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Point72 Asset Management Discloses 5.1% Stake In Adeptus Health Inc. (ADPT)

Published on March 21, 2016 at 5:43 pm by Meena Krishnamsetty in Hedge Funds, News
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Billionaire Steven Cohen‘s Point72 Asset Management has filed a 13G with the Securities and Exchange Commission, in which it reported its position in Adeptus Health Inc (NYSE:ADPT). The filing showed that Point72 owns 721,066 shares of Adeptus, which represent 5.1% of the company’s outstanding stock. It’s interesting to point out that Point72 held shares of Adeptus last year, but unloaded the entire stake of 41,000 shares during the last three months of 2015.

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Overall, at the end of the fourth quarter, a total of 22 of the hedge funds tracked by Insider Monkey were long this stock, down by five funds from the third quarter.  Among them, James E. Flynn’s Deerfield Management has the biggest position in Adeptus Health Inc (NYSE:ADPT), worth close to $71.3 million, corresponding to 2.9% of its total 13F portfolio. Sitting at the No. 2 spot is Dinakar Singh’s TPG-AXON Management LP, with a $29.9 million position; 2.5% of its 13F portfolio is allocated to the stock. Remaining hedge funds and institutional investors with similar optimism consist of Columbus Circle Investors, Ken Griffin’s Citadel Investment Group and Gilchrist Berg’s Water Street Capital.

On the other hand, Kris Jenner, Gordon Bussard, Graham McPhail’s Rock Springs Capital Management dropped the biggest position in Adeptus Health Inc (NYSE:ADPT) of the 800 funds followed by Insider Monkey, comprising close to $14.4 million in stock, and Brad Farber’s Atika Capital was right behind this move, as the fund said goodbye to about $10.7 million worth of shares.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Point72 Asset Management, L.P. 0 158,500 0 158,500 158,500 1.1%
Point72 Capital Advisors, Inc. 0 158,500 0 158,500 158,500 1.1%
Cubist Systematic Strategies 0 2,566 0 2,566 2,566 Less than 0.1%
EverPoint Asset Management 0 560,000 0 560,000 560,000 3.9%
Steven A. Cohen 0 721,066 0 721,066 721,066 5.1%

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Page 1 of 11 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
 (Amendment No. )*

ADEPTUS HEALTH INC.

(Name of Issuer)

Class A Common Stock, Par Value $0.01 Per Share

(Title of Class of Securities)
006855100
(CUSIP Number)
March 18, 2016
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐
Rule 13d-1(b)
☒
Rule 13d-1(c)
☐
Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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