As of his last filing, Klarman’s Baupost Group owned 3.8M shares. Today’s filing raises his stake to 7.1M shares or 23.74% of the company. I posted my more timid assessment of the company a few weeks ago. Perhaps I need a little more courage in my convictions. Maybe I’ll have to [...]
In the span of a month, Horizon Lines (HRZ) has been marked down from $17-18 down to $10. First came news of a federal subpoena relating to pricing practices in the Puerto Rico trade. And then followed an ugly earnings report, or more accurately, the nasty guidance revision.
After raising diluted EPS guidance in [...]
Mystery solved:
Horizon Lines Served With Warrants & Subpoena RE: Antitrust Investigation
Details are scarce but my first instinct is that this is may not be as bad as it sounds. Of course, my feelings mean nothing until more details about the investigation are released. With HRZ’s heavy debt load and a large (and unbudgeted) capex program looming, it may be foolish to jump in here until a measure of the seriousness of the investigation is evident.
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An hour before today’s close, Horizon Lines (HRZ) just fell off a [...]
Here is the research from the old website. Any updates can be found on the this blog and will not be reflected on these older web pages.
ENLIGHTENED-AMERICAN PORTFOLIO PICKS
Agnico-Eagle Mines - (AEM-US) - updated 10/28/2007
Chesapeake Energy - (CHK-US) - updated 11/18/2007
Devon Energy Research Report - (DVN-US) - updated 02/12/2008
Elements ETN linked to the [...]
For the last few weeks, it has been strange to see the market selling off consistently but yet the VIX gauge stay in the lower 20’s. The VIX is now inching toward 30 and things are getting a little scary out there.
I’ll admit this sell-off causes me to hesitate to wade in. I [...]
A few weeks ago, I posted about some strange action in Horizon Lines (HRZ) and a few weeks later, Seth Klarman’s Baupost Group disclosed an 11% stake in the company, which may explain the upward price movement.
In any event, if the share price holds up at this level, I will be a proud shareholder of [...]
