Steve Mandel Acquires Stakes in Amazon.com and Constellation Brands

Guru adds to holdings in Electronic Arts and Valeant Pharmaceuticals

Dec 09, 2015

In the past Steve Mandel (Trades, Portfolio) of Lone Pine Capital has shown a preference for investments in technology, health care and financial services. All were represented in Mandel’s largest third-quarter transactions.

Mandel’s most noteworthy third-quarter deal was his purchase of a 1,937,002-share stake in Amazon.com Inc. (AMZN, Financial), a Seattle-based ecommerce company, for an average price of $505.62 per share. The acquisition had a 4.18% impact on Mandel’s portfolio.

Amazon.com has a market cap of $309.17 billion and an enterprise value of $299.33 billion. It has a P/E of 942.2, a forward P/E of 91.7, a P/B of 24.9 and a P/S of 3.2. GuruFocus has given Amazon.com a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10.

Amazon.com sold for $663.87 per share Wednesday.

Mandel acquired a 4,684,214-share stake in Constellation Brands Inc. (STZ, Financial), a Victor, New York-based beverage company, for an average price of $123.3 per share. The transaction had a 2.47% impact on Mandel’s portfolio.

Constellation Brands has a market cap of $27.47 billion and an enterprise value of $33.82 billion. It has a P/E of 29.0, a forward P/E of 28.5, a P/B of 4.5 and a P/S of 4.5. GuruFocus has given Constellation Brands a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.

On Wednesday Constellation Brands sold for $140.23 per share.

Mandel increased his stake in Electronic Arts Inc. (EA, Financial), a Redwood City, California-based video game and interactive entertainment company, by more than 1005%. Mandel purchased 7,988,172 shares for an average price of $70.08 per share. The deal had a 2.28% impact on Mandel’s portfolio.

Electronic Arts has a market cap of $20.82 billion and an enterprise value of $17.85 billion. It has a P/E of 26.9, a forward P/E of 24.8, a P/B of 6.6 and a P/S of 5.4. GuruFocus has gven Electronic Arts a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

Electronic Arts sold for $67.17 per share Wednesday.

Mandel increased his stake in Valeant Pharmaceuticals International Inc. (VRX, Financial), a Laval, Quebec-based pharmaceutical company, by more than 40%. Mandel bought 2,151,637 shares for an average price of $233.19 per share. The transaction had a 1.62% impact on Mandel’s portfolio.

Valeant Pharmaceuticals has a market cap of $31.96 billion and an enterprise value of $67.31 billion. It has a P/E of 60.2, a forward P/E of 6.0, a P/B of 5.1 and a P/S of 3.3. GuruFocus has given Valeant Pharmaceuticals a Financial Strength rating of 6/10 and a Profitability and Growth rating of 8/10.

On Wednesday Valeant Pharmaceuticals sold for $94.46 per share.

Mandel sold his 7,053,887-share stake in Lowe's Companies Inc. (LOW, Financial), a Mooresville, North Carolina-based home improvement and appliance retail chain, for an average price of $68.77 per share. The deal had a -1.77% impact on Mandel’s portfolio.

Lowe's Companies has a market cap of $69.57 billion and an enterprise value of $81.41 billion. It has a P/E of 23.9, a forward P/E of 23.4, a P/B of 8.5 and a P/S of 1.3. GuruFocus has given Lowe's Companies a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

Lowe’s Companies sold for $76.2 per share Wednesday.

Mandel sold his 5,007,242-share stake in HCA Holdings Inc. (HCA, Financial), a Nashville, Tennessee-based operator of health care facilities, for an average price of $88.55 per share. The divestiture had a -1.7% impact on Mandel’s portfolio.

HCA Holdings has a market cap of $27.37 billion and an enterprise value of $58.35 billion. It has a P/E of 14.0, a forward P/E of 11.7 and a P/S of 0.8. GuruFocus has given HCA Holdings a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.

Vanguard Health Care Fund (Trades, Portfolio), Larry Robbins (Trades, Portfolio), John Paulson (Trades, Portfolio), David Tepper (Trades, Portfolio), Jim Simons (Trades, Portfolio), John Hussman (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), David Dreman (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of HCA Holdings in their portfolios.

On Wednesday HCA Holdings sold for $67.31 per share.

Mandel reduced his stake in Illumina Inc. (ILMN, Financial), a San Diego-based biotechnology company, by more than 36%. Mandel sold 2,068,802 shares for an average price of $208.03 per share. The transaction had a -1.69% impact on Mandel’s portfolio.

Illumina has a market cap of $26.17 billion and an enterprise value of $26.57 billion. It has a P/E of 52.0, a forward P/E of 47.2, a P/B of 13.5 and a P/S of 12.7. GuruFocus has given Illumina a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

Illumina sold for $178.85 per share Wednesday.

Mandel reduced his stake in Realogy Holdings Corp. (RLGY, Financial), a Madison, New Jersey-based real estate company, by nearly 91%. The deal had a -1.65% impact on Mandel’s portfolio.

Realogy Holdings has a market cap of $5.79 billion and an enterprise value of $9.21 billion. It has a P/E of 29.9, a forward P/E of 22.2, a P/B of 2.4 and a P/S of 1.0. GuruFocus has given Realogy Holdings a Financial Strength rating of 5/10 and a Profitability and Growth rating of 4/10.

John Paulson (Trades, Portfolio), Larry Robbins (Trades, Portfolio), Manning & Napier Advisors Inc., Alan Fournier (Trades, Portfolio), Leon Cooperman (Trades, Portfolio), Third Avenue Management (Trades, Portfolio), Jim Simons (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Michael Price (Trades, Portfolio), George Soros (Trades, Portfolio), Steven Cohen (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of Realogy Holdings in their portfolios.

On Wednesday Realogy Holdings sold for $39.58 per share.

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