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What the Gurus Did This Week – Guru Real Time Update
Posted by: Monica Wolfe (IP Logged)
Date: August 2, 2013 10:21PM
The following information is a highlight of the real-time guru activity we saw this week. To view more information on these gurus, check out their guru portfolios. The “Real Time Picks” reports the stock purchases and sells that Gurus have made within the prior two weeks. If a Guru makes a purchase or sell of a company in which they owns a greater-than 5% stake, SEC regulations require them to report their transaction within two days. Alan Fournier, Mason Hawkins, George Soros, Richard Blum and Bill Ackman all reported real time activities over the past week.
Also this week, we've seen second quarter portfolio updates for Mario Gabelli, The Fairholme Fund, John Hussman and The Meridian Fund.
On July 31, Fournier purchased a total of 10,000 shares of Universal Stainless & Alloy Products (USAP), representing a 0.88% increase to his holdings. Fournier purchased these shares at an average price of $25.80 per share. Since his most recent buy, the price per share has increased approximately 4%. The guru now holds on to 1,143,021 shares of Universal stock, representing 16.42% of the company’s shares outstanding.
Fournier has held a position in USAP since 2003Q3. The guru’s holding history as the first quarter:
Universal Stainless & Alloy Products manufactures and markets semi-finished and finished specialty steel products, including stainless steel, tool steel and certain other alloyed steels. The Company's products are sold to re-rollers, forgers, service centers, original equipment manufacturers and wire re-drawers.
Universal Stainless & Alloy Products’ historical revenue and net income:
The Peter Lynch Chart shows that USAP appears to be overvalued:
Universal Stainless & Alloy Products has a market cap of $181.4 million. Its shares are currently trading at around $26.88 with a P/E ratio of 23.70, a P/S ratio of 0.90 and a P/B ratio 0.80. The company has seen an average annual earnings growth of 16% over the past ten years.
Alan Fournier and Chuck Royce are the only gurus that hold a stake in USAP. Click here to see their holding histories.
Mason Hawkins made a minor reduction to his position in Chesapeake Energy (CHK). The guru sold a total of 127,988 shares, representing a -0.14% decrease in his holdings. Hawkins sold these shares at an average price of $24.95 per share. The share price has not changed since his sell.
Hawkins now holds on to a total of 89,300,830 shares of Chesapeake Energy, representing approximately 13% of the company’s shares outstanding. Hawkins’ holding history of Chesapeake as of the first quarter:
Chesapeake is a natural gas and oil exploration and production company engaged in the exploration, development and acquisition of properties for the production of natural gas and crude oil from underground reservoirs and it provides marketing and midstream services.
Chesapeake’s historical revenue and net income:
The warnings signs for Chesapeake warn that the payout ratio might be too high, that the company has issued $488 million over the past three years and that the company’s price is at a 1-year high.
Chesapeake has a market cap of $15.5 billion. Its shares are currently trading at $24.91 with a P/E ratio of 27.10, a P/S ratio of 1.20 and a P/B ratio of 1.30.
There are 19 gurus[/url] that maintain positions in Chesapeake Energy. Click here to see their holding histories.
Over the past week George Soros made yet another two reductions in his holdings in Exar Corporation (EXAR). This most recent reduction marks the ninth reduction in shares during the second quarter.
On Monday, Soros sold a total of 132,489 shares representing a -2.18% decrease in his holdings. The guru sold these shares at an average price of $12.87 per share. Since this sell the price per share has dropped approximately 1%.
Soros reduced his holdings again on Tuesday by -0.02% by selling a total of 1,100 shares, representing a 0.02% reduction in his holdings. The guru sold these shares at an average price of $12.95 per share. Since this sell the price per share has dropped approximately 1%.
Soros currently holds on to 5,950,136 shares of Exar, representing 12.88% of the company’s shares outstanding. Soros’ holding history as of March 31:
Exar designs, develops and markets high performance, analog mixed-signal integrated circuits and advanced sub-system solutions for the networking and storage, industrial and embedded systems and communications infrastructure markets. The company’s product portfolio includes power management and connectivity components, communications products, network security and storage optimization solutions.
Exar’s historical revenue and net income:
The analysis on the company reports that the revenue has been in decline over the past three years, that the price is at a 5-year high and that their interest coverage is comfortable.
Exar has a market cap of $599.4 million. Its shares are currently trading at around $12.77 with a P/E ratio of 193.40, a P/S ratio of 4.90 and a P/B ratio of 2.60.
Jim Simons[/url] and Chuck Royce also maintain holdings in Exar. Click here to see their holding histories.
Over the past week, Richard Blum made a slight reduction in his holdings of Career Education Corporation (CECO). Blum decreased his holdings by -3.5% by selling a total of 285,000 shares. He sold these shares at an average price of $3.46 per share. Since his sell, the price per share has dropped approximately -6%.
Blum currently holds on to 7,858,623 shares of Career Education, representing 11.7% of the company’s shares outstanding. Blum’s holding history of CECO as of the first quarter:
Career Education Corporation offers educational services to a student population of over 116,000 students across the world in a variety of career-oriented disciplines. There are approximately 90 campuses that serve these students throughout the U.S., France, Italy and the UK.
Career Education’s historical revenue and net income:
Career Education has a market cap of $207.6 million. Its shares are currently trading at around $3.25 with a P/E ratio of 17.80, a P/S ratio of 0.20 and a P/B ratio of 0.40.
Richard Blum[/url], Chuck Royce and Jim Simons all hold stake in CECO. Click here to see their holding histories.
Bill Ackman made the most noticeable transaction of the week by purchasing over 20 million shares of Air Supply & Chemicals (APD).
On Wednesday, Guru Bill Ackman confirmed that his hedge fund, Pershing Square, had in fact disclosed a 9.8% stake in the company as well as the intent to engage in a discussion with management and the board, aiming for a change. According to Ackman’s SEC filing, Pershing Square purchased a total of 20,545,284 shares over the past two months. The filing reports that the Pershing Square bought shares at prices ranging from $91.57 to $106.36 beginning in June and stretching all the way to Tuesday.
The transaction, valued at $2.2 billion, is the first single-stock fund Ackman has raised money since Target (TGT) in 2007 which lost 65% of its value over the following two years. Air Products will also be the largest investment in Pershing Square Capital Management’s history.
Air Products is a supplier of hydrogen and helium. It also provides semiconductor materials, refinery hydrogen, natural gas liquefaction, and advanced coatings and adhesives. It serves technology, energy, industrial, and healthcare customers globally with a unique portfolio of products, services, and solutions that include atmospheric gases, process and specialty gases, performance materials, equipment, and services.
Air Products’ historical revenue and net income:
The Peter Lynch Chart shows that Air Products appears to be overvalued:
Air Products has a market cap of $22.71 billion. Its shares are currently trading at around $106.95 with a P/E ratio of 22.90, a P/S ratio of 2.20 and a P/B ratio of 3.60. The company has seen an average annual earnings growth of 6.5% over the past ten years.
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Guru Discussed: Bill Ackman: Current Portfolio, Stock Picks
Richard Blum: Current Portfolio, Stock Picks
Stocks Discussed: USAP, CHK, EXAR, CECO, APD,