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Dan Loeb's Third Point LLC sold 11M Yahoo (YHOO) shares on Thursday and Friday, supposedly to...

Dan Loeb's Third Point LLC sold 11M Yahoo (YHOO) shares on Thursday and Friday, supposedly to keep the firm's stake in the Internet media giant from growing on account of its $5B buyback plan. That leaves Third Point, which supported the buyback plan as well as the hiring of Marissa Mayer, with 62M shares, or a 5.3% stake based on Yahoo's diluted share count at the end of Q4. Yahoo spent $1.5B to repurchase ~80M shares in the quarter - did its 2H12 run-up influence Loeb's move? (previous)
Comments (5)
  • AZ Desert Trader
    , contributor
    Comments (232) | Send Message
     
    The Form 4 says Loeb/Third Point is at the director level. Why would they care about their share count?
    2 Feb 2013, 07:17 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4093) | Send Message
     
    This has been a great investment by a great investor.
    2 Feb 2013, 08:00 PM Reply Like
  • cibor
    , contributor
    Comments (10) | Send Message
     
    As I saw shares of Yahoo! tumble Thursday and Friday, the cynical side of me thought stock manipulation by major investments firms to depress the price, hoping others would SELL quickly to lower the price further, and then those same investment firms could snap up a quick profit. I'm glad to read nothing so nasty happened, but simply Loeb et al selling 11 million shares for a legitimate reason. I firmly agree if an investor does the math, and considers the reality of the Alibaba IPO and subsequent huge profits for Yahoo!, there should be no doubt this is a $26 stock before summer.
    2 Feb 2013, 11:46 PM Reply Like
  • Tom Guttenberger
    , contributor
    Comments (717) | Send Message
     
    YHOO has plenty of room on the upside still.
    2 Feb 2013, 10:47 PM Reply Like
  • 71324
    , contributor
    Comments (322) | Send Message
     
    FOX BREAKING NEWS: Dan Loeb sells investments to pay for Obama Care.
    2 Feb 2013, 11:10 PM Reply Like
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