Michael Lowenstein & Kensico Capital Also Drop Some WebMD Health Corp. (WBMD) - InvestingChannel

Michael Lowenstein & Kensico Capital Also Drop Some WebMD Health Corp. (WBMD)

Activist hedge fund, Kensico Capital, managed by Michael Lowenstein reported a sale of about 572,300 shares of WebMD Health Corp. (NASDAQ:WBMD) in an amended 13D filing with the Securities and Exchange Commission. At the most recent price of the company’s stock, the value of the current position of Kensico Capital in WebMD Health Corp. (NASDAQ:WBMD) amounts to almost $155 million and involves about 5.1 million shares.

WebMD Health Corp. (NASDAQ:WBMD)

Through this transaction, Lowenstein joins Carl Icahn, another “hedgie” long WebMD Health Corp. (NASDAQ:WBMD), who also yesterday filed a 13D filing with the SEC in which his hedge fund disclosed it was cutting its stake in the company by 1.2 million shares. Both moves come amid some insider sales, as well as the recent buyback in which WebMD Health Corp. (NASDAQ:WBMD) planned to purchase 5 million shares, offering a price of $34 per share. Kensico Capital has been holding to its position in the company for some time, with the most recent sale representing the first move made in the stake in a year.

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