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Carl Icahn responds to question In NYC.
Carl Icahn operates a $29.7 billion portfolio that yields some of the best returns among all billionaire investors. From October to December he’s managed to yield approximately a 23% return for him and his investors. His latest purchase includes Nuance Communications where he acquired shares of the company in mid December 2013 for approximately $14.15 per share. Since acquiring the shares, Nuance is trading at $15.34 per share. He currently owns approximately 60,000,000 shares making this transaction worth approximately $60 million in short-term gains. Carl isn’t a new to this company, in fact he’s bought shares of Nuance in the past at an average share cost of $19.20 meaning he’s bearish on the company, and is currently in a losing position.
Nuance is the market leader in voice recognition software and is positioning themselves with new and innovative products. Their market cap is over $4 billion and they have recently been seen going after the medical community niche. While there has been some criticism about overpaying executives within their company, many analysts believe Nuance will perform very well as we move forward.
The writers of this article currently do not have a position in Nuance Communications, nor do they intend to take a position in this company within the next 72 hours.