Second Curve Sells Some CompuCredit (CCRT)

Tom Brown's hedge fund Second Curve Capital filed a Form 4 with the SEC regarding transactions in shares of CompuCredit (CCRT). Per the filing, Second Curve sold 300,000 shares of CCRT, with 175k shares being exited at $7.01 on March 15th and 125k shares dumped at $6.80 per share on March 16th.

After these sales, the hedge fund reported holding 3,980,630 shares of CCRT. They've been gradually selling shares since 2011 started, down from 4,260,630 held at the end of 2010. Readers will recall that Second Curve was buying CCRT back around $4.94 in September of last year. Other more recent activity out of the hedge fund firm includes acquiring Mercantile Bank (MBWM) shares.

Per Google Finance, CompuCredit is "a provider of various credit and related financial services and products to or associated with the financially underserved consumer credit market. The Company has contracted with third-party financial institutions pursuant, to which the financial institutions have issued general purpose consumer credit cards, and it has purchased the receivables relating to such accounts on a daily basis."

Second Curve Capital Files Form 4 on CompuCredit (CCRT)

Tom Brown's hedge fund firm Second Curve Capital recently filed multiple Form 4's with the SEC regarding transactions in shares of CompuCredit (CCRT). These filings represent indirect ownership and were made by advisory clients of Second Curve. In total, Second Curve reported acquisition of 81,000 shares during the last 10 days of December.

Second Curve acquired their shares through various lots ranging in price from $6.59 to $6.95. Shares of CCRT are currently trading around $6.72. After all purchases were made, they owned 4,260,630 shares of CompuCredit. We noted Second Curve reported transactions in CCRT back in September as well.

Also, in a separately filed Form 4, advisory clients of Second Curve Capital have purchased 29,000 shares of Tennessee Commerce Bancorp (TNCC). The purchases were made in the last three days of December in various lots at prices of $4.84, $4.82, and $4.91. After all was said and done, Second Curve reported owning 1,271,456 shares of TNCC. We detailed Second Curve's recent addition of TNCC shares and this marks a subsequent recent purchase after originally purchasing shares in August.

Per Google Finance, Tennessee Commerce Bancorp is "a bank holding company formed to own the shares of Tennessee Commerce Bank (the Bank). The Bank conducts business from a single location in the Cool Springs commercial area of Franklin. As of December 31, 2009, the Bank had total assets of $1.4 billion. The Bank offers a range of retail and commercial banking services."

CompuCredit is "a provider of various credit and related financial services and products to or associated with the financially underserved consumer credit market."

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Hedge Fund Second Curve Capital Acquires More CompuCredit (CCRT)

Tom Brown's hedge fund Second Curve Capital has purchased shares of CompuCredit (CCRT) for the second time within a week. Per a SEC Form 4, Brown's firm bought 15,000 shares of CCRT at a price of $4.94 on September 22nd, 2010. After this buy, their total CompuCredit position encompasses 4,133,630 shares. This comes after we detailed Brown's previous CCRT purchases.

Taken from Google Finance, CompuCredit is "a provider of various credit and related financial services and products to or associated with the financially underserved consumer credit market."

To see what the top managers have been buying and selling, check out our detailed hedge fund portfolios.

Tom Brown's Second Curve Buys CompuCredit (CCRT) Shares

Tom Brown's hedge fund firm Second Curve Capital just filed a Form 4 with the SEC regarding trades made in shares of CompuCredit Holdings (CCRT). In the filing, Second Curve discloses that they purchased 25,000 shares of CCRT at $4.64 on September 16th, 2010. After this transaction, Tom Brown's firm now owns 4,118,630 shares.

Second Curve recently filed a 13G on this stock, disclosing ownership of 11.4% of the company. This latest purchase adds to that total. Prior to founding Second Curve, Brown headed up the financial services group at Julian Robertson's Tiger Management. Other recent portfolio activity out of this hedge fund includes a new position in Tennessee Commerce Bancorp (TNCC).

Taken from Google Finance, CompuCredit is "a provider of various credit and related financial services and products to or associated with the financially underserved consumer credit market."

To see what the top managers have been buying and selling, check out our detailed hedge fund portfolios.

Second Curve Capital Buys More CompuCredit (CCRT)

Thomas Brown's hedge fund Second Curve Capital recently filed an amended 13G with the SEC regarding their position in CompuCredit (CCRT). In it, we see that Second Curve has disclosed a 11.4% stake in the company with 4,093,630 shares. This marks an increase of 10.3% in their position size because back on June 30th they owned 3,710,543 shares.

We also covered some other recent portfolio activity out of Tom Brown's firm when we saw that Second Curve started a position in Tennessee Commerce Bancorp (TNCC). Brown's focus is primarily on financial stocks and he was painfully early on his bullish call on the financials during the recent crisis and it cost him dearly at the time. Before he founded Second Curve he was in charge of the financial services group at Julian Robertson's Tiger Management.

Taken from Google Finance, CompuCredit is "a provider of various credit and related financial services and products to or associated with the financially underserved consumer credit market."

To view the latest buys and sells from top managers, head to our coverage of hedge fund portfolios.

Tom Brown's Hedge Fund Second Curve Capital Updates Positions

In a recent 13G filed with the SEC, Tom Brown's hedge fund firm Second Curve Capital has updated their stake in CompuCredit Holdings (CCRT). Due to activity on March 18th, 2010, Second Curve now shows a 5.3% ownership stake in the company with 2,512,730 shares.

This means they've increased their position by 41.85% by adding 741,341 more shares over the past three months. Back on December 31st, 2009, Brown's hedge fund owned 1,771,389 shares as we noted when we covered Second Curve's portfolio.

Additionally, Second Curve has filed a pair of Form 4's with the SEC in regards to shares of Taylor Capital Group (TAYC). Keep in mind that these two transactions represent indirect ownership for Second Curve. As noted on the filings, the nature of this indirect ownership is "By advisory clients of Second Curve Capital, LLC." On February 26th, 2010, it shows they acquired 10,000 shares of TAYC at a price of $11.03. Additionally, on March 12th, 2010, they acquired an additional 15,000 shares at a price of $11.35.

This brings their total ownership up to 1,320,191 shares of Taylor Capital Group. It represents an increase in the size of their position by 22.96% as they've added 246,580 shares over the course of the past three months. You can view the rest of Second Curve's investments here.

Taken from Google Finance, CompuCredit Holdings is "a provider of various credit and related financial services and products to or associated with the financially underserved consumer credit market."

Taylor Capital Group "serves as the holding company for Cole Taylor Bank, primarily engaged in commercial banking. The Bank provides a range of products and services primarily to closely-held commercial customers and their owner operators in the Chicago metropolitan area."

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