SummerHaven Adds New Stakes in Viasat and Four Other Firms

SummerHaven Investment Management reported in its third-quarter 13F filing with the SEC new stakes in Viasat valued at about $3.61 million, The Bancorp at about $1.02 million, Par Pacific Holdings at about $2.63 million, and NB Bancorp at about $1.09 million. Viasat became the fund’s second-largest holding and Par Pacific ranked seventh. The fund also bought 7,463 shares of Avis Budget Group worth about $796,000, 31,650 shares of First Busey Corporation worth about $922,000, and 32,925 shares of Peabody Energy worth about $874,000. It raised its Ryder System stake by 50.5% to 6,444 shares worth about $1.47 million. Avis Budget Group on July 28 reported EPS of $0.98 versus a $2.05 consensus and revenue of $3 billion versus $3.10 billion expected. First Busey the same day posted EPS of $0.69 versus $0.63 consensus and declared a $0.26 quarterly dividend payable October 30 to holders of record October 23. Peabody Energy reported earnings July 29 and paid a dividend on September 3. On October 15, First Busey director Michael Cassens sold 1,441 shares at an average price of $29.12.