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Magic Joel Greenblatt on a Spree in Second Quarter, Reduction Highlights

Sally Jones

Sally Jones

49 followers
Inventor of Magic Formula Investing, Joel Greenblatt of Gotham Capital made hundreds of trades in the second quarter of 2013. His portfolio currently lists 840 stocks, and 165 of them are new. The Gotham Capital portfolio lists a total value of $2.34 billion with a quarter-over-quarter turnover of 32%. Here’s a close-up look at six major reductions out of hundreds made by Joel Greenblatt in the second quarter:

Sun Hydraulics Corp. (SNHY): Reduced

Up 25% over 12 months, Sun Hydraulics Corp. has a market cap of $787.4 million; its shares were traded at around $30.00 with a P/E ratio of 21.20.

The dividend yield of SNHY is 1.20%.

Guru Action: As of June 30, 2013, Greenblatt reduced his position by 53.94%, selling 28,037 shares at an average price of $31.87, taking a loss of 5.9%.

He has averaged a gain of 14% on 70,218 shares bought at an average price of $26.28 per share. On shares sold, he averaged a loss of 2% on 46,276 shares sold at an average price of $30.69 per share.

His current shares stand at 23,942.

His trading history:

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General Cable Corporation (BGC): Reduced

Up 10% over 12 months, General Cable has a market cap of $1.53 billion; its shares were traded at around $30.94 with a P/E ratio of 191.00 and a P/B of 1.20. The dividend yield of BGC is 1.17%.

Guru Action: As of June 30, 2013, Greenblatt reduced his position by 61.48%, selling 27,075 shares at an average price of $33.47, taking a loss of 7.6%.

He has averaged a gain of 12% on 195,546 shares bought at an average price of $27.68 per share. On shares sold, he averaged a loss of 6% on 178,584 shares sold at an average price of $33.03 per share.

His current shares stand at 16,962.

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Actuant Corporation (ATU): Reduced

Up 24% over 12 months, Actuant Corp has a market cap of $2.6 billion; its shares were traded at around $35.61 with a P/E ratio of 1,483.70 and a P/B of 2.50. The dividend yield of ATU is 0.11%.

Guru Action: As of June 30, 2013, Greenblatt reduced his position by 44.25%, selling 32,116 shares at an average price of $32.01, for a gain of 11.2%.

He has averaged a gain of 31% on 95,426 shares bought at an average price of $27.21 per share. On shares sold, he averaged a gain of 14% on 54,964 shares sold at an average price of $31.21 per share.

His current shares stand at 40,462.

ATU revenue versus net income:

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USA Mobility Inc. (USMO): Reduced


Up 26% over 12 months, USA Mobility has a market cap of $307.81 million; its shares were traded at around $14.22 with a P/E ratio of 13.10. The dividend yield of USMO is 3.52%.

Guru Action: As of June 30, 2013, Greenblatt reduced his position by 77.08%, selling 76,585 shares at an average price of $13.30, for a gain of 6.9%. He has averaged a gain of 16% on 99,359 shares bought at an average price of $12.24 per share.

His current shares stand at 22,774.

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Vasco Data Security (VDSI): Reduced


Down 20% over 12 months, Vasco Data Security has a market cap of $316.26 million; its shares were traded at around $8.01 with a P/E ratio of 27.40 and a P/B of 2.00.

Guru Action: As of June 30, 2013, Greenblatt reduced his position by 60.49%, selling 114,027 shares at an average price of $8.39, for a loss of 4.5%.

He has averaged a gain of 4% on 188,490 shares bought at an average price of $7.69 per share.

His current shares stand at 74,463.

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Acxiom Corporation (ACXM): Reduced


Up 47% over 12 months, Acxiom Corporation has a market cap of $1.84 billion; its shares were traded at around $24.98 with a P/E ratio of 33.40 and a P/B of 3.00.

Guru Action: As of June 30, 2013, Greenblatt reduced his position by 53.88%, selling 49,989 shares at an average price of $20.96, for a gain of 19.2%.

He has averaged a gain of 82% on 190,629 shares bought at an average price of $13.70 per share. On shares sold, he averaged a gain of 35% on 147,841 shares sold at an average price of $18.57 per share.

His current shares stand at 42,788.

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Guru and author Joel Greenblatt invented Magic Formula Investing. He is the founder and managing partner of Gotham Capital, and founder of the New York Securities Auction Corporation (NYSAC).



Study the rest of Joel Greenblatt’s second quarter trades.

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 3.5/5 (2 votes)

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