Steven Cohen's SAC Capital Boosts Carter's (CRI) Stake ~ market folly

Monday, September 20, 2010

Steven Cohen's SAC Capital Boosts Carter's (CRI) Stake

Steven Cohen's hedge fund firm SAC Capital filed a 13G with the SEC regarding shares of Carter's (CRI). Due to portfolio activity on September 7th, the filing states that SAC Capital now has a 5.4% ownership stake in CRI with 3,212,093 shares. This figure includes 452,200 shares represented by call options. Overall, this is a massive increase as SAC has boosted its position size in Carter's by 21,684%. Back on June 30th, they only held 14,745 shares of the company.

In terms of other recent activity from Cohen's firm, we detailed their stake in Genco Shipping (GNK) as well. Remember that due to SAC's frequent trading, you can't necessarily read too much into these filings. As such, take it with a grain of salt since they move in and out of positions much quicker than other hedge funds. We simply cover their activity because readers want to know what good ole Stevie Cohen is up to.

Make sure to check out our coverage of Goldman Sachs' VIP list where we identify what stocks matter most to hedge funds.

Taken from Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh."

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