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Share Decline Forces Highland Capital Management to Decrease Stake in Athenahealth Inc

Highland Capital Management Lp has decreased the stake it held in Athenahealth Inc by 83.13%. This is according to the most recent 2016Q1 it filled with SEC as part of the regulatory filing. Highland Capital sold its shares totaling to 78,976 as the stock of the company declined by 12.29% in the stock markets. The Hedge fund operated by James Dondero now holds 16,024 shares of the company going by the recent 2016Q1. These shares are now valued at $2.12 million, this is a decline from the previously held shares at 95,000 on the last reported quarter. Highland Capital has invested in the company for a number of months but now appear less bullish about it. Athenahealth Inc has since declined by 4.21% from 8 October 2015 and the downward trend is continuing. The company has under performed by around 5.86%.

HCM Lp that has about $2.25 billion and $15.04B Portfolio in the US has increased the stake it holds in Sally Beauty Holdings Inc by 516,848 shares making a total of 674,688 shares. The value of these shares according to the 2016Q1 is $21.85 million. It further increased its total share holding in Progressive Corp Ohio by around 345,150 shares to make the total 355,150 of its share holding. It also rose its stake in the Salesforce Com Inc. (Read More)

About James Dondero

He is the President and also co-founder of Highland Capital Management, currently residing in Dallas, TX. His experience in the equity and credit markets exceeds 30 years, focusing mainly on distressed and high-yield investing. After its inception in 1993, HCM is heralded as a pioneer in Collateralized Loan Obligation and also the development of credit oriented solutions for retail and institutional investors globally.

Dondero is the Chairman of CCS Medical, Cornerstone Healthcare and Nexbank. He also serves as a member of the board of MGM Studios and American Banknote. He is highly active philanthropically as he supports various education initiatives, public policy and veteran’s affairs. Before HCM, James was at GIC Subsidiary of Protective Life, as a Chief Investment Officer. He worked with it from its inception until it realized over $2B in the period of 1989 – 1993. 1985 – 1989, he was at American Express working as the Portfolio Manager and Corporate Bond Analyst.

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Additional Links:

http://www.bloomberg.com/research/stocks/private/person.asp?personId=2159086&privcapId=37846394

http://dallasinspections.net/james-dondero-his-company-and-achievements/

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