Market Folly's Back, New Steve Cohen Positions, etc

You may not have noticed but toward the end of last year my friend Jay at Market Folly went quiet for a little while.  I noticed because he’s been one of my favorite bloggers since before I started blogging myself.  I started getting the feedreader emails again and I’m really glad that Market Folly is back.  No one keeps you updated on the latest buys and sells of the big boys like MF does, period.

For example, did you know that SAC’s Steve Cohen has been loading up on American Eagle Outfitters ($AEO) of late?  It’s a cheap stock but it’s always been a cheap stock.  What’s going on?

Steve Cohen’s hedge fund SAC Capital filed two 13G’s with the SEC regarding transactions in American Eagle Outfitters (AEO) and Peet’s Coffee & Tea (PEET) this month.

American Eagle Outfitters (AEO)

Per their 13G filing, SAC increased its position size by 1056% since the close of the third quarter. SAC Capital now owns 9,418,880 shares of AEO, or 4.9% of the company.

This is up massively from the 814,560 shares they owned at the end of Q3. This 13G filing was triggered due to activity on January 18th.

Cohen is also stocking up on Peet’s Coffee & Tea ($PEET), a red-hot name with none of the $GMCR drama attached to it.  Head over to Market Folly for that purchase and more.

Welcome back, Jay!

Source:

Steve Cohen’s SAC Capital Boosts Positions in American Eagle Outfitters (AEO) & Peet’s Coffee (PEET): 13G Filings (Market Folly)