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Gabelli and RS Investment Management Highlight Guru Real Time Transactions of the Week

April 11, 2014 | About:
Monica Wolfe

Monica Wolfe

127 followers

The following information is a highlight of the real-time guru activity we saw this week. To view more information on these gurus, check out their guru portfolios. The “Real Time Picks” reports the stock purchases and sells that Gurus have made within the prior two weeks. If a Guru makes a purchase or sell of a company in which they own a greater-than 5% stake, SEC regulations require them to report their transaction within two days. This week we saw notable increases and buys in Real Time activity from Mario Gabelli (Trades, Portfolio) and RS Investment Management (Trades, Portfolio).

RS Investment Management (Trades, Portfolio)

On April 9, RS Investment Management (Trades, Portfolio) upped their holdings in LogMeIn (LOGM). The fund upped their stake 64.84% by purchasing a total of 1,003,396 shares of the company’s stock. The guru-rated fund purchased these shares at approximately $42 per share, and since then the price per share has dropped -3% to $40.62 per share.

RS Investment Management (Trades, Portfolio) now maintains 2,550,962 shares, representing 10.51% of the company’s shares outstanding.

RS Investment Management (Trades, Portfolio)’s historical holding history of LogMeIn as of the fourth quarter:

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LogMeIn develops and markets a suite of remote access and support solutions that provide instant, secure connections between internets enabled devices. It provides on-demand, remote-connectivity solutions to small and medium-sized businesses, or SMBs, IT service providers and consumers.

LogMeIn’s historical revenue and net income:

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The company is set to announce their first quarter 2014 financial results after the close of market on Tuesday, April 29, 2014.

Most recently the company announced that they set up a new enterprise program which is a file-sync-and-store business. This enterprise version was designed in order to place them in a more competitive atmosphere with Dropbox. Michael Simon, CEO of LogMeIn, said that the company is able to combine the ease-of-use required by consumers that are accustomed to Dropbox, with administrative management capabilities required by IT.

The company was also named to one of the world’s top ten most innovative companies in the internet of things by Fast Company.

The analysis on LogMeIn reports that the company holds no debt, its asset growth is faster than its revenue growth and its price is trading near a 5-year high.

LogMeIn has a market cap of $979 million. Its shares are currently trading at around $40.44 with a P/S ratio of 5.90 and a P/B ratio of 5.70.

Mario Gabelli (Trades, Portfolio)

Mario Gabelli (Trades, Portfolio) made three real time transactions over the past week.

On April 3, Gabelli added to his stake in Bassett Furniture (BSET). The guru upped his holdings 23.34% by purchasing a total of 103,267 shares of the company’s stock. The guru purchased these shares at an average price of $14.67 per share, and since then the price per share has dropped approximately -6%.

Mario Gabelli (Trades, Portfolio)’s holding history of Bassett Furniture as of the fourth quarter:

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Mario Gabelli (Trades, Portfolio) now holds on to 545,692 shares of Bassett Furniture stock, representing 5.03% of the company’s shares outstanding.

Bassett Furniture is a manufacturer, importer and retailer of high quality, mid-priced home furnishings. It has strategically aligned its business into three reportable segments: Wholesale, Retail and Investments and Real Estate.

Bassett Furniture has a market cap of $149.1 million. Its shares are currently trading at around $13.75 with a P/E ratio of 29.20, a P/S ratio of 0.50.

On April 7, Gabelli upped his stake in Journal Communications (JRN). The guru upped his stake a smaller 8.63% by adding 453,895 shares. He bought these shares at $8.23 per share, and since his buy the price per share is up approximately 2% to $8.38 per share.

Gabelli now holds on to 5,710,458 shares of Journal Communications’ stock, representing 11.21% of the company’s shares outstanding.

Gabelli’s holding history as of the close of the fourth quarter:

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Journal Communications was founded in 1882 as a newspaper publisher serving Milwaukee, Wisconsin. The company’s current reportable business segments are: broadcasting, publishing, and corporate.

Journal Communications has a market cap of $425.3 million. Its shares are currently trading at around $8.37 with a P/E ratio of 16.20, a P/S ratio of 1.10 and a P/B ratio of 1.60. The company had an annual average earnings growth of 16.30% over the past five years.

On April 10, Gabelli cut his holdings in Churchill Downs (CHDN) by a minor -0.99%. In this reduction, Gabelli sold a total of 9,041 shares of the company’s stock at approximately $85.82 per share. Since this transaction the price per share is trading around the same price.

Gabelli now holds on to 906,443 shares, representing 5.06% of the company’s shares outstanding.

Gabelli’s historical holding history:

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Churchill Downs is a provider of pari-mutuel horse racing content and technology for consumers and businesses through multiple platforms. It manages its operations through four operating segments: Racing Operations; Online Business; Gaming; and Other Investments.

Churchill Downs has a market cap of $1.53 billion. Its shares are currently trading at around $85.50 with a P/E ratio of 27.90, a P/S ratio of 2.00 and a P/B ratio of 2.10. Churchill Downs had an annual average earnings growth of 10.50% over the past ten years.

GuruFocus rated Churchill Downs the business predictability rank of 2.5-star.

Check out more guru real time picks here.

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