Highland Capital Management has recently decreased its ownership stake in AthenaHealth stock. The decrease has been pretty substantial as it has lowered its ownership amount by over 83% according to its first quarter reports by the SEC. The firm sold over 78,000 shares due to the stock declining in value by over 12%. Highland Capital Management had a hedge fund that owned over 16,000 shares of AthenaHealth which had a value of $2.2 million. However this is much less than the 95,000 shares the firm owned during the previous quarter. The firm has invested in the company for many months but since the value of the stock is declining, Highland Capital Management decided to sell off its shares in order to minimize its losses.
AthenaHealth is a healthcare company that has been among the leading companies in its market. However its stock value has gone down in recent months and therefore Highland Capital Management decided to lower its ownership stake to avoid more losses. While the stock market has went up, AthenaHealth has seen a sharp decline over the last quarter. Instead of continuing to invest in AthenaHealth, Highland Capital Management has looked to invest in other stocks to compensate for the current losses that it has sustained. By investing in other stocks, Highland Capital Management will be in good position to prosper with its investment holdings in the near future.
The firm known as Highland Capital Management is an investment firm based in Dallas Texas. It was founded by James Dondero back in the year 1993. He decided to start up a financial services firm that specialized in credit securities along with investment management and advisory. Over the last two decades, Dondero has built this firm into one of the most successful in the entire world. It currently has a number of hedge funds that allow it to hold a considerable stake in a number of companies.
James Dondero has over three decades of experience in the financial services industry. He began his career in the 1980’s as a credit investor. James would later manage over $1 billion in assets for large companies such as American Express. Later in his career James would later become a Chief Investment Officer in which he continued to manage very large sums of money for companies. After reaching this position he decided to start up his own firm in order to meet a need in the market.
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