SAC Capital Starts Hyatt Hotels Position, Boosts Amarin Stake ~ market folly

Monday, March 26, 2012

SAC Capital Starts Hyatt Hotels Position, Boosts Amarin Stake

Steve Cohen's hedge fund firm SAC Capital just filed two separate 13G's with the SEC:

Hyatt Hotels (H)

First, the hedge fund disclosed it has initiated a brand new position in Hyatt Hotels (H) with 2,804,400 shares, which is a 6.2% ownership stake in the company. They did not own any shares at the end of 2011. They filed the disclosure today due to portfolio activity on March 14th when they crossed the regulatory threshold.

This is the second hotel/hospitality-related transaction for the hedge fund as SAC bought more Marriott Vacations (VAC) recently as well.

Per Google Finance, Hyatt is "a global hospitality company. The Company manages, franchises, owns and develops Hyatt-branded hotels, resorts and residential and vacation ownership properties globally."

Amarin Corp (AMRN)

Second, Cohen's firm has revealed it now owns a 4% ownership stake in AMRN with 5,415,392 shares. This is an increase of 57% in their position size since the end of 2011. The disclosure was filed today due to trading activity on March 14th.

Shares of AMRN jumped days after SAC boosted its position as the company received a new patent.

Google Finance, Amarin is "a clinical-stage biopharmaceutical company focused on developing improved treatments for cardiovascular disease. The Company’s development programs capitalize in the field of lipid science and the therapeutic benefits of essential fatty acids in cardiovascular disease. It is focusing its efforts on its candidate, AMR101, a prescription grade Omega-3 fatty acid, comprising not less than 96% ultra pure ethyl ester of eicosapentaenoic acid (ethyl-EPA)."

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