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.

Solus Alternative Asset Management Sells Some YRC Worldwide

Solus Alternative Asset Management, YRC Worldwide: Christopher Pucillo and his hedge fund, Solus Alternative Asset Management, just reported selling around 137,300 shares of its holdings in YRC Worldwide, Inc. (NASDAQ:YRCW). The shares have been sold in two deals at an average price of around $12 apiece. Following the sale, Solus holds some 602,600 shares of YRC  stock.

YRC Worldwide, Inc. (NASDAQ:YRCW)

The stock of YRC Worldwide has returned over 70% since the beginning of the year. In the second quarter, the company posted almost flat results, with revenue worth $1.2 billion, and operating income of $14.3 million.

Avenue Capital, managed by Marc Lasry, held one of the largest stakes in YRC Worldwide in Q2, which contained slightly less than 25 million shares, worth around $25 million.

Disclosure: none

Recommended Reading:

How Warren Buffett’s ‘LeBron James Analogy’ Could Make You A Fortune

Sardar Biglari Releases Highly Confident Letter on Cracker Barrel’s $20/Share Special Dividend

It’s Hard to Blame Carl Icahn on Netflix

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.