Pinnacle Entertainment, Layne Christensen: Highlights From Hedge Funds’ Latest Filings

Next company that has been recently targeted by an investor is Home Loan Servicing Solutions Ltd (NASDAQ:HLSS), in which Christian Leone’s Luxor Capital Group initiated a passive stake that amasses 9.8% of the company. Luxor reported ownership of 6.93 million shares of the company engaged in the acquisition of mortgage servicing assets and residential mortgage loan services. Luxor initiated a stake on March 2, around a week after Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) agreed to sell itself to New Residential Investment Corp for around $1.3 billion. The stock of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS)  gained 12% since the deal was announced, although the stock still is 11.70% down on the year. Perella Weinberg Partners’ Xerion strategy is another shareholder of Home Loan Servicing Solutions, holding some 469,200 shares as of the end of 2014. In addition, last week, Luxor disclosed reducing its stake in William Lyon Homes (NYSE:WLH) by 1.90 million shares to 4.39 million shares. Among the fund’s other recent new picks are Yahoo! Inc. (NASDAQ:YHOO), Sunedison Inc (NYSE:SUNE) and Liberty Global plc (NASDAQ:LBTYK), all disclosed in the fund’s latest 13F filing.

Finally, in another filing with the SEC, Glenn Russell Dubin‘s Highbridge Capital Management disclosed a 9.99% stake in Layne Christensen Company (NASDAQ:LAYN). The fund reported holding 2.62 million shares of the company that can be issued upon the conversion of convertible notes. However, the terms of the notes state that Highbridge cannot convert any of these securities if the investor would beneficially own more than 9.99% of the outstanding shares after the conversion. Therefore, the actual number of shares beneficially owned by Highbridge is smaller than 2.62 million shares. Layne Christensen Company (NASDAQ:LAYN) is an engineering and drilling company whose stock lost over 69% in the last 52 weeks. The largest shareholder of Layne Christensen Company (NASDAQ:LAYN) among the funds that we track is Peter Schliemann’s Rutabaga Capital Management, which owns 2.16 million shares as of the end of December.

Disclosure: none