Jay Petschek and Steven Major's hedge fund firm recently sent out their second quarter letter and in it they include a pitch on SeaWorld (SEAS).
They see the investment as one with limited downside and an upside of at least $40 per share over the next year. Corsair feels the company has a great expansion opportunity ahead of it. They also feel that Blackstone will eventually sell its remaining 20% ownership stake which will remove an overhang on the stock.
You can read Corsair's full investment thesis on SeaWorld embedded below:
For more recent hedge fund letters we've also posted up Greenlight Capital's letter and Third Point's Q2 letter.
Thursday, July 31, 2014
Corsair Capital's Thesis on SeaWorld: Q2 Letter
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