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Eton Park Review - Eric Mindich Sells NLSN, FOXA, PCLN, DG, Others

November 19, 2013 | About:
Sally Jones

Sally Jones

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Eton Park's Eric Mindich is averaging a 12-month return of 30.64%, according to the GuruFocus Scoreboard. The multi-strategy hedge fund Eton Park Capital Management LP has an updated portfolio of 39 stocks, nine of them new, a total value at $4.5 billion, with a quarter-over-quarter turnover of 17%. The portfolio is weighted with top three sectors: consumer cyclical at 24.8%, communication services at 19.4% and consumer defensive at 16.1%.

Here are four high-impact sells made by Eric Mindich in the third quarter of 2013, starting with his major impact sell out of Nielsen Holdings NV (NLSN), recently completing its acquisition of Arbitron. The company reported third quarter 2013 financial results with revenue of $1.38 billion, up 2.7%. Nielsen’s adjusted EBITDA increased by 4.2% for the quarter, at $398 million. Up 52.3% for the third quarter of 2013, the company’s income from continuing operations was $131 million. Adjusted net income was reported at $193 million or $0.50 per share, reflecting an increase of 17%.

Nielsen Holdings NV (NLSN): Sold Out

Impacts Portfolio: -5.1%

Up 48% over 12 months, Nielsen Holdings NV, a global information and measurement company that provides clients with an understanding of consumer behavior, has a market cap of $15.37 billion; its shares were traded at around $40.69 with a P/E ratio of 24.40. The dividend yield is 1.30%.

Guru Action: As of Sept. 30, 2013, Eric Mindich sold out his NLSN holding, selling 8 million shares at an average price of $34.33, for a gain of 18.5%.

Mindich traded NLSN in four gaining quarters, starting with a new buy of 12 million shares in the first quarter of 2011. He bought shares at an average price of $26.40 per share, for the holding’s highest gain of 54.1%.

Check out more guru trading and insider selling.

Track historical share pricing, revenue and net income:

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Twenty-First Century Fox Inc. (FOXA): Reduced

Impacts Portfolio: -3.43%

Current Shares: 11.5 million

Up 59% over 12 months, Twenty-First Century Fox Inc. has a market cap of $75.89 billion; its shares were traded at around $33.26 with a P/E ratio of 12.70. The dividend yield is 0.62%.

Guru Action: As of Sept. 30, 2013, Eric Mindich reduced his position by 32.35%, selling 5,500,000 shares at an average price of $31.48, for a gain of 7.2%.

Over a five-year history, Mindich averaged a 110% gain on 41.1 million shares bought at an average price of $16.07 per share. He gained 37% on 29.6 million shares bought at an average price of $24.62 per share.

Check out 12 gurus making new buys as of the third quarter of 2013.

Read an insider story here.

Track historical share pricing, revenue and net income:

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Priceline.com Inc. (PCLN): Sold Out

Impacts Portfolio: -3.3%

Up 76% over 12 months, Priceline.com Inc. has a market cap of $57.52 billion; its shares were traded at around $1,118.42 with a P/E ratio of 32.40. The company does not pay a dividend yield.

Guru Action: As of Sept. 30, 2013, Eric Mindich sold out his PCLN, selling 207,500 shares at an average price of $935.28, for a gain of 19.6%.

In four gaining quarters, his highest gain of 80.4% was made on a new buy of 175,000 shares in the fourth quarter of 2012 when he bought at an average price of $619.95 per share.

Check out more recent guru trading and insider selling.

Track historical share pricing, revenue and net income:

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Dollar General Corporation (DG): Reduced

Impacts Portfolio: -1.92%

Current Shares: 3 million

Up 23% over 12 months, Dollar General Corporation has a market cap of $19 billion; its shares were traded at around $58.70 with a P/E ratio of 19.50. The company does not pay a dividend yield.

Guru Action: As of Sept. 30, 2013, Eric Mindich reduced his position by 40%, selling 2 million shares at an average price of $54.96, gaining 6.8%.

Overall, Mindich averaged a 31% gain on 6,500,000 shares bought at an average price of $44.84 per share. He also gained 11% on 3.5 million shares sold at an average price of $52.98 per share.

Here are more active gurus and insiders.

Track historical share pricing, revenue and net income:

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The hedge fund Eton Park was founded by Eric Mindich in 2004 as a global, multi-disciplinary, team-oriented investment organization. The firm seeks to provide superior, risk-adjusted returns over the long term.

Here are all of the latest sells by Eric Mindich.



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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."

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