Leon Cooperman Reiterates 11.1% Stake in Atlas Resource Partners, L.P. (ARP)

After, earlier in November, Leon Cooperman, the manager of Omega Advisors reported a position in Atlas Resource Partners, L.P. (NYSE:ARP), in a new filing the billionaire reiterated its stake in the company. Mr. Cooperman disclosed that he owns a passive position in the company, which amasses around 6.6 million shares of Atlas Resource Partners, L.P. (NYSE:ARP). The holding represents 11.1% of the company's common stock.


Leon Cooperman in spot light


The company reported a net loss of $39.7 million in the third quarter of the year, much higher than the $10.1 million loss posted in the same period of last year. Also, earlier this year, Atlas Resource Partners, L.P. (NYSE:ARP) completed the acquisition of natural gas assets from EP Energy E&P Company, L.P., worth $733 million. The stock of Atlas has been down by over 9% year-to-date.

In addition to Cooperman, Trafelet Capital, managed by Remy Trafelet revealed holding 754,600 shares of Atlas Resource Partners, L.P. (NYSE:ARP) in the latest round of 13F filings, with a reported value of $15.8 million. It is followed by Alec Litowitz and Ross Laser's Magnetar Capital, which holds some 188,000 shares, worth $3.9 million. Some other hedge fund revealed much smaller stakes in the company.

Cooperman, at the end of November, also revealed dumping some shares of Resource America Inc (NASDAQ:REXI). Mr. Cooperman sold some 377,800 shares for $3.5 million, reducing in this way his stake in the company to around 1.03 million shares.

In the equity portfolio of Omega Advisors, the largest holding is the $321.6 million position in SLM Corp (NASDAQ:SLM), which amasses over 12.9 million shares. On the second place is American International Group Inc (NYSE:AIG), in which Omega owns 5.8 million shares, with a reported value of $282.4 million. In Sirius XM Holdings Inc (NASDAQ:SIRI) Mr. Cooperman holds a $278.6 million stake, which contains around 71.9 million shares.

Disclosure: none

Recommended Reading:

Warren Buffett’s Latest Filing Reveals That He is Still Fond of DaVita HealthCare Partners Inc (DVA)

Hedge Fund News: Paul Singer, Carl Icahn & Marc Faber

Steven Cohen, SAC Reveal Boosting Their Holding in Move Inc. (MOVE)

 

Sign Up

Get the InvestingChannel
Free e-Letter Today

Learn More

Independent market opinion, analysis and ideas - delivered every business day

Premium market opinions, analysis, and ideas - delivered every business day

Editor's Picks