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.

Steadfast Capital Management Discloses New 6.2% Stake In TerraForm Power Inc (TERP)

The hedge fund world seems to like TerraForm Power Inc (NASDAQ:TERP) very much. After Adage Capital has disclosed a 8.68% stake in the company, Steadfast Capital Management, run by Robert Pitts, has followed suit. According to a recent filing with the Securities and Exchange Commission, Steadfast Capital has built a position that amasses 1.71 million shares or 6.2% of the total number of shares outstanding.

TerraForm Power Inc (NASDAQ:TERP)

TerraForm Power Inc (NASDAQ:TERP) went public on July 17 at $25 a share. The first day of trading was euphoric, with shares reaching a high of $34.34, however it did not last long. The stock entered a downtrend and is not trading at $31.65 per share.

In total, 20 million shares were issued, while underwriters were offered options to acquire a further 3 million shares at the Initial Public Offering (IPO) price. Net proceedings from the offering are estimated to be around $530 million and will be used to finance further expansion of core activities and other corporate purposes.

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.
Loading...