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Cooperman Announces New Buys in Positive Outlook for Market

February 14, 2014 | About:
Holly LaFon

Holly LaFon

272 followers
Leon Cooperman (Trades, Portfolio), legendary investor and founder of Omega Advisors, released his fourth quarter portfolio today. The guru bought 16 new stocks, raising his total number of holdings to 77, in a portfolio worth $7.05 billion.

Cooperman’s prognosis for the market in the year 2014 is positive, as he perceives the recent downturn as a short-term correction rather than the start of a bear market, he told Bloomberg on Feb. 6.

“I think for the year 2014, the S&P will be plus or minus 200 points, around 1800… on the plus side for the market, bull markets don’t die from old age. They die from excesses and recession. There is no recession in the cards for 2014, as best as we can see,” the investor said.

Cooperman also looks for stocks trading at discounts to their intrinsic value. Below are his top purchases for the fourth quarter.

Gaming and Leisure Properties Inc. (GLPI)

Cooperman reported owning 2,221,587 shares of Gaming and Leisure Properties, a position worth 1.6% of the portfolio. The stock’s average price per share was $47 in the fourth quarter.

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Gaming and Leisure Properties Inc. spun off from Penn National Gaming Inc. in Nov. 1, 2013, and became the first gaming-focused real estate investment trust. It has a market cap of $3.41 billion, and its shares were traded at around $38.30.

SunEdison Inc. (SUNE)

Cooperman purchased 8,103,148 shares of SunEdison in a position representing 1.5% of the portfolio. The stock’s price averaged $11 in the fourth quarter.

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SunEdison Inc., formerly Memc Electronic Material, was formed in 1984 as a Delaware corporation and completed its initial public stock offering in 1995. SunEdison Inc. has a market cap of $3.78 billion; its shares were traded at around $14.18 with and P/S ratio of 1.60.

T-Mobile US Inc. (TMUS)

Cooperman bought 3,040,145 shares of T-Mobile US, representing 1.5% of his portfolio. The price averaged $27 in the fourth quarter.

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T-Mobile US Inc. is a Delaware corporation and, formerly, a direct wholly-owned subsidiary of T-Mobile Holding. T-Mobile US Inc. has a market cap of $24.83 billion; its shares were traded at around $31.26 with a P/E ratio of 235 and P/S ratio of 0.90. T-Mobile US Inc. had an annual average earnings growth of 18.70% over the past five years.

InternationalExchange Group Inc. (ICE)

Cooperman bought 427,770 shares of InternationalExchange Group Inc. in the fourth quarter, for a 1.4% position in his portfolio. The average price in quarter four was $206.

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IntercontinentalExchange Inc., a Delaware corporation was established in May 2000. IntercontinentalExchange Group Inc. has a market cap of $24.7 billion; its shares were traded at around $214.71 with a P/E ratio of 28.10 and P/S ratio of 11.40. The dividend yield of IntercontinentalExchange Group Inc. stocks is 0.30%. IntercontinentalExchange Group Inc. had an annual average earnings growth of 40.00% over the past 10 years. GuruFocus rated IntercontinentalExchange Group Inc. the business predictability rank of 3.5-star.

Cameron International Corp. (CAM)

Cooperman purchased 1,425,000 shares of Cameron International Corp., for a 1.2% portfolio weight. Its average share price was $58 in the fourth quarter.

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Cooper Cameron Corp., a Delaware corporation, was incorporated on Nov. 10, 1994. Cameron International Corp. has a market cap of $14.57 billion; its shares were traded at around $61.26 with a P/E ratio of 21.40 and P/S ratio of 1.60. Cameron International Corp. had an annual average earnings growth of 20.60% over the past 10 years. GuruFocus rated Cameron International Corp. the business predictability rank of 2-star.

To see more of Cooperman’s buys and sells, visit his portfolio here. Not a Premium Member of GuruFocus? Try it free for 7 days here!


Rating: 4.0/5 (3 votes)

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