Toro increased his stake!!

[Mountainbiker]

Toro Investment ups NQ Mobile stake • 4:33 PM

• The chief investment officer of Toro Investment Partners discloses his firm has upped its NQ Mobile (NQ -7.2%) stake since Nov. 12. Toro, which has written bullish SA columns about NQ more than once, disclosed a 5% stake in the Chinese mobile software vendor on that day.

Though closing sharply lower on a down for equities, NQ managed to recoup a decent chunk of the morning losses it saw after SA contributor Robert Zangrill questioned the company's financials and accused it of "round tripping" revenue

[mockbae63]

First bullish Article in a week! That small paragraph will make NQ climb to 12 by tommrow hopefully.

[Mountainbiker]

First bullish Article in a week! That small paragraph will make NQ climb to 12 by tommrow hopefully.

Will have to find out how much stake Toro has now. Anyone has that info yet??

[Mountainbiker]

Now we know why there was a pop to $11.60 before the close. Some shorts got wind of it and covered. Those SOBs.

[RacerX]

[quote='mockbae63' pid='34066' dateline='1386798250']

First bullish Article in a week! That small paragraph will make NQ climb to 12 by tommrow hopefully.

Will have to find out how much stake Toro has now. Anyone has that info yet??

I haven't been able to find anything yet - Bloomberg still shows then with 1.518 million shares and 4.88%, but that is based on a filing on 11/08/13.  Not sure if they would need to file a new 13G, as they already did that on that with the previous purchase.

[tradestar2012]

[quote='mockbae63' pid='34066' dateline='1386798250']

First bullish Article in a week! That small paragraph will make NQ climb to 12 by tommrow hopefully.

Will have to find out how much stake Toro has now. Anyone has that info yet??

I haven't been able to find anything yet - Bloomberg still shows then with 1.518 million shares and 4.88%, but that is based on a filing on 11/08/13.  Not sure if they would need to file a new 13G, as they already did that on that with the previous purchase.

I may be mistaken, but I thought 13g filings are only needed if you hit certain ownership thresholds. Once you hit a percentage (i thought it was something like 5%), you can continue to accumulate without disclosures until you hit another threshold.

[RacerX]

[quote='Mountainbiker' pid='34067' dateline='1386798610']

[quote='mockbae63' pid='34066' dateline='1386798250']

First bullish Article in a week! That small paragraph will make NQ climb to 12 by tommrow hopefully.

Will have to find out how much stake Toro has now. Anyone has that info yet??

I haven't been able to find anything yet - Bloomberg still shows then with 1.518 million shares and 4.88%, but that is based on a filing on 11/08/13.  Not sure if they would need to file a new 13G, as they already did that on that with the previous purchase.

I may be mistaken, but I thought 13g filings are only needed if you hit certain ownership thresholds. Once you hit a percentage (i thought it was something like 5%), you can continue to accumulate without disclosures until you hit another threshold.

I think you are correct - the 4.88% has got me confused though...   Hopefully they took down another nice slug, and if that was their plan since they finished their DD, it makes sense for them not to release their findings.

[admin]

That is good news, these people that went to China and did DD on the ground have confidence and are voting with their wallets.

[Mountainbiker]

Nothing yet on the position. But I found this on Bloomberg.

Hedge fund Toro, based in San Francisco, has added holidngs in NQ Mobile since Nov 12, CIO Taek-Geun Kwon said in an email.

Toro held 5% of NQ Mobile as of last filing Nov.12, Kwon confirms

Recent weakness in NQ shares was caused by bearish articles, including one today, Kwon says

Short interest in NQ shares has been steadily climbing, leaving little room for borrowing. It can't go "materially" higher from here, Kwon says

NQ short interest rose to 14.1 m shares as of NOv 29 from 13.8m two weeks earlier, according to exchange data released yesterday.

[RacerX]

[quote='Mountainbiker' pid='34075' dateline='1386800152']

Nothing yet on the position. But I found this on Bloomberg.

Hedge fund Toro, based in San Francisco, has added holidngs in NQ Mobile since Nov 12, CIO Taek-Geun Kwon said in an email.

Toro held 5% of NQ Mobile as of last filing Nov.12, Kwon confirms

Recent weakness in NQ shares was caused by bearish articles, including one today, Kwon says

Short interest in NQ shares has been steadily climbing, leaving little room for borrowing. It can't go "materially" higher from here, Kwon says

NQ short interest rose to 14.1 m shares as of NOv 29 from 13.8m two weeks earlier, according to exchange data released yesterd

"It can't go "materially" higher from here, Kwon says" - interesting, Kwon apparently has great confidence in the stickyness of the large holders.