From Home Furnishing Business
What Investor Einhorn Sees in Tempur Sealy
Investor David Einhorn has taken a new position in mattress supplier Tempur Sealy, and his purchase totals 1.15 million shares, or 1.9 percent of the company’s outstanding shares. What's the interest? This article analyzes the the bedding market and the appeal.
One of the moves we discussed in our latest analysis was David Einhorn’s new position in mattress and bedding maker Tempur Sealy (NYSE: TPX). His purchase totals 1.15 million shares at an estimated average price of $43.97. That’s about 1.9% of Tempur Sealy’s outstanding shares. Einhorn is the founder and president of investment firm Greenlight Capital. As of September 30, Tempur Sealy represented 0.9% of Greenlight’s portfolio.
Perhaps Einhorn’s most notable call was his bet against Lehman Brothers in the run-up to the financial crisis. Recent winning moves include an investment in pharmacy chain Rite Aid (NYSE: RAD), whose shares went on to jump over 45% in the three months between 13F filing periods.
Read Entire Story
Source: Investing Daily