Earlier this week Richard Blum reduced his CECO position by 6.44% on March 4, 2013, and yesterday, he reduced shares again by 10.41%, bringing his current shares to 11,189,211. CECO’s current price is $2.65, a 4% change from average, and a 43% discount to its net cash position. However, according to a recent GuruFocus feature on CECO, “The company's substantial cash holdings, however, suggest the upside to such an investment is higher than the downside is low.” Read the full article:
A top stock picker of 2012, Richard Blum is among a number of Gurus who have reduced or sold out their CECO shares since September 2012. Other Gurus who sold out at year end include Jeff Auxier and Joel Greenblatt; Chuck Royce also reduced his CECO shares by 96.59% in the quarter ended Dec. 31, 2012. Investor Gurus Paul Tudor Jones and Steven Cohen unloaded their CECO shares in the quarter ended Sept. 30, 2012. Richard Blum achieved among the highest average return over 12 months in 2012, at 55.2%, according to the GuruFocus Score Board of Gurus.
Here’s the latest summary of Richard Blum’s top buys, top sales and top holdings.
See a detailed analysis of CECO.
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