SAC Sinks Teeth Into Domino's

Jan 25 2011 | 10:36am ET

SAC Capital Advisors has bought up a 5.3% stake in delivery chain Domino's Pizza, the hedge fund giant disclosed in a regulatory filing.

SAC now owns 3.2 million Domino's shares, scooping them up just two weeks before the Super Bowl—undoubtedly one of Domino's busiest days. But the oft-derided chain has been on something of a roll over the past year, with its share price rising by almost half after it introduced a new pizza recipe in the U.S. and launched a several major advertising campaigns.

The SAC buy helped push Domino's shares up another 2.4% in after-the-bell trading.

SAC said its stake was a passive investment.

The purchase comes exactly five years after the New York Post chose to report the momentous news that Cohen bought a pizza pie from an East 33rd Street pizzeria, paying with his American Express "black card."


In Depth

Q&A: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note