Elliott Management Raises Stakes On Online Dating, E-Commerce, Airline Bets: What Investors Should Know
Portfolio Pulse from Chris Katje
Elliott Management has increased its stakes in Match Group, Etsy, and Southwest Airlines, while also holding puts on U.S. Global Jets ETF and American Airlines. The activist fund is pushing for changes in these companies to improve performance.
August 15, 2024 | 5:24 pm
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POSITIVE IMPACT
Elliott Management doubled its stake in Etsy and added a senior portfolio manager to the board. Etsy recently beat revenue and earnings estimates.
Elliott's increased stake and board influence, combined with recent earnings beats, suggest potential for positive stock movement.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Elliott Management increased its stake in Southwest Airlines and is pushing for board changes. Southwest has an upcoming Investor Day that could provide more insights.
Elliott's push for board changes and the upcoming Investor Day could lead to positive developments for Southwest Airlines.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Elliott Management increased its stake in Match Group by 184%, joining Starboard Value in pushing for changes. Match Group recently exceeded revenue estimates.
Elliott's increased stake and alignment with Starboard Value's push for changes could drive positive sentiment. Recent earnings beat adds to the positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Elliott Management is targeting Starbucks, which recently announced a new CEO.
Elliott's targeting of Starbucks and the recent CEO change could lead to strategic shifts, potentially benefiting the stock.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Elliott Management holds puts on American Airlines, potentially betting against the airline's performance.
The puts on AAL indicate a bearish outlook from Elliott, suggesting potential short-term downside for the stock.
CONFIDENCE 70
IMPORTANCE 55
RELEVANCE 65
NEGATIVE IMPACT
Elliott Management holds puts on U.S. Global Jets ETF, potentially as a hedge against its Southwest stake or a bet on sector underperformance.
The puts on JETS suggest Elliott is hedging its bets or expecting sector underperformance, which could negatively impact the ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70