Lone Pine Capital Boosts Stake in American Eagle Outfitters (AEO) to 5.4%
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In a 13G filing on American Eagle Outfitters Inc. (NYSE: AEO), Lone Pine Capital disclosed a 5.4% stake (11,609,322 shares) in the company. This is up from the 2,155,567 share stake the firm held at the quarter ended 09/30/07.
American Eagle, like many other retailers, has seen it stocks suffer over the past year - losing 43% of its value.
Lone Pine Capital is a $9 billion long/short equity hedge fund founded in 1997 by Steve Mandel. Prior to founding Lone Pine Capital, Mandel was senior managing director and consumer analyst at Tiger Management Corporation (1990-1997).
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