Larry Robbins (Trades, Portfolio)'s firm has revealed a new buy into HighCape Capital Acquisition Corp. (CAPA, Financial) according to GuruFocus' Real-Time Picks, a Premium feature.
Founded in 2000, Glenview Capital Management operates as a privately held investment firm. It is focused on delivering attractive absolute returns through an intense focus on deep fundamental research and individual security selection. The firm's investments are primarily focused on the U.S., with a smaller amount of exposure in western Europe.
On March 8, the firm purchased 1.03 million shares of the company to establish a new holding within their portfolio. On the day of the transaction, the shares traded at an average price of $12.08 per share. Overall, the purchase had a 0.29% impact on the portfolio and GuruFocus estimates the holding has already gained 8.03% since it was acquired.
HighCape Capital Acquisition Corp. (CAPA, Financial) is a blank check company with the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company's strategy focuses on identifying and acquiring companies to build a life sciences or life sciences related business.
On March 16, the stock was trading at $13 per share with a market cap of $193.62. There is not enough data for a Peter Lynch chart or GF Value Line, but the company saw a large jump in share price after its merger with Quantum-Si was announced.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rank of 1 out of 10. There are currently no severe warning signs listed for the company. Robbins' firm is currently the only shareholder listed with 6.99% of shares outstanding.
Portfolio overview
At the end of the fourth quarter, Glenview's portfolio contained 56 stocks, with 11 new holdings. It was valued at $4.36 billion and has seen a turnover rate of 15%. The top holdings are Tenet Healthcare Corp. (THC, Financial), Bausch Health Companies Inc. (BHC, Financial), Takeda Pharmaceutical Co. Ltd. (TAK, Financial), Cigna Corp. (CI, Financial) and DXC Technology Co. (DXC, Financial).
By weight, the top represented sectors are health care (69.57%), technology (12.08%) and basic materials (5.01%).
Disclosure: Author owns no stocks mentioned.
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