Will Patriot Coal’s Bankruptcy Cause James River Coal’s Top Institutional Shareholders to SELL?

So far this year, James River Coal Co.’s (NASDAQ:JRCC) shares are down 66.18 percent. On Tuesday, the company’s shares tumbled 25 percent in response to Patriot Coal Corp.’s (NYSE:PCX) bankruptcy filing news on Monday. Investors may be asking whether the company will follow suit with its own bankruptcy proceedings. Investors should note the company has $200 million-plus in cash but it does have debt of $585 million.

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With the market’s recent negative response to coal stocks, will James River Coal’s largest shareholders decrease their holdings? 2 institutional firms indicated owning shares of James River Coal Co. (NASDAQ:JRCC) in Q2 2012. These firms reported owning a total of 23,914 shares on 06/30/2012. The shares closed at $2.71 on 06/30/2012.

Here are the ten largest positions in James River Coal Co. at the end of June 30th, 2012.

Tradeworx Inc. held 13,914 shares on 06/30/2012 worth $37,707. This brought the portfolio total to 0.03%.

Park National Corp /OH/ held 10,000 shares on 06/30/2012 worth $27,100. This brought the portfolio total to 0.0%.

Neuberger Berman Group LLC held 22,035,000 shares on 03/31/2012 worth $12,340,000. This brought the portfolio total to 0.02%.

Oaktree Capital Management LP held 21,210,000 shares on 03/31/2012 worth $10,681,000. This brought the portfolio total to 0.16%.

Wolverine Asset Management LLC held 18,546,000 shares on 03/31/2012 worth $9,928,000. This brought the portfolio total to 0.19%.

Silverback Asset Management LLC held 18,390,000 shares on 03/31/2012 worth $9,931,000. This brought the portfolio total to 0.54%.

Ameriprise Financial Inc held 12,250,000 shares on 03/31/2012 worth $6,836,000. This brought the portfolio total to 0.0%.

Peak6 Investments L.P. held 11,000,000 shares on 03/31/2012 worth $5,371,000. This brought the portfolio total to 0.03%.

BNP Paribas Arbitrage SA held 6,811,000 shares on 03/31/2012 worth $381,416,000. This brought the portfolio total to 0.56%.

GLG Partners LP held 5,000,000 shares on 03/31/2012 worth $2,700,000. This brought the portfolio total to 0.15%.

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