This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tiger Consumer Buys Amazon, Sells Facebook Inc (FB), J.C. Penney

Patrick McCormack got rid of his position in J.C. Penney Company, Inc. (JCP) in the last quarter. The tiger cub sold 5.42 million shares of the retailer in the three month period ending on Spetember 30. At the same time the hedge fund took profits on Herbalife Ltd. (HLF), reducing its position by 63% to 768,252 shares.

Tiger Consumer sells JCP, pockets profit from Herbalife

The other famous stakeholder in J.C. Penney Company, Inc. (JCP) who also exited the entire position was Bill Ackman’s Pershing Square Capital. The fund sold an 18% position in the company at a major loss. Vornado Realty Trust also sold its stake in the retailer at $13 a share in last quarter. Vornado held 13 million shares of JCP.

McCormack was not impressed with Ackman’s short attack on Herbalife Ltd. (HLF) last year, as he noted in his quarterly letter. His hedge fund has maintained a long position in the company since before Ackman presented his bearish thesis on the nutrition supplements company. It seems the fund pocketed some profits on the long bet in the last quarter, as Herbalife shares rose from $45 to $70 in the three month period.

Tiger cubs specialize in tech investments

Tiger cubs specialize in tech investments and almost all of them have major exposure in the sector. Tiger Consumer exited several internet companies in the third quarter; the fund wrapped up its position in Facebook Inca(FB),aeBay Inca(EBAY), Yahoo! Inc. (YHOO), and Expedia Inc (EXPE).

Tiger Consumer added to its position in Google Inc (GOOG), Catamaran Corp (CTRX)a (CCT) and Tim Hortons Inc. (THI), among others.

McCormack bought 253 million shares of Amazon.com, Inc. (AMZN), which made up 3.2% of its portfolio. The fund also bought AutoZone, Inc.a (AZO), News Corp (NWSA) (NWS) and Marriott International Inc (MAR).

Tiger Consumer managed $2.3 billion as of the end of last year.

-By Tabinda Hussain

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs