SATS - International Seaways gains after Einhorn's Greenlight takes stake exits Jack in the Box EchoStar (update)

Update 11:28am: Adds positions exited, fund performance. International Seaways Inc. (NYSE:INSW) rose 1.3% after David Einhorn's hedge fund took a new small position in the owner and operator of oil tankers and product carriers. Other new small positions include Ryanair Holdings (NASDAQ:RYAAY), TD Synnex (NYSE:SNX), Southwestern Energy (NYSE:SWN) and Weatherford International (WFRD). The new positions was revealed in the funds Q1 letter to investors, according to a copy of the letter seen by Seeking Alpha. Greenlight acquired the International Seaways (INSW) shares for an average price of $15.30 in the quarter, or less than 60% of INSW's liquidation value, according to the letter. "With oil demand having now recovered to pre-pandemic levels and no shipyard slots available for the construction of new tankers for several years, we expect a tighter market, and with it, INSW’s discount to its NAV to close," according to the letter. Greenlight reinitiated a position in SNX

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International Seaways gains after Einhorn's Greenlight takes stake, exits Jack in the Box, EchoStar (update)