John Rogers

Last Update: 04-08-2016

Number of Stocks: 196
Number of New Stocks: 12

Total Value: $8,341 Mil
Q/Q Turnover: 4%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

John Rogers Watch

  • John Rogers Comments on STRATTEC Security Corp

    STRATTEC Security Corp. (NASDAQ:STRT) designs, manufactures and sells automotive access control products. It has a clean balance sheet and trades near tangible book value. Additionally, advancement in automated cars should provide a tailwind, driving demand for STRATTEC products. Lastly, West Marine, Inc. (WMAR) operates retail stores for boating supplies and accessories. The company trades at a sizable discount to book value despite being profitable, and has a clean balance sheet with no debt and excess cash. West Marine is positioned to take advantage of an ongoing recovery in the boating industry.

    From John Rogers (Trades, Portfolio)' first quarter 2016 Ariel Discovery Fund Commentary.   

  • John Rogers Comments on Real Industry Inc.

    Real Industry Inc. (NASDAQ:RELY) is a holding company based in Southern California backed by notable investors, including Sam Zell. With over $800 million in federal net operating losses (NOLs), management plans to acquire cash generating, stand-alone businesses that can utilize the NOL asset. Its first major purchase was Real Alloy, an aluminum recycling company. We believe the value of Real Alloy alone is more than the current market capitalization of Real Industry.

    From John Rogers (Trades, Portfolio)' first quarter 2016 Ariel Discovery Fund Commentary.   

  • John Rogers Comments on Rentech Inc.

    Also, clean energy solutions provider Rentech, Inc. (NASDAQ:RTK) dropped -36.93% amidst disappointing short-term earnings. Specifically, the company posted a loss of $0.48 after analysts predicted a loss of $0.08. As long-term owners of the stock, we know the business can be relatively lumpy and are comfortable with it. We continue to believe the market misunderstands the company, it structure and its promise.

    From John Rogers (Trades, Portfolio)' first quarter 2016 Ariel Discovery Fund Commentary.   

  • John Rogers Comments on Century Casinos Inc.

    Other holdings slid in the short term. Gaming firm Century Casinos, Inc. (NASDAQ:CNTY) slid -20.82% after a weak earnings report. Specifically, the company reported $0.03 in earnings per share, missing consensus estimates of $0.11—largely due to soft revenues. We continue to think the stock trades at a deep discount to its intrinsic worth and believe its long-term trajectory will surpass Wall Street expectations.

    From John Rogers (Trades, Portfolio)' first quarter 2016 Ariel Discovery Fund Commentary.   

  • John Rogers Comments on Contango Oil & Gas Co.

    In addition, natural resources exploration and production company Contango Oil & Gas Co. (MCF) gained +83.93% as the price of oil recovered during the quarter. There was no other significant news beyond oil’s rebound—which was good news enough for Contango. Crude oil started 2016 at close to $37 per barrel, sank to a low of $26 in mid-February, then marched back above $40 before settling back a bit. Although the commodity essentially was flat, the rebound showed its year-and-a-half long slide has perhaps found a floor. We continue to think Contango has unrecognized value.

    From John Rogers (Trades, Portfolio)' first quarter 2016 Ariel Discovery Fund Commentary.   

  • John Rogers Comments on ORBCOMM Inc.

    Machine-to-machine communications company ORBCOMM, Inc. (NASDAQ:ORBC) continued the nice run it began in late 2015, rising +39.92%. There was not much news in 2016, but as we mentioned in late 2015, the unfolding story was only starting to take hold and should have long legs in our view. With its full satellite “constellation” launched and operational, the company’s once-considerable capital expenditures will dwindle and profits can now fall to the bottom line. We have been selling into strength but still own the stock.

    From John Rogers (Trades, Portfolio)' first quarter 2016 Ariel Discovery Fund Commentary.   

  • John Rogers' 1st Quarter 2016 Ariel Discovery Fund Commentary

    The first quarter of 2016 was flat in some places and down slightly in others, but we doubt most investors remember it that way. The carnage in January was harsh, and daily volatility has been high, so many likely think of it as a rough three months. Yet the last half of the quarter largely recouped the losses from the first half. Among the three broad indexes tracking our asset classes, one was up a small amount and the other two were down. U.S. large caps were up a small amount. On the other hand, domestic small caps slipped a bit and foreign stocks were down. When U.S. large caps are up while U.S. small caps and foreign stocks retreat, we generally think it says more about sentiment than economics. That is, U.S. large caps are seen as providing stability whereas small caps and foreign stocks are seen as more risky. The discrepancy between domestic value and growth indexes says the same. That is, growth indexes from the large-, mid-, and small- cap universe ranged from less than +1% up to down nearly -5%, while the value counterparts were up more than +1% to +4%. For more than a year investor sentiment has gone up and down without a strong trend.

    This quarter, Ariel Discovery Fund rose +2.20%, ahead of the Russell 2000 Value Index’s +1.70% gain, as well as the +1.35% rise of the S&P 500 Index.


  • John Rogers Comments on Bristow Group Inc.

    Also, helicopter operator Bristow Group Inc. (NYSE:BRS) fell -26.60% on two pieces of news: a helicopter crash and a dividend cut. Helicopter crashes are quite rare and very unfortunate, but they do occur. Turning to the dividend cut, some saw it as cause for worry, but we thought it represented prudent balance sheet management. Wall Street fears that oil companies will not only cut exploration but also production—which would hurt Bristow. While exploration cuts are realistic possibilities; we think production cuts are quite unlikely. The stock’s volatility has created buying opportunities.


  • John Rogers Comments on JLL

    Other holdings slid in the short term. Real estate expert JLL (NYSE:JLL) drifted -26.61% after a soft earnings report. The company reported adjusted earnings per share of $4.53, below the consensus estimate of $4.78. Currency had the biggest negative impact, although revenues were soft even though they were up year-over-year. Management delivered a steady outlook and said leasing volumes are improving. We are quite content to own this powerhouse through the ups and downs of the business cycle.


  • John Rogers Comments on Mattel Inc.

    In addition, toymaker Mattel, Inc. (NASDAQ:MAT) jumped +25.27% on news of its merger discussions with Hasbro, Inc. (NASDAQ:HAS). Nothing has happened to date, and nothing may happen. We find the news encouraging because it shows strategic flexibility. We think the company will thrive with or without a merger, and that it can continue to adapt as the digital entertainment world grows.


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