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Columbia Wanger’s Third Quarter Selling

November 20, 2013 | About:

Sally Jones

49 followers
Columbia Wanger Asset Management is averaging a 12-month return of 19.09%, according to the GuruFocus Scoreboard. The updated portfolio lists 296 stocks, 16 of them new, a total value of $24.82 billion, and a quarter-over-quarter turnover of 6%. The portfolio is weighted with the top three sectors: industrials at 25.7%, technology at 19.1% and consumer cyclical at 13.4%. Here are the details on four high-impact sells made by Columbia Wanger in the third quarter of 2013, starting with Lululemon Athletica Inc., the yoga and athletic apparel company that has had a string of quality issues. The company reported financial results for the second quarter fiscal 2013, ended Aug. 4, 2013, with net revenue at $344.5 million, up 22% from last year’s same quarter at $282.6 million. The company’s gross profit was $186 million, an increase of 19%. Earnings of $0.39 per diluted per share for the quarter were based on a quarterly net income of $56.5 million, down from $57.2 million in the same quarter of fiscal 2012.

Lululemon Athletica Inc. (LULU): Sold Out

Impacts Portfolio: -0.6%

Down 7% over 12 months, Lululemon Athletica Inc. has a market cap of $9.69 billion; its shares were traded at around $66.75 with a P/E ratio of 36.10. The company does not pay a dividend.

Check out the GuruFocus analysis of LULU.

Guru Action: As of Sept. 30, 2013, Columbia Wanger sold out its holding, selling 2,090,643 shares at an average price of $69.73, for a loss of 4.3%.

Across five years of trading, Columbia Wanger made some phenomenal gains in eight quarters of triple-digit gains. The highest gain was 1,079.3% selling 1,400,000 shares at an average price of $5.66 in the fourth quarter of 2008. The holding began its first sharp drop to the negative side in the second quarter of 2012, taking a loss of 5.2%. At that point Columbia Wanger sold 834,000 shares at an average price of $70.44, resulting in the loss.

Check out more guru trading and insider selling.

Track share pricing, revenue and net income:

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Onyx Pharmaceuticals Inc. (ONXX): Sold Out

Impacts Portfolio: -0.43%

Up 67% over 12 months, Onyx Pharmaceuticals Inc. has a market cap of $9.16 billion; its shares were traded at around $124.70 with a P/B ratio of 7.95. The company does not pay a dividend.

Here’s the GuruFocus analysis of ONXX with eight warnings.

Guru Action: As of Sept. 30, 2013, Columbia Wanger sold out its holding, selling 1,127,000 shares at an average price of $126.73, for a loss of 1.6%.

Across 14 quarters of trading, 11 quarters had triple-digit gains for Columbia Wanger. Check out this remarkable trading history:

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The highest gain of 400.4% was made in the third quarter of 2012 when the firm bought 381,800 shares at an average price of $24.92 per share.

Columbia Wanger is one of five gurus selling out ONXX in third quarter.

Two gurus made new buys; there is insider selling.

Track share pricing, revenue and net income:

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Albemarle Corp. (ALB): Sold Out

Impacts Portfolio: -0.37%

Up 19% over 12 months, Albemarle Corp. has a market cap of $5.47 billion; its shares were traded at around $67.22 with a P/E ratio of 17.80. The dividend yield is 1.40%.

Here’s the GuruFocus analysis and warnings for ALB.

Guru Action: As of Sept. 30, 2013, Columbia Wanger sold out its holding, selling 1,373,000 shares at an average price of $62.99, for a gain of 6.7%, a rare low in five years of only gains.

The highest gaining quarters of this holding were the fourth quarter of 2008 and the first quarter of 2009 when Columbia Wanger averaged 207.9% and 218.1%, respectively.

Check out more guru trading and insider selling.

Track share pricing, revenue and net income:

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Tower Group International Ltd. (TWGP): Sold Out

Impacts Portfolio: -0.36%

Down 77% over 12 months, Tower Group International Ltd., an insurance company, has a market cap of $226.86 million; its shares were traded at around $3.95 with a P/B ratio of 0.13. The dividend yield is 17.80%.

Check out the GuruFocus analysis and warnings.

Guru Action: As of Sept. 30, 2013, Columbia Wanger sold out its holding, selling 4,064,070 shares at an average price of $16.75, for a loss of 76.4%.

Holding for 17 losing quarters, Columbia Wanger has lost around 80% on this holding in every quarter of the trading history.

Here’s more recent guru trading and insider selling.

Track share pricing, revenue and net income since 2004:

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Check out more third quarter sells by Columbia Wanger.



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: 1.0/5 (1 vote)

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