A quick look into Toro Investment Partners, the company that revealed this morning that it had taken a 5% stake in embattled mobile services company NQ Mobile Inc (NYSE:NQ), offers some interesting information. According to SEC filings, Toro Investment Partners has just $32 million in assets under management. This morning’s revelation was worth around $40 million at today’s prices. If those numbers hold up, assuming Toro hasn’t gotten massive new investment since October 29th, when the AUM was recorded or took the shares at a discount, Toro Investment Partners must be very highly leveraged on this morning’s bet. The company…
NQ Mobile Bet By Toro Is Highly Leveraged
HFA Staff
The post above is drafted by the collaboration of the Hedge Fund Alpha Team.