Lee Cooperman Boosts Polycom Stake ~ market folly

Thursday, March 14, 2013

Lee Cooperman Boosts Polycom Stake

Lee Cooperman's hedge fund Omega Advisors just filed a 13G with the SEC regarding shares of Polycom (PLCM).  Per the filing, Omega has revealed a 5.43% ownership stake with 9,608,699 shares.

This marks a 70% increase in their position size since the end of 2012.  The 13G was required due to portfolio activity on March 6th.

Per Google Finance, Polycom is "a provider of unified communications (UC) solutions and a provider of telepresence, video, voice and infrastructure solutions based on open standards. With Polycom RealPresence video and voice solutions, from infrastructure to endpoints, people all over the world can collaborate face-to-face without being in the same physical location."

For more from this manager, Cooperman recently said the market is fairly valued and talked about some of his other positions.

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