The Ryland Group, Inc. (RYL): Hedge Fund Manager Crispin Odey Is Bailing Out

The Ryland Group Inc. (NYSE:RYL)

Crispin Odey’s hedge fund filed an amended 13G filing revealing that it is disposing a big chunk of its holdings in The Ryland Group, Inc. (NYSE:RYL). The London-based hedge fund had 4.74 million shares of the stock at the end of February. Crispin Odey’s fund cut its position slightly to 4.64 million shares by the end of March. The latest filing discloses that Crispin Odey sold another 2 million shares and held 2.4 million shares of The Ryland Group, Inc. (NYSE:RYL) at the end of July.

According to hedge fund tracking site Insider Monkey Crispin Odey launched his fund in 1991 and the fund boosted its reputation by returning nearly 55% in 2008 when most investors lost a bundle. Billionaire George Soros was one of the early backers of the London hedge fund manager. Odey’s recent performance isn’t spectacular. His investment in The Ryland Group, Inc. (NYSE:RYL) lost nearly 28% since the end of February.
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