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Michael Price’s Top Six Sells

August 20, 2013 | About:
Sally Jones

Sally Jones

49 followers
Renowned value investor and money manager, Michael F. Price is one of the richest people in the world, with a net worth of 1.3 billion as of March 2013, according to Forbes. Price manages his own personal wealth through his private firm, MFP Investors LLC, with around $1.6 billion under management. The updated portfolio of MFP Investors has 92 stocks, 10 of them new, a total value at $747 million, with a quarter-over-quarter turnover of 13%. The portfolio of MFP Investors is currently weighted with top three sectors: financial services at 33.8%, healthcare at 14.4% and consumer cyclical at 13.3%.

Here are six sells and reductions that made the highest impact on Michael Price’s portfolio in the second quarter of 2013.

Citigroup Inc. (C): Reduced

Impacts Portfolio: -2.22%

Up 63% over 12 months, Citigroup Inc. has a market cap of $152.21 billion; its shares were traded at around $50.05 with a P/E ratio of 16.10.

Guru Action: As of June 30, 2013, Michael Price reduced his position by 48.22%, selling 386,454 shares at an average price of $48.08, for a gain of 4%.

He has averaged a gain of 27% on 961,454 shares bought at an average price of $39.40 per share. On shares sold, he averaged a gain of 12% on 546,454 shares sold at an average price of $44.60 per share.

His current shares stand at 415,000.

Track historical pricing:

1377026282395.png

J. C. Penney Co. Inc. (JCP): Reduced

Impacts Portfolio: -1.32%

Down 42% over 12 months, J.C. Penney Co. has a market cap of $3.1 billion; its shares were traded at around $14.04 with a P/B ratio of 1.00.

Guru Action: As of June 30, 2013, Michael Price reduced his position by 88.08%, selling 665,000 shares at an average price of $16.83, for a loss of 20.7%.

He has averaged a loss of 59% on 1,150,000 shares bought at an average price of $32.50 per share. On shares sold, he averaged a loss of 44% on 1,060,000 shares sold at an average price of $23.96 per share.

His current shares stand at 90,000.

His JCP trading history shows only losses since the fourth quarter of 2010:

1377025069085.png

Icahn Enterprises LP (IEP): Sold Out[/b]

[b]Impacts Portfolio: -1.3%


Up 83% over 12 months, Icahn Enterprises has a market cap of $8.36 billion; its shares were traded at around $74.37 with a P/E ratio of 19.10.

Guru Action: As of June 30, 2013, Price sold out his position, selling 175,000 shares at an average price of $73.60, for a gain of 1%.

Track historical pricing:

1377026528267.png

Pfizer Inc. (PFE): Reduced[/b]

[b]Impacts Portfolio: -0.91%


Up 21% over 12 months, Pfizer Inc. has a market cap of $189.67 billion; its shares were traded at around $28.65 with a P/E ratio of 7.90.

Guru Action: As of June 30, 2013, Price reduced his position by 41.38%, selling 245,000 shares at an average price of $29.12, for a loss of 1.6%.

He has averaged a gain of 54% on 575,000 shares bought at an average price of $18.66 per share. On shares sold, he averaged a gain of 2% on 355,000 shares sold at an average price of $28.12 per share.

His current shares stand at 347,100.

1377026643825.png

Goldman Sachs Group (GS): Sold Out

Impacts Portfolio: -0.77%

Up 52% over 12 months, Goldman Sachs Group has a market cap of $71.74 billion; its shares were traded at around $159.75 with a P/E ratio of 9.80.

Guru Action: As of June 30, 2013, Price sold out his position, selling 40,000 shares at an average price of $152.51, for a gain of 4.7%.

Track historical pricing:

1377026782443.png

Alleghany Corp. DEL (Y): Reduced

Impacts Portfolio: -0.71%

Up 18% over 12 months, Alleghany Corp. has a market cap of $6.6 billion; its shares were traded at around $393.70 with a P/E ratio of 19.40.

Guru Action: As of June 30, 2013, Michael Price reduced his position by 15.38%, selling 13,544 shares at an average price of $387.58, for a gain of 1.6%.

He has averaged a gain of 28% on 88,044 shares bought at an average price of $307.85 per share. On shares sold, he averaged a gain of 2% on 13,544 shares sold at an average price of $387.58 per share.

His current shares stand at 74,500.

Track historical pricing:

1377026935044.png

Here is the complete portfolio of Michael Price.



Be sure to check out:

1. Michael Price's Undervalued Stocks

2. Michael Price's Top Growth Companies

3. Michael Price's High Yield stocks

4. Stocks that Michael Price keeps buying

Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.

GuruFocus Real Time Picks reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.

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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: 1.5/5 (4 votes)

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