Mario Gabelli (Trades, Portfolio) is the founder, chairman, and CEO of Gabelli Asset Management Company Investors (GAMCO Investors), a $30 billion global investment firm headquartered in Rye, New York.
Gabelli's activity
The investor reported increasing his stake in Jason Industries Inc (JASN, Financial) on April 7, according to GuruFocus Real Time Picks.
With the transaction, Gabelli’s position increased by 49.38% to 1,792,537 shares. The fund initiated a position in the second quarter of 2014 and this year Mr. Gabelli added twice the stake to reach that level of shares, worth $14 million. We can appreciate the history movements in the next chart:
| Period/Date | Bought/(Sold) | Qtr. End Shares |
| 2014Q2 | New Buy | 14,000 |
| 2014Q3 | 4,900 | 18,900 |
| 2014Q4 | (6,700) | 12,200 |
| 20 March 2015 | 1,187,800 | 1,200,000 |
| 07 April 2015 | 592,537 | 1,792,537 |
The company
The company engages in the manufacture of seating, finishing, acoustics, and components in the U.S. and internationally. It has a $155.7 million market cap. Jason's growth strategy is based on strategic acquisitions. Recently, it has acquired the manufacturing assets of Herold Partco.
Jason’s shares lost 24.17% during the past year and closed 2014 at a price of $9.85 each. The last closing price is at $7.75 and it is close to 2-year low. Since Gabelli´s last purchase of shares, it is up by 14.14%.
Outlook
For fiscal 2015, the firm expects revenue growth between 1% and 3%, with net sales in the range of $710 to $725 million, from actual net sales of $702.5 million for the full year 2014; and Adjusted EBITDA in the range of $84 to $90 million from $77.8 million.
Relative Valuation
In terms of valuation, the stock sells at a price-to-book ratio of 1.74x, which is close to a two-year low of 1.3x; and price-to-sales ratio is 1.13x is close to a one-year low of 1.0x.
Hedge fund position
The largest shareholder of the company is Nelson Obus’ Wynnefield Capital, which upped its stake by 86% on the quarter to 2.12 million shares held as of the end of 2014.
Disclosure: Omar Venerio holds no position in any stocks mentioned
