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Four Sellouts by Oaktree Capital

November 11, 2013 | About:
Sally Jones

Sally Jones

49 followers
The third quarter portfolio changes of Oaktree Capital, managed by chairman Howard Marks, include sellouts of Constellium NV (CSTM), Grupo Financiero Santander Mexico SAB de CV (BSMX), Genco Shipping & Trading Ltd. (GNK) and POSCO (PKX), among others. Here are the trading summaries and updates on four companies sold by Guru Marks, as of Sept. 30, 2013.

Constellium NV (CSTM): Sold Out

Impacts Portfolio: -0.11%

Up 27% over 12 months, Constellium NV, a manufacturer of aluminum products for industrial markets, has a market cap of $1.92 billion; its shares trade with a P/E ratio of 55.40. The company does not pay a dividend.

Guru Action: After holding for two quarters, as of Sept. 30, 2013, Howard Marks sold out his CSTM holding. He sold 331,082 shares at an average price of $18.18 per share, taking a gain of 1.4%. In the previous quarter, he made a new buy of 331,082 shares at an average price of $15.08 per share, for a gain of 22.2%.

The current share price is around $18.43, with a change from average up 1%.

As of June 30, 2013, Steven Cohen holds 507,300 shares. There is no insider activity found.

Track historical pricing, revenue and net income:

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Grupo Financiero Santander Mexico SAB de CV (BSMX): Sold Out

Impacts Portfolio: -0.09%

Down 2% over 12 months, Grupo Financiero Santander Mexico SAB de CV, a Latin American bank, has a market cap of $18.26 billion; its shares trade with a P/E ratio of 9.50. The dividend yield is 1.60%.

Guru Action: As of Sept. 30, 2013, Howard Marks sold out his holding, selling 300,800 shares at an average price of $14.34 per share, taking a loss of 6%.

The current share price is around $13.48, with a change from average down 6%.

Howard Marks held for three quarters total, making a new buy of 272,800 shares at an average price of $14.61, for a loss of 7.7% in the fourth quarter of 2012. In the second quarter of 2013, he bought 28,000 shares at an average price of $15.57 per share, taking a loss of 13.4%.

Check out four guru stakeholders. There is no insider activity found.

Track historical pricing, revenue and net income since 2012:

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Genco Shipping & Trading Ltd. (GNK): Sold Out

Impacts Portfolio: -0.05%

Up 7% over 12 months, Genco Shipping & Trading Ltd., a worldwide shipper of iron ore, coal, grain, steel products and other drybulk cargo, has a market cap of $135.2 million; its shares trade with a P/B ratio of 0.10. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Howard Marks sold out his GNK holding, selling 1,512,532 shares at an average price of $2.70 per share, for a gain of 13%, the first gain in a five-year trading history of losses.

The current share price is around $3.05, with a change from average up 13%.

Check out a few more guru stakeholders of GNK, as of the second quarter of 2013.

There is no recent insider activity.

Track historical pricing, revenue and net income:

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POSCO (PKX): Sold Out

Impacts Portfolio: -0.02%

Up 1% over 12 months, POSCO, a Korean steel company, has a market cap of $23.38 billion; its shares trade with a P/E ratio of 14.10. The dividend yield is 2.20%.

Guru Action: As of Sept. 30, 2013, Howard Marks sold out his PKX holding, unloading 14,809 shares at an average price of $72.70 per share, for a gain of 4.1%.

The current share price is around $75.69, with a change from average up 4%.

With losses in five out of seven quarters of holding history, Howard Marks dipped the lowest with a loss of 28.9% in the fourth quarter of 2010 when he sold 67,192 shares at an average price of $106.37 per share. His highest gain of 7.3% was in the second quarter of 2013 when he bought 6,184 shares at an average price of $70.51 per share.

Read about Arnold Van Den Berg’s new buy of PKX in the third quarter.

Check out the PKX holdings of more guru stakeholders.

There is no insider activity found.

Track historical pricing, revenue and net income:

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Howard Marks is the chairman of Oaktree Capital. His updated portfolio lists 77 stocks, 9 of them new, and a total value at $5.2 billion. The quarter-over-quarter turnover is 9%. The portfolio is weighted with financial services at 8.6%, energy at 6% and consumer cyclical at 3.9%. Howard Marks has averaged a return of 8.1% over 12 months.

Read the complete portfolio update of Howard Marks.





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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: 3.0/5 (1 vote)

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