Bart Baum’s Ionic Capital Management is Bullish On Gencorp Inc (GY)
Bart Baum’s Ionic Capital Management boosted its stake in Gencorp Inc (NYSE:GY) to 5.07% of the company. Ionic Capital now holds 3.18 million shares of the company. The fund reported an ownership of 1.55 million shares of Gencorp Inc (NYSE:GY) in its 13F for the third quarter of 2013..
There are several other funds, which have been bullish about Gencorp Inc (NYSE:GY). Mario Gabelli’s Gamco Investors reported an ownership of 5.5 million shares in its latest 13F. Gamco Investors increased its position in the company by 125,900 shares during the last quarter of 2013. Warren Lichtenstein’s Steel Partners holds 4.18 million shares of the company as reported in the third quarter of 2013. The company insiders did not buy any shares in 2013. However, the insiders sold 19,601 shares at an average price of $16.33 per share.
Bart Baum founded Ionic Capital Management in 2006 with Dan Stone and Adam Radosti. The fund manages $2.9 billion in assets. The fund invests heavily in basic materials, technology, and financial services.
Gencorp Inc (NYSE:GY) operates as an industrial goods provider, and the company engages in manufacture and sale of aerospace, defense products and systems in the United States. The firm operates in two segments; Aerospace and Defense, and Real Estate. The firm’s Aerospace and Defense segment offers defense system products including liquid, solid, and air-breathing propulsion systems, components for applications in missile defense systems, maneuvering propulsion systems, precision war-fighting systems, and specialty metal products. The firm’s Real Estate segment offers re-zoning, entitlement, sale, and leasing services of the firm’s real estate assets. The firm was founded in 1915 and is headquartered in Rancho Cordova, California.