After hospital operator HCA Holdings went public at $30 a share
in March 2011 in a $3.5 billion offering, hedge funds pounced -
and they kept piling on throughout the following months. Eton
Park Capital Management, Viking Global Investors, Valinor
Management and Alyeska Investment Group were among the funds
that bought large stakes.
by Edel Rodriguez
Their timing was off - HCA's stock rose as high as $35.24 in
early June, only to plunge by 19 percent in one day and
continue dropping to less than $18 a share following a
disappointing second-quarter earnings report. But since then
the Nashville-based company has become a favorite value play
among hedge funds, which had increased their bets in HCA by
more than 50 percent by the end of third quarter 2011,
according to Ian Dogan, CEO of the web site Insider Monkey,
which tracks hedge fund holdings. As of...