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Mason Hawkins’ Busy Week
Posted by: Monica Wolfe (IP Logged)
Date: September 13, 2013 05:05PM
On Sept. 10, Hawkins reported two real time transactions to the SEC. The guru also reported a reduction in his holdings in Dell on Sept. 12. These real time picks represent purchases/sales of a stock in which a guru owns greater than a 5% stake. Hawkins bought into News Corp, cut his position in Quicksilver Resources in half and made a 10% decrease in Dell after giving up the battle to keep the company from going private.
News Corp (NWS)
Mason Hawkins made his first buy into News Corp over the past week. The guru made an initial buy of 23,767,700 shares of the company’s stock at an average price of $16.49 per share. The price is now trading up about 1% to $16.71 per share. The transaction is valued at about $396 million. This purchase noted a 1.96% impact on his portfolio. Hawkins’ new holding represents a near 12% voting stake in News Corp.
Hawkins’ Southeastern Asset Management is now the largest holding behind the company’s chairman Rupert Murdoch who owns 39% of the company’s stocks. According to the SEC filing, Hawkins has no plans to influence News Corp.
News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises leading businesses across a range of media, including: news and information services, book publishing, digital education and pay-TV distribution in Australia.
News Corp’s historical revenue and net income:
News Corp was recently split into two different operating segments: News Corp. and 21st Century Fox.
News Corp’s historical pricing:
The company also recently announced that it would be selling the Dow Jones Local Media Group, which is a group of 33 local newspapers. The company will be selling these papers to Newcastle Investment Corp.
News Corp has a market cap of $6.34 billion. Its shares are currently trading at around $16.73 with a P/S ratio of 0.70. The company currently holds no debt.
Quicksilver Resources (KWK)
Over the past week Mason Hawkins cut over half of his holdings in Quicksilver Resources. The guru sold a total of 13,448,080 shares of Quicksilver, representing a -58.68% decrease in his position. Hawkins sold these shares at an average price of $1.76 per share. Since then the price has increased about 1% to $1.77 per share.
Hawkins still maintains 9,470,612 shares of Quicksilver Resources, representing about 5.3% of the company’s shares outstanding.
Hawkins’ holding history as of the second quarter:
Quicksilver Resources is a Fort Worth-based natural gas and oil exploration company focused on long-lived properties located onshore in North America. The company is one of North America’s leaders in the development and production of unconventional resources, including coal bed methane and shale gas.
Quicksilver’s historical revenue and net income:
On Sept. 3, the company closed on their sale of their Montana Asset to Synergy Offshore LLC.
Quicksilver Resources has a market cap of $312.4 million. Its shares are currently trading at around $1.77 with a P/S ratio of 0.50.
About a week after Mason Hawkins, alongside Carl Icahn, gave up their fight to keep Dell from going private. The two gurus argued that the company was being seriously undervalued by its CEO, Michael Dell.
On Sept. 12, Hawkins reduced his position in Dell -9.37%. The guru sold 6,669,776 shares of Dell at $13.85 per share.
During the second quarter Hawkins sold over 50 million shares to Icahn. Hawkins has been decreasing his position in Dell since 2012Q3. Hawkins’ holding history as of the second quarter:
Dell offers a range of technology solutions, including servers and networking products, storage products, services, software and peripherals, mobility products and desktop PCs. The company has been struggling to keep up with the transition from the PC to tablets and smart phones.
Dell’s historical revenue and net income:
Yesterday, Dell shareholders approved Michael Dell’s $24.9 billion buyout of the company. As the company goes private, Dell says that it will invest in additional acquisitions and stick with its PC business.
The Peter Lynch Chart suggests that the company is currently overvalued:
Dell has a market cap of $24.35 billion. Its shares are currently trading at around $13.85 with a P/E ratio of 18.20, a P/S ratio of 0.40 and a P/B ratio of 2.30. The company had an annual average earnings growth of 5.4% over the past 10 years.
GuruFocus rated Dell the business predictability rank of 3-star.
You can check out more of Mason Hawkins’ real time picks and his second quarter portfolio here.
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Guru Discussed: Mason Hawkins: Current Portfolio, Stock Picks
Michael Dell: Current Portfolio, Stock Picks
Stocks Discussed: NWS, KWK, DELL,