Yahoo! Inc. (NASDAQ:YHOO) has gathered its share of headlines over the last few days, recognizing the changes and transformations that the company has undergone in the year since former Google Inc (NASDAQ:GOOG) executive Marissa Mayer took over as CEO. The company has been aggressive in picking up some opportunities in social media – highlighted by the $1 billion purchase of Tumblr – and expanding its services while improving its marketing and growing its mobile presence. That has ultimately been the largest development that has made the biggest difference in the company’s visibility.

Yahoo! woohoo?

While Yahoo! Inc. (NASDAQ:YHOO) has made tremendous progress in mobile – something that has been a struggle for tech compatriots like Facebook Inc (NASDAQ:FB), at least in terms of monetization – and some are celebrating Mayer’s progress after a year at the helm, but now it’s time for analysts to ask, what does the company’s growth trajectory look like?

A couple of analysts – Scott Kessler of S&P Capital IQ and Roger Cheng, executive editor of CNET News – debated the prospects for Yahoo! Inc. (NASDAQ:YHOO) for the short- and long-term future during a recent segment on CNBC.

“This stock has done tremendously well, as a lot of people will undoubtedly know,” Kessler said. “It’s up more than 80 percent year-to-date, and about 130 percent since Marissa Mayer took over as CEO. But the reality is that, in our view, this largely reflects the significant stake in Alibaba Group (which is due to hold an IPO in the coming weeks), as well as large buyback activity in the last number of years. Growth has been lacking and difficult to find, especially on a consistent basis. As of now, though, Yahoo is not a growth story.”

“There has definitely been a Marissa Mayer effect,” Cheng said about Yahoo! Inc. (NASDAQ:YTHOO). “She has been busy transforming the company. What we’re seeing right now is Yahoo! make the shift from a simple search company to more of an entertainment company. She wants to entertain, be more mobile. She has bought 23 companies in the past year, and she is positioning the company for growth. Whether that growth will ever come, of course, is still unclear.”

See the entire segment about Yahoo! Inc. (NASDAQ:YHOO) and the analysis by Kessler and Cheng below.

Rangeley Capital has raised its position in Ocean Shore Holding Co (NASDAQ:OSHC), now holding 7.7% of the company’s outstanding common stock, versus 7.0% held earlier. The aggregate amount of shares held by Rangeley has went up to 539,500, from 486,500 revealed in an earlier filing.

Since the position held by Rangeley is an activist one by nature, the firm clearly intends to get involved in the company’s activity and management. Rangeley is specialized in the analysis of securities and investment activities. As it is stated in the filing, the firm has been analyzing Ocean Shore as well. It has also revealed that Rangeley has sent a letter to Ocean Shore’s board in which it stated that the Board of the company must initiate a strategic review of the company and come up with some actions meant to increase the value for shareholders. One of the solutions which the Board should consider is the sale of the company.

In the letter, Chris DeMuth Jr., the manager of Rangeley Capital, stated that they have been long-term investors in Ocean Shore, holding the position since the company was converted from a mutual fund in 2009. Since the company is no longer under the moratorium on corporate actions, which expires three years after the conversion of the company, and taking into account the strong situation of Ocean Shore regarding its overcapitalization and loan portfolio, Rangeley believes that “ it is an ideal time to undertake a strategic review of potential avenues to maximize value for Ocean Shore’s owners.”

To maximize value, the Board of Directors should consider the possibility of a sale.  Ocean Shore continues to trade close to tangible book value, a lower multiple than its peers.  Even using conservative price estimates, a strategic buyer would likely pay a substantial premium to acquire the company today, the letter also said. 

Chanos takes on Buffett, calls Exxon and fellow oil majors a 'value trap' (MarketWatch)
When the “Oracle of Omaha” talks, people listen, which is why the oil sector and Exxon Mobil Corporation (NYSE:XOM) -0.02% got lots of attention after regulatory filings revealed Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK.A) had taken a major stake in the company. While Buffett's move on Exxon looked to some like a contrarian call, legendary short seller Jim Chanos was positively growling over the oil sector Tuesday, telling the Reuters Global Investment Outlook Summit that his Kynikos Associates fund is bearish on national oil companies and the integrated majors, in New York on Tuesday. …Commenting directly on that Berkshire BRK.A -0.08% BRK.B +0.06% stake, Chanos said Buffett likely has "his reasons, but, unmistakably the returns are dropping":

Hedge fund expert: Bermuda gets regulation balance right (RoyalGazette)
The head of a hedge funds watchdog yesterday said Bermuda had hit the right balance on business regulation. Dame Amelia Fawcett, chairman of the London-based Hedge Fund, Standards Board (HFSB), said a global move towards tough regulations might not always be the best way of policing high finance — and that too many rules could end up damaging the sector and slowing the recovery from the global recession. But Dame Amelia added: "Bermuda is getting it right. It's not that it's a light-touch environment — it's sensible." And she added: "If people don't think you're doing a good job, you hear about it."

U.S. Bancorp Fund Services, LLC Acquires Quintillion Limited (HeraldOnline)
U.S. Bancorp Fund Services, LLC, a subsidiary of U.S. Bancorp (NYSE:USB), announced it has agreed to acquire Quintillion Limited (Quintillion), an Ireland domiciled full-service hedge fund administrator. The announcement supports U.S. Bancorp Fund Services' strategic initiative to expand its alternative investment servicing network supporting the European investment community. "This acquisition continues to showcase the long-term commitment of U.S. Bancorp to grow our securities services business," said Terrance Dolan, vice chairman of U.S. Bancorp Wealth Management & Securities Services.

From Hedge Fund to Family Office (Forbes)
Some hedge fund managers have transformed their hedge funds into family offices. This year Melissa Ko's Covepoint Capital and William Collins' Brencourt Advisors have made the transition. Some more notable names such as George Soros, Carl Icahn and Stanley Druckenmiller have also converted their hedge funds into family offices. And, Steve Cohen may very well be doing the same with SAC. There are a number of reasons for this and one that's at the top of the list is the increasing regulatory environment. According to Richard Flynn, principal, the Rothstein Kass Family Office Group, "Unlike hedge funds, family offices don't need to register as investment advisers with the US Securities and Exchange Commission.

Anthony Hilton: Now's a good time to embrace hedgies (Standard)
The past five years have been dire for hedge funds and particularly those which make big bets on market directions — be it in commodities or currencies. The HFRI macro hedge-fund index has dropped 15.5%. Over the same period global stock markets as measured by the MSCI World Index have gained 57.2%. Yet this month Goldman Sachs Group, Inc. (NYSE:GS) announced the launch of Petershill II. This is — or will be — a fund which invests in hedge-fund managers as distinct from the funds they manage.

Eton Park partners set to depart hedge fund (eFinancialNews)
The departing partners, who are expected to leave by early 2014, are Isaac Corré, an original partner who has been at the firm since it launched in 2004, and Josh Astrof who joined in 2005, the people said. Corré was responsible for event-driven investing, while Astrof focused on investing in stocks. It was unclear on Tuesday why they plan to leave and what they intend to do next. A spokesman for New York-based Eton Park declined to comment. Mindich launched Eton Park in 2004 with more than $3 billion, making it one of the largest-ever launches in the hedge fund industry, despite stringent terms for investors.

Dell CEO: Icahn ‘had no long-term intentions’ (CNBC)

According to SEC Form 4 filings, USA Synthetic Fuel Corp (OTC:USFC) experienced a great deal of insider trading on November 18^th and 19^th. Individuals in top positions apparently regained their faith in company, as they rushed to acquire stock.

The details

Director Bradley J. Davis purchased 10,000 shares of common stock, through a series of transactions, at prices ranging from $1.2 to $1.5 per share. In total, Mr. Davis spent around $12,776 on the purchase, and brought his total position in the company up to 231,990 shares. This represents a total value of $347,985 at current share prices (at $1.5 per share, as of Oct. 20, 12:05 pm EST). Despite the insider trade, the stock is still trading rather near to its 52-week low of $0.13.

Chief Financial Officer of USA Synthetic Fuel Corp, Willard Daniel Dixon, was also involved in the insider trading, purchasing 8,105 shares of common stock on Oct. 18^th. This brings the Officer's holdings to 28,105 shares, valued at approximately $42,157. The transaction took place at a time when shares were trading between $1.70 and $1.75 per share, meaning Mr Dixon has already made a considerable loss with his acquisition.

The Executive Chairman, Hammond Harvey Graves, was a bit more conservative, yet also followed in his collegues footsteps, acquiring 6,366 shares of common stock, for around $13,499. The Chairman purchased these shares in three transactions, at values ranging from $1.65 to $2.50 per share, bring his total holdings to approximately $42,396,564 at current values. Graves is a huge shareholder, with 28,264,376 shares, and was surely not happy with the drop in prices following the insider trade. With shares now trading far behind their 52-week-high of $5 per share, insiders are trying their best to show confidence in the USA Synthetic Fuel Corp's future.

The reasons

There is much speculation as to why the company saw such an increase in insider trading during these two days. The latest news to come from the company, was Lima Energy's 10-year ultra clean synthetic crude contract, yet that was back in October. A subsidiary of USA Synthetic Fuel Corp was contracted to supply up to 80 million barrels of oil equivalent of its synthetic counterpart, Husky Energy’s Lima Refinery over a period of ten years. The only other positive news which might have inspired this insider activity, is the company's earnings. The firm has finally posted positive results, and might be expecting to continue on its current upwards trajectory.

Disclosure: none

Recommended Reading:

Omnitek Engineering Corp Is Grasping for Breath while Tumbling Down

Why Are Insiders Loving These Small-Cap Advertising Companies

If Insiders Won't Buy OCZ, Why Should You?

Richard Lashley’s PL Capital has disclosed, in a newly amended filing with the Securities and Exchange Commission, that it intends to nominate a person to be elected as a board member of Alliance Bancorp Inc of Pennsylvania (NASDAQ:ALLB). According to the letter send by PL Capital to the company, the firm has nominated Mr. Howard Henick, whose candidature will be put to vote to the shareholders of Alliance Bancorp of Pennsylvania at the next meeting in 2014.

Aside from that, PL Capital edged down its holding in the company, according to the filing. The firm currently holds around 438,500 shares, versus reporting above 493,500 shares in its latest 13F. The position entitles Lashley and PL to ownership of 9.0% of the company’s common stock.

PL Capital, founded in 1995, is an investment management and advisory firm, which invests mainly in banks, especially in small- and mid-sized banks and financial companies.

Alliance Bancorp of Pennsylvania posted a net income of $533,000 in the third quarter, this equals to $0.11 per share, and is lower in comparison with $640,000 reported for the same period of last year. The decline in revenue came on the back of a fall in net interest income, which lost 1.4% on the year to $3.6 million, and other income declined by 43% to $179,000.

At the end of September, the company completed a stock repurchase plan, and its board approved another one, under the terms of which, Alliance Bancorp of Pennsylvania plans to buy back at most 10% of its common stock.

According to our records, Ryan Heslop and Ariel Warszawski‘s Firefly Value Partners also holds a significant position in Alliance Bancorp of Pennsylvania, which amasses over 497,000 shares. Chuck Royce‘s Royce & Associates owns a much smaller stake, which contains around 41,300 shares.

Disclosure: none

Recommended Reading:

Marc Lasry, Avenue Capital Dump Some Houghton Mifflin Harcourt Shares

Tiger Global Continues Selling TAL Education

Cetus Capital II Reports New Position in Luxfer Holdings

In a recent Form 4 filed with the Securities and Exchange Commission, Marc Lasry, the manager of Avenue capital, has revealed the disposal of  more than 2.0 million shares of Houghton Mifflin Harcourt Co. (NASDAQ:HMHC). The securities have been sold in seven transactions at a price of $12 per share. Following the deals, Avenue holds over 11.5 million shares of the company.

Anchorage Advisors, led by Kevin Michael Ulrich, has recently disclosed the acquisition of Houghton Mifflin Harcourt shares. The fund bought a little over 17K shares at $14 apiece, increasing their total holding of the stock to 17.5 million shares.

Houghton Mifflin Harcourt provides education solutions for consumers worldwide. The company went public on November 14, 2013 with an initial price of $12, lower than the expected range of $14-$16 apiece. A little under 21 million shares were offered, including over-allotment options for the underwriters on 2.7 million shares. The company has not received any proceedings from the Initial Public Offering (IPO), since the shares were sold by existing shareholders, the largest stake being held by John Paulson‘s mega hedge fund Paulson & Co.

Marc Lasry and his fund Avenue Capital employ a mix of strategies in their pursuit of profits from distressed and undervalued debt and equity opportunities. The fund manages $785 million worth of equity and is heavily invested in stocks like Magnachip Semiconductor Corp (NYSE:MX), a position worth $88 million, CIT Group Inc. (NYSE:CIT), a stake valued at $75 million, and Scorpio Tankers Inc. (NYSE:STNG), with the holding reportedly worth $71 million.

Disclosure: none

Recommended reading:

Tiger Global Continues Selling TAL Education

Cetus Capital II Reports New Position in Luxfer Holdings

Eric Bannasch, Cadian Capital Add to Position in Green Plains Renewable Energy

Tiger Global Management, run by Chase Coleman, has been reducing its exposure to TAL Education Group (ADR) (NYSE:XRS). In a recent filing with the Securities and Exchange Commission, Tiger Global reported cutting it’s stake in TAL Education by 24%,  from 8.3 million to 6.3 million shares. The new position is equivalent to 9.2% of TAL’s common stock.

Brian Taylor‘s Pine River Capital Management is in the same boat with Tiger Global. Pine River has reduced its holding of TAL shares by more than 50%, currently holding 24,000 shares with a reported value of $348,000. Robert Karr‘s Joho Capital is also heavily invested in the TAL Education Group. In the latest 13F filing the fund reported ownership of 2.7 million shares valued at a little under $40 million. The fund has not made any changes to their position during the third quarter of 2013. A hedge fund that is actually bullish on this stock is Renaissance Technologies managed by Jim Simons.  They have increased their stake in the TAL Education Group by 29% and have reported in the latest 13F filing the ownership of 337K shares worth $4.8 million.

The TAL Education Group’s stock has been in an uptrend sine May of this year, rising by 121%. Shares are currently trading at a price of $19.81 and have a trailing Price to Earnings (P/E) ratio of 35.42. The stock has a beta of 0.99 and pays a dividend of $0.5 per share, which represents a yield of 2.5%. On October 22, TAL announced the financial results for the second quarter ended August 31, 2013. Net income registered a year-over-year increase by 35.1% to $92 million. The company also posted earnings per diluted share of $0.29. The stock is highly regarded by market analysts, who are recommending it mainly as a Buy and Strong Buy.

Disclosure: none

Recommended reading:

Cetus Capital II Reports New Position in Luxfer Holdings

Eric Bannasch, Cadian Capital Add to Position in Green Plains Renewable Energy

Barry Rosenstein, Jana Partners Cut Their Stake in Oil States International

Cetus Capital II, LLC has reported opening a position in Luxfer Holdings PLC (ADR) (NYSE:LXFR). In a recent filing with the Securities and Exchange Commission, Cetus Capital revealed the acquisition of 874,133 shares, which represent 6.5% of Luxfer Holdings’s common stock .

Another hedge fund that likes Luxfer Holdings is Marathon Asset Management, run by Bruce J. Richards and Louis Hanover. In the latest 13F filing with the SEC, Marathon also disclosed a new position in Luxfer Holdings. The fund acquired 2.1 million shares with a reported value of $31.7 million. Jonathan Savitz‘s Greywolf Capital Management is also confident in the financial performance of Luxfer, having reported in the most recent 13F filing no change to the fund’s investment in the company. Greywolf Capital holds 1.3 million shares with reportedly worth $21.5 million. Eric Edidin and Josh Lobel‘s Archer Capital Management have also taken their chances and opened a new position. The fund reported owning 751K shares valued at a little over $12 million.

A manufacturer of gas containment cylinders, Luxfer Holdings’ shares have been in an uptrend, rising 42 % in 2013 to a current price of $17.9. The stock has a trailing Price to Earnings (P/E) ratio of 12.82 and pays a dividend of $0.4 per share, which represents a yield of 2.2%. The company recently announced financial results for the third quarter of 2013. Luxfer Holdings registered net revenues of $9.3 million, a 7.9% year over year decline, and earnings per American Depositary Share of $0.33 failing to meet the expected $0.35 per share. Nevertheless, the stock is still highly regarded by analysts, who recommend it mainly as a Strong Buy. The share prices are expected to rise, with experts having set a mean target of $20.25.

Disclosure: none

Recommended reading:

Eric Bannasch, Cadian Capital Add to Position in Green Plains Renewable Energy

Barry Rosenstein, Jana Partners Cut Their Stake in Oil States International

Starboard Value, Elliott Associates Sell Shares of Emulex Corporation

Cadian Capital, managed by Eric Bannasch, is betting big on Green Plains Renewable Energy Inc. (NASDAQ:GPRE). The fund has revealed, in a recent filing with the Securities and Exchange Commission, an addition to their holding of Green Plains stock. Cadian has increased the number of shares owned to 3.8 million, representing 12.55% of the company’s common stock. Prior to that the fund held a little over 1.5 million shares.

Another fund that is particularly bullish on this stock is Aqr Capital Management, run by Cliff Asness. In their most recent 13F filing, the fund reported ownership of 600K shares valued at $9.6 million. During the third quarter of 2013,  Asness increased the investment in Green Plains Renewable Energy by 68%. In the mean time, Ken Griffin‘s Citadel Investment Group has been reducing their position in the company by 57%. In their latest 13F filing, Citadel revealed ownership of 137K shares, reportedly worth $2.2 million.

Green Plains Renewable Energy engages in the production and distribution of ethanol in the United States. Company shares have been in an uptrend in 2013, rising 90% to a current price of $15.28. Shares have a trailing Price to Earnings (P/E) ratio of 10.02 and a beta of 1.33. Earlier this year the company instated a quarterly dividend of $0.04 per share. For the third quarter of 2013, Green Plains reported revenues of $757 million and earnings per diluted share (EPS) of $0.28. Market participants expect the company to increase their revenues to $795 million and earnings to $0.39 per share in the current quarter. The stock price is expected to further rise, with a mean target of $19.58.

Disclosure: none

Recommended reading:

Barry Rosenstein, Jana Partners Cut Their Stake in Oil States International

Starboard Value, Elliott Associates Sell Shares of Emulex Corporation

Jeffrey Jacobs Change His Mind Regarding MTR Gaming Group – Eldorado Resorts Merger

On Tuesday, November 19, Janice M. Quigley, Vice President at Omnitek Engineering Corp. (OTC:OMTK), purchased 10,000 shares of common stock at $0.525 each, with the use of a stock option for a total transaction worth $5,250. Ms. Quigley now holds a total of 175,000 shares of common stock under his direct control, for a total value of $455,000 (as of November 19, 2013 03:22 PM ET).

The timing of the purchase is not accidental since stock face value has been on a steep decline since November 12^th. So far, the stock price has lost a total of $0.34 from a high of $2.9, representing a 12% loss on face value. At around 11 AM ET, the trading volume of the stock reached 61,000 shares of common stock and face value responded positively.

The upswing comes as good news for management, since last Thursday's quarterly report announced the impact of lower foreign sales due, in part, to the appreciation of the US dollar, as well as inventory build up to support the anticipated ramp up of domestic diesel engine conversion-to-natural gas kit sales in the current fourth quarter, was unable to revert the trend.

“Notwithstanding the impact of the aforementioned items impacting the quarter and nine-month period, sales in the current fourth quarter are expected to begin to reflect long-awaited domestic contributions. Our optimism is supported by expressing strong interest from large domestic trucking fleet operators and a commitment to convert from diesel fuel to natural gas engines,” said Werner Funk, president and chief executive officer of the Omnitek Engineering Corporation.

What is more important, the announcement of John M. Palumbo to serve on the company’s board of directors and as chairman of its audit committee did not have a positive impact on stock value either. That same day, October 31^st, the stock tumbled $0.10, leaving clear evidence of the lack of confidence on the firm's prospects from the market. In line, it is worth noting that Ms. Quigley's transaction is the first registered under her name and the fourth insider purchase registered by Engineering Corp. this year.

Disclosure: None

Recommended Reading:

Why Are Insiders Loving These Small-Cap Advertising Companies

If Insiders Won't Buy OCZ, Why Should You?

Why Are Insiders Betting on Basic Materials?

Jana Partners, managed by Barry Rosenstein has reduced its position in Oil States International, Inc. (NYSE:OIS). According to a filing with the Securities and Exchange Commission the fund sold over 223,000 shares, currently owning around 6.2 million shares. The stock has been sold in six transactions, the average price amounting to $106.38 per share. The total value of the deals amounts to $23.7 million.

The stock held currently by Jana in Oil States is still higher than reported in its latest 13F. At the end of the third quarter, the fund disclosed holding 5.5 million shares of the company, the holding being one of the largest in its equity portfolio.

Oil States International returned over 40% in terms of stock price since the beginning of the year. The stock trails a solid P/E of 16.2.

The company is currently conducting the spin-off of its Accomodations segment, recently naming Bradley Dodson to serve as the CEO of the Accomodations. The spin-off is expected to increase the shareholder value for Oil States, since its position is well established strategically and is capable to act as a separate entity. Following the separation, Oil States will be responsible for operating other two important business segments: offshore products and services on well sites. Accomodations will be responsible for services on well site as well, and will be engaged in provision of accommodations for workforce like housing.

A couple of days ago, Jana Partners reported about increasing its position in QEP Resources Inc (NYSE:QEP), another company in the oil industry. The fund currently holds over 13.5 million shares of the company, equal to 7.6% of the outstanding stock. Aside from that, Jana is going activist on QEP Resources and currently is negotiating a plan that will allow the company to increase its shareholder value. Among other things, Barry Rosenstein’s fund insists that QEP Resources should separate its midstream business.

Disclosure: none

Recommended Reading:

Starboard Value, Elliott Associates Sell Shares of Emulex Corporation

Zac Hirzel, Hirzel Capital Management Go Activist on Aeropostale

Privet Fund Reports Upping Position in StarTek

Emulex Corporation (NYSE:ELX), a company engaged in providing network connectivity and management solutions, has been in the middle of some important moves coming from some of its investors. Two hedge funds, Starboard Value, and Elliott Associates  recently filed amended forms with the Securities and Exchange Commission, reporting decreasing slightly their positions in the company.

Jeffrey Smith‘s hedge fund, Starboard Value disclosed recently cutting its position to around 4.1 million shares. This is already the second decline that Starboard is applying towards its holding in Emulex. Last week, the fund reduced its stake to 5.34 million shares, from 7.25 million held earlier. The position held currently by Starboard amasses 4.4% of the company’s common stock, down from 5.8%. Jeff Smith’s fund also revealed a purchase agreement signed with Emulex, under the terms of which the fund agrees to sell 600,000 shares of the company back to Emulex for an aggregate price of $4.7 million.

Last week, Starboard also sent a letter to Emulex’s board, in which it stated that the company is very undervalued and has a lot of potential to increase the shareholder value.

In a separate filing, Paul Singer‘s fund Elliott Associates reported that it now holds around 7.5 million shares of Emulex, down from over 8.9 million held according to an earlier filing. At the same time, the fund switched the nature of the position and now it’s stake in the company is a passive one. In an earlier filing, Elliott disclosed an agreement with the company’s board, under the terms of which, the Emulex shareholders will elect a new Board at their next meeting. Also, the current Board will reduce its number to comprise at most 11 members.

Amid the moves by Starboard and Elliott, the stock of Emulex closed yesterday by almost 4% in red. The stock of Emulex lost over 7% over the past month.

Disclosure: none

Recommended Reading:

Zac Hirzel, Hirzel Capital Management Go Activist on Aeropostale

Privet Fund Reports Upping Position in StarTek

Jeffrey Jacobs Change His Mind Regarding MTR Gaming Group – Eldorado Resorts Merger