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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (49084)8/23/2012 10:52:21 AM
From: MCsweet  Read Replies (1) of 78652
 
XIN,

From 13F filings, the top shareholder Blue Ridge Capital sold 2.7 million shares last quarter. They own 11 million more shares. It appears that they were an initial investor at < $1 in a private equity fund and the fund is winding down, so they are selling out. From an old seeking alpha article, I saw mention of the company canceling a secondary offering a couple years back in which Blue Ridge would have sold shares.

IMO, the Blue Ridge sale puts a short-term cap on the stock price, but also is positive for the long-term as the company will be able to complete its buyback at cheap prices. Some other smart institutions such as Renaissance Technology and Millennium Technology increased shares during the last quarter and the CFO will be doing a US roadshow to drum up interest.

MC
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