Top Plays Carry Mark Kingdon’s Picks To Strong Q2

Visteon Corp (NYSE:VC) was Kingdon Capital’s third top stock pick going into the second quarter. The fund had reduced its stake in the company by 24% during the January-March period to almost 664,000 shares worth $64 million at the end of March. Shares of the electronics products supplier saw a decent 11% rise during the second quarter on the back of the company increasing its fiscal year 2015 adjusted EBITDA guidance by $15 million to $225 million. All eight prominent brokerages and analysts that cover the stock have a ‘Buy’ rating on it, with an average price target of $121, nearly 25% upside potential from its current trading price of $97. Manish Chopra‘s Tiger Veda increased its stake in Visteon Corp (NYSE:VC) by 3% to over 527,000 shares during the first quarter.

Just like Horizon Pharma PLC (NASDAQ:HZNP) and Visteon Corp (NYSE:VC), Kingdon Capital also lowered its stake in CDK Global Inc (NASDAQ:CDK) during the first quarter, by 17% to over 1.17 million shares. As of March 31, this stake was valued at $54.88 million. The company recently announced that it will start charging higher fees to outside software vendors for accessing customers’ data from dealerships that run its dealer management systems (DMS). Analysts have a consensus rating of ‘Hold’ on the stock, with a price target of $52.75, very close to the $52.22 that the stock is currently trading at. Scott Ferguson’s Sachem Head Capital increased its stake in the company by 55% to over 12.65 million shares during the first quarter.

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