6,53 million A-rated shares issued by Yandex N.V. have recently changed the holder - Thornburg Investment Management, a US investment fund headquartered in Santa Fe, New Mexico. It turns out that now the investment fund owns over 7% of Yandex’s stock. The cost of the deal is not revealed. However, judging by the current price of the stock (NASDAQ), Thornburg Investment Management managed to earn $17 million within a month of holding the stock.
Increasing Exposure
This not the first time Thornburg Investment Management has invested in Yandex. Before the recent deal, the investment funds already owned 3,6% of Yandex’s stock (A-rated shares).
Now the US investment fund owns 13.3 million A-rate shares (or 7,07% of Yandex’s stock). This makes Thornburg Investment Management Yandex’s 4th biggest shareholder. Barring Vostok is number 1 with 20,5%. Tiger Global is number 2 - 16,2%.
Thornburg Investment bought Yandex’s stock on the last trading day of 2012 at $1,5 per share. When NASDAQ closed on December 30th, the stock cost $24,1 per share.
Experts are sure that the very fact that Yandex becomes more popular with foreign investors reveals the overall market tendency. In particular, investors get increasingly interested in the IT sector as it presents considerable potential.
Prospects
Taking into account several factors, experts anticipate further stabilization of the market, with a chance of further rally.
The chart below, courtesy of , reflects the current state of affairs in the market of YNDX:
Хотя, как известно из всемирной истории, успехи претворения в жизнь советской, а теперь перешедшей по наследству российской «инженерной мысли» не давали покоя людям, проповедовавшим идеологию, воспитанную «западным» менталитетом…
