SAC Capital Boosts Its Psychiatric Solutions Stake by 10,611%

Tue, 03/23/2010 - 06:47 EDT  in
 

Market Folly submits:In a 13G filed with the SEC, Steven Cohen's hedge fund firm SAC Capital has disclosed an 8.7% ownership stake in Psychiatric Solutions (PSYS) with 4,873,406 shares. The disclosure was made due to activity on March 12th, 2010 and this is a massive increase over SAC's previous position of only 45,498 shares from December 31st, 2009.In the past three months, SAC has increased its stake by over 10,611%, adding 4,827,908 more shares. PSYS of course has been a takeover target as of late and it's clear that SAC thinks that a transaction will eventually occur.Complete Story »

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