This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Jana Partners Buys Agrium, Outerwall, News Corp, General Motors

Stocks in this article: AGU ASH ENDP GM NWS NWSA OIS OUTR

Activist hedge fund Jana Partners recently submitted its 13f filing with the Securities and Exchange Commission SEC showing the its equity investments increased to $8,689,718,000 for the third quarter that ended September 30, 2013.

Jana Partners was founded by Barry Rosenstein who also serves as managing partner. The hedge fund acquired 22 new stocks during the quarter.

Jana Partners largest positions

Jana Partners’ largest stockholdings for third quarter include a put option of SPDR S&P 500 ETF Trust NYSEARCA:SPY, which accounts for 25.21% of its portfolio followed by Agrium Inc. (AGU) 7.92%, Ashland Inc. (ASH) 7.1%, Oil States International, Inc. (OIS) 6.49%, and URS Corp (URS) 4.58%.

Jana Partners new acquisitions

During the period, the activist hedge fund purchased a 2,600,000 shares call option of Agrium Inc. (AGU) worth $218,478,000,000.

Early this year, Jana Partners owned 11,199,881 shares or 7.5% stake and went activist on the company because it believed that its board failed to pursue many value creations opportunities and none of its non-management directors have any relevant distribution experience. The activist hedge fund urged the board to address five core issues including capital allocation, cost, controls, conglomerate structure, and corporate governance to generate substantial upside for the stock.

In October, Jana Partners reduced its stake in the company to 2.7% and explained that the decision was "in the course of managing its portfolio," and remained convinced that the company has opportunities for substantial improvement.

Jana Partners acquired 13.5% stake or 3,777,995 shares of Outerwall Inc (OUTR), the parent company of Redbox video rental kiosk. Its investment in the company is worth $138,983,000. In its 13D filing, the activist hedge fund indicated that the stock is "undervalued and represents an attractive investment opportunity," and plans to discuss with the board of the company some strategic alternatives to boost shareholder value.

Jana Partners also purchased 8,550,834 shares of News Corp (NWSA) (NWS) class A common stock DE worth $137,326,000 and 1,523,430 shares of Endo Health Solutions Inc (ENDP) worth $69,227,000.

In addition, the hedge fund also bought 6,423,824 shares of Huntsman Corporation (HUN), 400,000 shares of General Motors Company (GM), 500,000 shares of J.C. Penney Company, Inc. (JCP), and 1,313,549 shares of Walgreen Company (WAG).

Yesterday, the Treasury Department reported to Congress that the government sold some of its shares inaGeneral Motors Company (GM) worth $1.2 billion. Give the amount of the sale, some analysts suggested that the remaining stake of the government in the automaker is about 4%.

-By Marie Cabural

null

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs