Some bail but others increase their holdings
The Canadian online gambling group Amaya Inc. both attracted and repelled investors during the fourth quarter of 2015, recently published details from stock exchange records reveal.
Investment management group Echinus Advisors scooped up 1,118,300 additional shares in the company during the fourth quarter, bringing the fund's holdings to 2,408,800 shares – 12.41 percent of its portfolio – currently valued at $34.5 Million.
Other hedge funds, including Rubric Capital Management sold their stakes in Amaya. Rubric offloaded 850,000 shares valued at $12.2 Million, whilst Guardian Capital Lp added 1,662,512 Amaya shares valued at $23.8 Million.
Spark Investment Management added 19,400 Amaya company shares valued at $277,614.
Desjardins downgraded Amaya shares to "Hold" on March 23, 2016 amid mounting concerns around insider trading allegations levelled at Amaya CEO David Baazov and 16 associates by the Quebec securities.
Online Casino News Courtesy of Infopowa