James Dondero’s HCM Decreases its Stake in Athenahealth, Inc

James Dondero’s Highland Capital Management reduced its share in Athenahealth, Inc by 83.13%; based on the latest 2016 first quarter filling with SEC. HCM LP. sold almost 79,000 shares as the firm’s stock declined by 12.29% whereas the stock markets rallied. Dondero’s hedge fund held 16,024 shares of miscellaneous firm at the end of the first quarter of 2016 valued at $2.2 million. This was a decrease from the 95,000 that was held at the end of previous reported quarter. HCM, which had been investing in the Athenahealth, Inc for quite some months, appears less bullish on the $5.1 billion cap firm. Despite the negative news, the stock is still up 0.8% or $1.03 going $130.57.

According to the filling, HCM upped its stake in the Sally Beauty Hldgs Inc by 516,848 shares valued at about $21.9 million in the first quarter of 2016. The company also increased its share in Progressive Corp Ohio by 345,150 in the same financial quarter, for a sum of 355,150 shares. Its stake has also risen in the Salesforce Com, Inc.

The Athenahealth, Inc . is a firm that provides mobile applications and cloud services for health systems and medical groups. The firm has a market cap reaching $5.1 billion. Athenahealth, Inc. delivers its services for revenue cycle management, patient engagement, electronic health records, order transmission, care coordination, population health management, clinical decision support, and order transmission. These services help the firm to connect to healthcare processes and info, and drive result for over 75,000 healthcare providers.

This recap was first published on; http://www.franklinindependent.com/highland-capital-management-lp-decreased-stake-in-athenahealth-inc-nasdaqathn-by-10-90-million-as-shares-declined/.

James Dondero

Mr. Dondero is the president and Co-founder of the Highland Capital Management, LP., which is the biggest manager of collateralized loan obligation all over the US by dollar amount. Jim serves as chairman of Board and CEO at HCM Acquisition Company; chairman of Cornerstone Healthcare, CCS Medical and NexBank; and as a Member of the Board of the MGM Studios and American Banknote.

Before starting HCM, Jim, as a Chief Investment Officer, helped in the creation of GIC subsidiary of Protective Life right from inception to more than $2 Billion in just 4 years. From 1985 to 1989, Dondero worked as a Corporate Bond Analyst and later as a Portfolio Manager at the American Express. Dondero started his career working as an analyst in the Morgan Guaranty in 1984.

Mr. Dondero is a graduate of the University of Virginia where he obtained the highest honors (Beta Alpha Psi, Beta Gamma Sigma). He later joined McIntire School of Commerce and graduated with dual majors in Finance and Accounting. Jim has obtained certifications as a CPA, CMA and FCA.

Additional Links:

James Dondero – His Company And Achievements

Meet James Dondero; the Highland Capital Management CO founder and President