Hedge funds Senvest Management and Greenlight Capital are betting on Capri Holdings, according to a report by Seeking Alpha.
Hedge funds Senvest Management and Greenlight Capital are betting on Capri Holdings, according to a report by Seeking Alpha.
In an interview with CNBC’s Leslie Picker, Senvest co-chief investment officer Richard Mashaal said he liked the luxury fashion group because he believes the company to be undervalued and sees growth prospects for its underlying brands which include Versace, Jimmy Choo and Michael Kors.
Senvest reportedly returned 85 per cent last year mainly on the back of a long position in GameStope which is said to have made the firm USD700 million.
David Einhorn’s Greenlight Capital meanwhile, is said to have revealed in a recent letter to investors that it began building up a holding in Capri last year and sees ‘substantial upside’ in the business, according to the report.
