Park West Asset Management LLC is an employee owned hedge fund that provides its services to foundations, high net worth individuals, institutional investors, financially complex individuals, among other entities. The firm focuses its investments on public equity and fixed income markets. Macquarie Infrastructure Company LLC (NYSE:MIC), Shutterfly, Inc. (NASDAQ:SFLY), and Bristow Group Inc (NYSE:BRS) emerged as the top three holdings of Park West Asset Management LLC, according to the SEC 13F filings of the firm for the quarter ended September 30, 2014.
Macquarie Infrastructure Company LLC (NYSE:MIC) was top of the investments of Park West Asset Management LLC, with its total investment valued at $55.16 million. Macquarie Infrastructure Company LLC (NYSE:MIC) is a company that invests in diversified categories of infrastructure businesses while at the same time offering investors a chance to be part of the ownership of such businesses. Msdc Management held the highest number of shares of the company with 4.05 million shares. The second firm in terms of total shares held was Marcato Capital Management, which came closely with 3.87 million shares. (You can see complete list of hedge funds which hold positions on Macquarie Infrastructure Company LLC (NYSE:MIC) at the end of third quarter.)
Shutterfly, Inc. (NASDAQ:SFLY) came second with investment worth $43.74 million. Shutterfly, Inc. (NASDAQ:SFLY) is a family of brands that are meant to help people share their moments in life. The company offers a variety of products and services that include photo sharing and printing services. The company performed dismally in its third quarter 2014 results that missed Wall Street’s expectations. The third quarter loss a share was $1.20, which is higher than the $0.27 a share loss the company registered in the same period last year. Shutterfly, Inc. (NASDAQ:SFLY) company is forecasting a fourth quarter 2014 income of $2.54 a share on its projected revenue of $477.98 million.
The third biggest investment of Park West Asset Management LLC was Bristow Group Inc (NYSE:BRS), accounting for investment totaling to $42.78 million in value. Bristow Group Inc (NYSE:BRS) is an offshore transport services company whose focus is on offshore energy helicopter transportation, international search and rescue missions, pilot training services, and more. The company has recently received an average “buy” rating and a price target of $81.66 from 13 brokerages. Some of the brokerages that recently covered Bristow Group Inc (NYSE:BRS) are Zacks, Credit Suisse, JPMorgan Chase & Co., just to mention a few.
This article has been written by Victor Ochieng.