Systems Inc (ADR) (NYSE:CIS). According to Pine River’s filing, the fund currently holds 7.2% of the company’s common stock, up from 5.3% revealed in an earlier filing. The activist stake owned by Pine River amasses over 3.3 million shares, versus some 2.5 million revealed earlier. The fund initiated a position in Camelot earlier in October.

Brian Taylor


Apparently, Pine River Capital is not the only interested activist in the Chinese-based Camelot Information Systems Inc. (ADR) (NYSE:CIS). Rob Citrone’s Discovery Capital Management, revealed, in its latest 13F, holding around 1.4 million shares, worth $2.6 million.  It is followed by Jim Simons’ Renaissance Technologies holding approximately 853,400 shares, raising the position by 19% over the third quarter.  There has been another interested activist in the line-up for Camelot Information Systems Inc,(ADR) (NYSE:CIS). D.E.Shaw‘s D E Shaw, is another fund which holds a small position in the company, its stake containing 73,700 shares.

With a year-to-date return of 95%, Camelot has a market capital of 89.85 million. Camelot has traditional offered enterprise level services and applications, especially for Financial Industry Information. Last reported quarterly results, the third for the year, saw net revenue increase by 12.5%, corresponding to a jump  to $70.9million, from $63million a year ago.

In September 2013, Camelot Information Systems Inc. (ADR) (NYSE:CIS) proposed the move to privately-owned company, with the CEO Simon Yiming Ma and nearly 34 employees acquiring the remaining ADRs. Financial support of $70 million was provided by China Development Bank, while $20 million convertible debt was provided by Zoyi Management Consulting.

Disclosure: none

Recommended Reading:

Solus Alternative Asset Management Ups Position in YRC Worldwide, Inc. (YRCW) to 14.6%

Hedge Fund News: John Paulson, Paul Isaac & Dan Loeb

Joho Capital Initiates Passive Stake in Inc (WUBA)

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.