What’s Behind The Recent Surge In EveryWare Global (EVRY)?
Billionaires Portfolio: Everyware Global Inc (NASDAQ:EVRY) popped more than 20% yesterday after the company reached a deal with its labor workers that will help the company reduce its future operating costs.
Most importantly, the company last week saved itself from bankruptcy by reaching an agreement with its lenders that will allow it to stay in business for at least the remainder of the year.
Two months ago the stock traded for $.67 cents. It is now up nearly 500% from that level.
EVRY is owned by the billionaire activist hedge fund The Clinton Group. The Clinton Group, one of the top small cap activist hedge funds in the world, owns almost 16% of the company.
Make no mistake, the influence of the Clinton Group is a driving factor behind the positive financial development in this stock. And that has led to it’s sharp recovery. For shareholders, this is the benefit of having a powerful shareholder on your side, constantly working to create value in a stock.
Please don’t miss the opportunity to learn more about me and how we follow Billionaire Investors into stocks by visiting the Billionaires Portfolio.
The insider behind the Billionaire’s Portfolio is William Meade. William started his career with Wood Asset Management. Wood Asset Management was a $1.5 billion dollar institutional asset management firm and hedge fund, founded by Gary Wood, a former Goldman Sachs Partner and Harvard MBA. At Wood, William helped manage equity and fixed income portfolios for major university endowments, Fortune 500 pension funds and super high net worth clients (including 2 billionaire families).
Next, William was Director of ETF and Mutual Fund Research for Zacks Investment Research in Chicago. At Zacks, he worked with the founder Len Zacks, a PHD from MIT, in developing and maintaining a proprietary model that ranked over 20,000 ETFs and mutual funds. This model was viewed and used by over 150,000 people monthly, and was published in US News and World Report, and featured on CNN, Yahoo Finance, and Fortune.com.
William received a Masters in Economics from Johns Hopkins University, including PhD level coursework in International Economics. At Johns Hopkins, Mr. Meade was taught by Economists from The Federal Reserve and Department of Treasury. While at Johns Hopkins Mr.Meade consulted for a top hedge fund in Washington DC.