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Steven Cohen Makes Two Real Time Increases

August 29, 2013 | About:
Monica Wolfe

Monica Wolfe

122 followers
Over the past week GuruFocus Real Time Picks has reported that Steven Cohen has increased his position in two different companies. The guru has recently had a lot of money pulled out from under his fund SAC Capital’s management as a result of several insider trading lawsuits.

Cohen’s second quarter portfolio reported 1,621 stocks valued at over $18 billion. This is down from Cohen’s first quarter portfolio which held a smaller 1,498 stocks valued at $20.7 billion.



Diamond Foods (DMND)

On Aug. 27 Cohen increased his position in Diamond Foods by a notable 205.64%. The guru bought a total of 766,000 shares. Cohen bought these shares at an average price of $20.67 per share, and since then the share price has increased approximately 3%.

Cohen bought back into Diamond Foods during the second quarter. He now holds on to 1,138,500 shares of Diamond Foods, representing approximately 5.11% of the company’s shares outstanding.

Cohen’s holding history as of the close of the second quarter:

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Diamond Foods is a packaged food company that holds the brands Kettle Chips, Emerald snack nuts, Pop Secret popcorn and Diamond of California nuts.

Diamond Foods’ historical revenue and net income:

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The company recently appointed a new CFO. Raymond Silcock was named executive VP and chief financial officer as of June 11.

Diamond Foods also announced their proposed agreement to settle a private securities class action suit filed against them. The company proposed to pay a total of $11 million in cash and issue 4.45 million shares of commons stock to a settlement fund in order to resolve all claims asserted on behalf of investors who acquired Diamond stock between Oct. 5, 2010, and Feb. 8, 2012. You can read the full press release here.

Diamond Foods has a market cap of $475.9 million. Its shares are currently trading at around $21.29 with a P/E ratio of 43.80, a P/S ratio of 0.60 and a P/B ratio of 1.50.

NQ Mobile (NQ)

On Aug. 28 Cohen upped his holdings in NQ Mobile by a massive 150411%. The guru bought 1,504,210 shares at an average price of $16.76 per share. The price is about the same today.

Cohen initially bought 900 shares during the first quarter and since then he has seen gains of around 131.9%. He now holds on to a total of 1,505,110 shares of NQ Mobile. His position in the company represents 3.47% of the company’s shares outstanding.

Cohen’s holding history of NQ Mobile as of the second quarter:

1377808812727.png

NQ Mobile is a global provider of mobile internet services. The company provides mobile security with a proven competency to acquire, engage and monetize customers globally. NQ Mobile’s portfolio includes mobile security and mobile games as well as advertising agents.

NQ Mobile’s historical revenue and net income:

1377809814743.png

The company recently released its second quarter results which highlighted:

· Record net revenues of $41.4 million, up 107.4% year-over-year.

· Non-GAAP Net income was $15.0 million, up 111.1% year-over-year.

· Non-GAAP fully diluted earnings of $0.26 per share.

· GAAP fully diluted earnings of $0.03 per share.

The company is currently used by most cell phone companies. NQ Mobile’s partners include Samsung, Blackberry, Motorola, Nokia, HTC and China Mobile.

NQ Mobile has a market cap of $812.1 million. Its shares are currently trading at around $16.77 with a P/E ratio of 92.60, a P/S ratio of 7.10 and a P/B ratio of 3.10.

Check out Steven Cohen’s second quarter portfolio here.

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