Shares of hedge fund favorite Tenet Healthcare surged nearly 9 percent, to $20.77, on an otherwise down day for stocks. The hospital management company reported fourth-quarter revenues that easily beat expectations and delivered strong earnings guidance for 2018. At year-end, Larry Robbins’ Glenview Capital Management remained the largest shareholder, while Davidson Kempner Capital Management was the sixth-largest shareholder, according to regulatory filings.
Meanwhile, HCA, another hospital management company and Glenview’s largest U.S. long, gained 1.5 percent on Tuesday. Glenview is the company’s eighth-largest shareholder, according to filings.
___
Steven Cohen’s family office Point72 Asset Management disclosed in a fresh 13G filing that as of February 26 it owned roughly 2.4 million shares of Hyatt Hotels Corporation, or 5 percent of the total outstanding. Interestingly, it reported the same stake in its recently filed 13F filing covering U.S. equity holdings as of December 31, 2017.
___
Trian Fund Management trimmed long-time holding The Wendy’s Company, from 22.4 percent of the outstanding shares to 20.7 percent. The hedge fund firm’s co-founder Nelson Peltz remains chairman of the board of the fast-food giant, while Trian co-founder Peter May is vice chairman. Matthew Peltz, the son of Nelson, is also a director. He is a partner and senior analyst and a member of Trian’s investment team.
