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New Small Cap Ideas from Chuck Royce: ASNA, WWD, PLCE, GSIG, EHTH, PVR, CLI, SVU, LHO, VC

Chuck Royce is the president, co-chief investment officer and portfolio manager at Royce & Associates, a $37 billion mutual fund based in New York. Royce’s firm focuses on value investing in small-cap companies and has achieved sizable returns with these stocks. In 2009, Royce’s Premier Fund returned 26.5% versus the S&P 500’s 15%, and in 2009 it returned 33.3% versus the S&P 500’s 26.5%. It had 10-year cumulative returns of 186.5%, far surpassing the S&P’s 16.4%.

Mr. Royce’s Premier Fund has outperformed 10 out of the 11 years since 2000. In 2008, when small cap had far worse declines than the broad market, Chuck Royce’s Premier Fund outperformed the market by 8.7%

GuruFocus is hosting a Q&A session with Mr. Royce. To ask Chuck Royce a question for our upcoming interview with him, click here.

This is the portfolio chart of Chuck Royce. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



As of 03/31/2011, Royce & Associates owns 1,487 stocks with a total value of $35.9 billion. These are the details of the new buys in the small cap area.

New Purchase: Ascena Retail Group Inc. (ASNA)

Chuck Royce initiated holdings in Ascena Retail Group Inc.. His purchase prices were between $25.78 and $32.43, with an estimated average price of $29.3. The impact to his portfolio due to this purchase was 0.46%. His holdings were 5,114,300 shares as of 03/31/2011.

Ascena Retail Group Inc, formerly known as The Dress Barn Inc. Ascena Retail Group Inc. has a market cap of $2.43 billion; its shares were traded at around $31.05 with a P/E ratio of 13.7 and P/S ratio of 1. Ascena Retail Group Inc. had an annual average earnings growth of 17.2% over the past 10 years. GuruFocus rated Ascena Retail Group Inc. the business predictability rank of 4.5-star.

New Purchase: Woodward Inc. (WWD)

Chuck Royce initiated holdings in Woodward Inc. His purchase prices were between $31.12 and $35.855, with an estimated average price of $33.33. The impact to his portfolio due to this purchase was 0.45%. His holdings were 4,696,724 shares as of 03/31/2011.

Woodward Inc. operates as a designer, manufacturer and service provider of energy control and optimization solutions used in global infrastructure equipment serving the aerospace, power generation and distribution, and transportation markets. Woodward Inc. has a market cap of $2.49 billion; its shares were traded at around $36.16 with a P/E ratio of 22.5 and P/S ratio of 1.8. The dividend yield of Woodward Inc. stocks is 0.8%. Woodward Inc. had an annual average earnings growth of 15.9% over the past 10 years.

New Purchase: Children's Place Retail Stores Inc. (PLCE)

Chuck Royce initiated holdings in Children's Place Retail Stores Inc. His purchase prices were between $40.89 and $50.48, with an estimated average price of $45.68. The impact to his portfolio due to this purchase was 0.07%. His holdings were 473,109 shares as of 03/31/2011.

The Children's Place Retail Stores Inc. is a growing specialty retailer of apparel and accessories for children from newborn to 12 years of age. Children's Place Retail Stores Inc. has a market cap of $1.4 billion; its shares were traded at around $53.6 with a P/E ratio of 17.3 and P/S ratio of 0.8. Children's Place Retail Stores Inc. had an annual average earnings growth of 12.2% over the past 10 years.

New Purchase: Gsi Group Inc. (GSIG)

Chuck Royce initiated holdings in Gsi Group Inc. His purchase prices were between $10.59 and $13.505, with an estimated average price of $11.97. The impact to his portfolio due to this purchase was 0.05%. His holdings were 1,674,238 shares as of 03/31/2011.

GSI Group supplies precision motion control components, lasers and laser- based advanced manufacturing systems to the global medical, semiconductor, electronics and industrial markets..

New Purchase: Mackcali Realty Corp. (CLI)

Chuck Royce initiated holdings in Mackcali Realty Corp.. His purchase prices were between $32.23 and $35.02, with an estimated average price of $33.66. The impact to his portfolio due to this purchase was 0.04%. His holdings were 430,800 shares as of 03/31/2011.

Mack-Cali Realty Corp. is a fully-integrated, self-administered and self-managed real estate investment trust that owns and operates a portfolio comprised predominantly of Class A office and office/flex properties located primarily in the Northeast, as well as commercial real estate leasing, management, acquisition, development and construction businesses. Mackcali Realty Corp. has a market cap of $3 billion; its shares were traded at around $34.92 with a P/E ratio of 12.6 and P/S ratio of 3.9. The dividend yield of Mackcali Realty Corp. stocks is 5.2%.

New Purchase: Ehealth Inc. (EHTH)

Chuck Royce initiated holdings in Ehealth Inc. His purchase prices were between $11.64 and $14.4, with an estimated average price of $12.68. The impact to his portfolio due to this purchase was 0.04%. His holdings were 1,170,200 shares as of 03/31/2011.

eHealth Inc. is the parent company of eHealthInsurance, the online source of health insurance for individuals, families and small businesses. Ehealth Inc. has a market cap of $278.2 million; its shares were traded at around $13.03 with a P/E ratio of 17.6 and P/S ratio of 1.7. Ehealth Inc. had an annual average earnings growth of 39.7% over the past 5 years.

New Purchase: Penn Virginia Resource Partners L.p. Common Units (PVR)

Chuck Royce initiated holdings in Penn Virginia Resource Partners L.p. Common Units . His purchase prices were between $24.91 and $28.92, with an estimated average price of $27.82. The impact to his portfolio due to this purchase was 0.04%. His holdings were 514,500 shares as of 03/31/2011.

Penn Virginia Resource Partners is a limited partnership formed by Penn Virginia Corporation to engage in the business of managing coal properties in the Central Appalachian region of the United States. Penn Virginia Resource Partners L.p. Common Units has a market cap of $1.85 billion; its shares were traded at around $26.07 with a P/E ratio of 22.6 and P/S ratio of 2.2. The dividend yield of Penn Virginia Resource Partners L.p. Common Units stocks is 7.4%. Penn Virginia Resource Partners L.p. Common Units had an annual average earnings growth of 27.5% over the past 10 years. GuruFocus rated Penn Virginia Resource Partners L.p. Common Units the business predictability rank of 2-star.

New Purchase: Visteon Corp. (VC)

Chuck Royce initiated holdings in Visteon Corp. His purchase prices were between $61.54 and $75.75, with an estimated average price of $69.72. The impact to his portfolio due to this purchase was 0.03%. His holdings were 146,366 shares as of 03/31/2011.

Visteon Corp. operates as an automotive supplier engaged in the design, engineering and manufacturing of innovative climate, electronic, interior and lighting products for vehicle manufacturers. Visteon Corp. has a market cap of $3.36 billion; its shares were traded at around $66.13 with a P/E ratio of 97.2 and P/S ratio of 0.5.

New Purchase: Lasalle Hotel Properties (LHO)

Chuck Royce initiated holdings in Lasalle Hotel Properties. His purchase prices were between $25.17 and $29.38, with an estimated average price of $27.56. The impact to his portfolio due to this purchase was 0.03%. His holdings were 448,300 shares as of 03/31/2011.

Lasalle Hotel Properties, which intends to operate as a real estate investment trust for federal income tax purposes, has been formed to own hotel properties and to continue and expand the hotel investment activities of LaSalle Partners Incorporated and certain of its affiliates collectively, LaSalle. Lasalle Hotel Properties has a market cap of $2.06 billion; its shares were traded at around $27.18 with a P/E ratio of 18.4 and P/S ratio of 3.4. The dividend yield of Lasalle Hotel Properties stocks is 1.6%. Lasalle Hotel Properties had an annual average earnings growth of 1.3% over the past 10 years.

New Purchase: Klatencor Corp. (KLAC)

Chuck Royce initiated holdings in Klatencor Corp. His purchase prices were between $37.69 and $51.21, with an estimated average price of $45. The impact to his portfolio due to this purchase was 0.03%. His holdings were 200,000 shares as of 03/31/2011.

KLA-Tencor Corporation is one of the world's suppliers of process control and yield management solutions for the semiconductor and related microelectronics industries. Klatencor Corp. has a market cap of $7.41 billion; its shares were traded at around $44.3 with a P/E ratio of 10.8 and P/S ratio of 5.6. The dividend yield of Klatencor Corp. stocks is 2.2%.

New Purchase: Supervalu Inc. (SVU)

Chuck Royce initiated holdings in Supervalu Inc. His purchase prices were between $7.23 and $9.63, with an estimated average price of $8.11. The impact to his portfolio due to this purchase was 0.03%. His holdings were 1,307,700 shares as of 03/31/2011.

Supervalu is one of the nation's largest supermarket retailer and largest food distributor. Supervalu Inc. has a market cap of $2.28 billion; its shares were traded at around $10.74 with a P/E ratio of 7.8 and P/S ratio of 0.1. The dividend yield of Supervalu Inc. stocks is 3.2%. Supervalu Inc. had an annual average earnings growth of 6.2% over the past 10 years.

New Purchase: Swift Transportation Co. (SWFT)

Chuck Royce initiated holdings in Swift Transportation Co.. His purchase prices were between $12.47 and $15.12, with an estimated average price of $14.2. The impact to his portfolio due to this purchase was 0.02%. His holdings were 478,500 shares as of 03/31/2011.

Swift Transportation Co. LLC operates as a multi-faceted transportation services company primarily engaged in providing truckload carrier services in North America. Swift Transportation Co. has a market cap of $979.3 million; its shares were traded at around $13.36 with and P/S ratio of 0.3.

New Purchase: Pantry Inc. (PTRY)

Chuck Royce initiated holdings in Pantry Inc. His purchase prices were between $13.31 and $19.86, with an estimated average price of $16.08. The impact to his portfolio due to this purchase was 0.02%. His holdings were 413,100 shares as of 03/31/2011.

The Pantry Inc. is an operator of convenience stores. Pantry Inc. has a market cap of $420.1 million; its shares were traded at around $18.32 with a P/E ratio of 15.5. Pantry Inc. had an annual average earnings growth of 6.7% over the past 10 years.

New Purchase: Eastman Kodak Company (EK)

Chuck Royce initiated holdings in Eastman Kodak Company. His purchase prices were between $2.96 and $5.74, with an estimated average price of $3.97. The impact to his portfolio due to this purchase was 0.02%. His holdings were 1,817,000 shares as of 03/31/2011.

Eastman Kodak Company is engaged primarily in developing, manufacturing and marketing consumer, professional, health and other imaging products and services. Eastman Kodak Company has a market cap of $758.2 million; its shares were traded at around $2.82 with and P/S ratio of 0.1.

New Purchase: Mindspeed Technologies Inc. (MSPD)

Chuck Royce initiated holdings in Mindspeed Technologies Inc.. His purchase prices were between $6.1 and $8.7, with an estimated average price of $7.49. The impact to his portfolio due to this purchase was 0.02%. His holdings were 754,317 shares as of 03/31/2011.

Mindspeed Tech designs, develops and sells semiconductor solutions for communications applications in enterprise, access, metropolitan and wide area networks. Mindspeed Technologies Inc. has a market cap of $275.3 million; its shares were traded at around $8.46 with a P/E ratio of 13.6 and P/S ratio of 1.5.

New Purchase: Mgic Investment Corp. (MTG)

Chuck Royce initiated holdings in Mgic Investment Corp. His purchase prices were between $7.89 and $11.65, with an estimated average price of $9.28. The impact to his portfolio due to this purchase was 0.02%. His holdings were 731,800 shares as of 03/31/2011.

Mgic Investment Corporation is a holding company which, through its wholly owned subsidiary, Mortgage Guaranty Insurance Corporation, is the provider of private mortgage insurance coverage in the United States to the home mortgage lending industry. Mgic Investment Corp. has a market cap of $1.69 billion; its shares were traded at around $8.41 with and P/S ratio of 1.1.

New Purchase: Neophotonics Corp (NPTN)

Chuck Royce initiated holdings in Neophotonics Corp. His purchase prices were between $8.36 and $20.55, with an estimated average price of $14.06. The impact to his portfolio due to this purchase was 0.02%. His holdings were 564,500 shares as of 03/31/2011.

NeoPhotonics Corporation is engaged in the design and manufacture of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. Neophotonics Corp has a market cap of $225.6 million; its shares were traded at around $9.16 with and P/S ratio of 1.2.

New Purchase: Western Copper Corp. (WRN)

Chuck Royce initiated holdings in Western Copper Corp. His purchase prices were between $2.71 and $4.06, with an estimated average price of $3.53. The impact to his portfolio due to this purchase was 0.02%. His holdings were 2,212,500 shares as of 03/31/2011.

Western Copper Corporation is an exploration and development company focused in the exploration and production of gold, copper and molybdenum. Western Copper Corp. has a market cap of $296 million; its shares were traded at around $3.23.

New Purchase: Ufp Technologies Inc. (UFPT)

Chuck Royce initiated holdings in Ufp Technologies Inc. His purchase prices were between $12.19 and $20.97, with an estimated average price of $16.59. The impact to his portfolio due to this purchase was 0.02%. His holdings were 354,193 shares as of 03/31/2011.

Ufp Technologies Inc. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. Ufp Technologies Inc. has a market cap of $99.2 million; its shares were traded at around $15.55 with a P/E ratio of 11.4 and P/S ratio of 0.8. Ufp Technologies Inc. had an annual average earnings growth of 30.9% over the past 5 years.

New Purchase: Hovnanian Enterprises Inc. (HOVU)

Chuck Royce initiated holdings in Hovnanian Enterprises Inc. His purchase prices were between $21.25 and $24.26, with an estimated average price of $22.29. The impact to his portfolio due to this purchase was 0.01%. His holdings were 215,300 shares as of 03/31/2011.

New Purchase: Ameresco Inc. (AMRC)

Chuck Royce initiated holdings in Ameresco Inc. His purchase prices were between $12.87 and $16.78, with an estimated average price of $14.73. The impact to his portfolio due to this purchase was 0.01%. His holdings were 217,477 shares as of 03/31/2011.

Ameresco Inc. is an independent provider of comprehensive energy efficiency solutions for facilities throughout North America. Ameresco Inc. has a market cap of $346.6 million; its shares were traded at around $15.01 with a P/E ratio of 19.2 and P/S ratio of 0.6.

New Purchase: Diana Containerships Inc. (DCIX)

Chuck Royce initiated holdings in Diana Containerships Inc. His purchase prices were between $11.74 and $12.99, with an estimated average price of $12.32. The impact to his portfolio due to this purchase was 0.01%. His holdings were 208,680 shares as of 03/31/2011.

Diana Containerships Inc. is primarily focused on the worldwide transportation of container cargoes and owns and operates two 3,426 TEU containerships. Diana Containerships Inc. has a market cap of $73.3 million; its shares were traded at around $12 with and P/S ratio of 12.8.

New Purchase: Hill International Inc. (HIL)

Chuck Royce initiated holdings in Hill International Inc. His purchase prices were between $4.82 and $6.9, with an estimated average price of $6.07. The impact to his portfolio due to this purchase was 0.01%. His holdings were 411,400 shares as of 03/31/2011.

Hill International provides program management, project management, construction management and construction claims and consulting services to clients worldwide, but primarily in the United States, Europe, the Middle East/North Africa and Asia/Pacific. Hill International Inc. has a market cap of $168.3 million; its shares were traded at around $4.4 with a P/E ratio of 29.4 and P/S ratio of 0.4. Hill International Inc had an annual average earnings growth of 5% over the past 5 years.

New Purchase: Vitesse Semiconductor Corp. (VTSS)

Chuck Royce initiated holdings in Vitesse Semiconductor Corp. His purchase prices were between $4.86 and $5.49, with an estimated average price of $5.11. The impact to his portfolio due to this purchase was 0.01%. His holdings were 681,758 shares as of 03/31/2011.

Vitesse Semiconductor is a supplier of high-performance integrated circuits targeted at systems manufacturers in the communications and automatic test equipment markets. Vitesse Semiconductor Corp. has a market cap of $114.3 million; its shares were traded at around $4.7143 with and P/S ratio of 0.7.

New Purchase: Haverty Furniture Cos. Inc. (HVT)

Chuck Royce initiated holdings in Haverty Furniture Cos. His purchase prices were between $11.22 and $13.57, with an estimated average price of $12.55. The impact to his portfolio due to this purchase was 0.01%. His holdings were 216,400 shares as of 03/31/2011.

Haverty Furniture Companies Inc. is a full-service home furnishings retailer. Haverty Furniture Cos. has a market cap of $259.4 million; its shares were traded at around $11.86 with a P/E ratio of 49.4 and P/S ratio of 0.4.

New Purchase: Greatbatch Inc. (GB)

Chuck Royce initiated holdings in Greatbatch Inc. His purchase prices were between $22.94 and $26.33, with an estimated average price of $24.4. The impact to his portfolio due to this purchase was 0.01%. His holdings were 132,900 shares as of 03/31/2011.

Greatbatch Inc. is a developer and manufacturer of critical components used in implantable medical devices and other technically demanding applications. Greatbatch Inc. has a market cap of $635.4 million; its shares were traded at around $27.22 with a P/E ratio of 16.4 and P/S ratio of 1.2. Greatbatch Inc. had an annual average earnings growth of 4.8% over the past 10 years.

New Purchase: Bg Medicine Inc. (BGMD)

Chuck Royce initiated holdings in Bg Medicine Inc.. His purchase prices were between $7.71 and $9.09, with an estimated average price of $8.34. The impact to his portfolio due to this purchase was 0.01%. His holdings were 453,950 shares as of 03/31/2011.

Bg Medicine Inc. operates as a life sciences company focused on the discovery, development, and commercialization of novel diagnostic tests based on biomarkers. Bg Medicine Inc. has a market cap of $140.1 million; its shares were traded at around $7.3 with and P/S ratio of 171.1.

New Purchase: Bcd Semiconductor Manufacturing Ltd. (BCDS)

Chuck Royce initiated holdings in Bcd Semiconductor Manufacturing Ltd. His purchase prices were between $8.09 and $11.62, with an estimated average price of $10.04. The impact to his portfolio due to this purchase was 0.01%. His holdings were 302,300 shares as of 03/31/2011.

Bcd Semiconductor Manufacturing Ltd. is engaged in the design, manufacture and sale of a broad range of power management analog integrated device in the Asian electronics industry.

Rating: 2.3/5 (12 votes)

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