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Distressed Investor Wilbur Ross Buys 2 Stocks
Posted by: Holly LaFon (IP Logged)
Date: May 16, 2013 02:58PM
Billionaire Wilbur Ross primarily invests in failed companies and leveraged buyouts. His business deals typically involve industries such as coal, steel, telecommunications, foreign investment and textiles.
Ross’ investment company, Invesco Private Capital, has 14 long positions and a $1.04 billion value.
Ross bought stakes in two new companies in the first quarter. The smaller buy was 108,500 shares of Select Medical Holdings Corporation (SEM) at an average price of $9 per share. Shares have since declined 9% from the average price.
Select Medical Holdings Corporation was incorporated on Oct. 14, 2004, as a Delaware corporation. Select Medical Holdings Corporation has a market cap of $1.16 billion; its shares were traded around $8.23 with a P/E ratio of 8.10 and P/S ratio of 0.40. Select Medical Holdings Corporation had an annual average earnings growth of 12.5% over the past five years.
The larger position is LipoScience Inc. (LPDX). Ross purchased 724,213 shares of LipoScience in the first quarter for $10 per share on average. The holding is 0.73% of his portfolio.
Liposcience Inc. is a pioneer in nuclear magnetic resonance self-diagnostics. Since going public in February 2013 its stock has declined 46.6%.
Liposcience Inc. has a market cap of $88.1 million; its shares were traded around $5.59 with a P/E ratio of 43.00 and P/S ratio of 0.30.
See Wilbur Ross’ portfolio here. Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of Wilbur Ross.
Guru Discussed: Wilbur Ross: Current Portfolio, Stock Picks
Stocks Discussed: SEM, LPDX,