Wednesday, August 26, 2009

New Huron holders (HURN)

AlphaNinja - Several new 13G filings indicate some opportunistic purchases of Huron Consulting (HURN), after the stock plummeted almost 70% in a day on some very bad news.

Galleon Management filed on the 21st

Citadel filed today.

Huron shares are up about 2.5% today, as people may be excited by Citadel's involvement. The stock jumped massively around the recent earnings report as people realized the selloff may have been overdone in relation to the news, and the shares have underperformed the general market by over 10% since that run.

A couple days ago, Avondale upgraded the shares and put a $25 price target on them, which would be a nice gain from today's $19 and change. Like the rest of wall street, they "let the dust settle" after the earnings restatement, and the stock subsequently jumped 40-50%. Can't blame them for being cautious.

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