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Tiziano Frateschi
Tiziano Frateschi
Articles (993)  | Author's Website |

Mariko Gordon's Largest Cuts During the 3rd Quarter

Her most noteworthy reductions were Texas Capital, Insulet, Rogers

Mariko Gordon (Trades, Portfolio), CFA, reduced 10 of her existing stakes by more than 20% in the third quarter.

Gordon is the founder of Daruma Capital Management, which she founded in 1995 with zero assets.

She reduced her stake in Texas Capital Bancshares Inc. (TCBI) by 28.12% with an impact of 1.14% on the portfolio. The current stake is 3.44% of her total assets and 2.33% of the company’s outstanding shares.

GuruFocus gives Texas Capital a profitability and growth rating of 7 out of 10 with easy returns of ROE 9.28% and ROA 0.88% that are outperforming 51% of the companies in the Global Banks - Regional - U.S. industry. Financial strength has a rating of 6 out of 10 with a positive cash-to-debt of 1.47 that is slightly below the industry median of 1.69.

Texas Capital is a registered bank holding company and a financial holding company and is the parent of Texas Capital Bank, National Association. It offers personalized financial services to businesses and individual clients. The company had another good quarter of growth in loans, deposits and earnings in which mortgage finance loans decreased 12% on a linked-quarter basis and increased 14% from the third quarter of 2014.

The company's largest shareholder among the gurus is James Barrow (Trades, Portfolio) with 3.77% of outstanding shares. Other shareholders include John Keeley (Trades, Portfolio), who holds 1.81% of outstanding shares, and Ken Fisher (Trades, Portfolio) with 1.62%.

Gordon reduced her stake in Insulet Corp. (PODD) by 35.71% with an impact of 1% on the portfolio. The current stake is 2.11% of her total assets and 2.32% of the company’s outstanding shares.

GuruFocus gives Insulet a profitability and growth rating of 6 out of 10 with negative returns of ROE 69.66% and ROA 17.17% that are underperforming 88% of the companies in the Global Medical Instruments & Supplies industry. Financial strength has a rating of 6 out of 10 with cash-to-debt of 0.80 that is below the industry median of 1.42.

The company is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System; during the third quarter it reported a revenue increase of 16%.

PRIMECAP Management (Trades, Portfolio) is the company's largest shareholder among the gurus with 9.12% of outstanding shares followed by Gordon with 2.32%, Pioneer Investments (Trades, Portfolio) with 0.58% and Steven Cohen (Trades, Portfolio) with 0.04%.

She reduced her stake in Acxiom Corp. (ACXM) by 25.76% with an impact of 0.96% on the portfolio. The current stake is 4.33% of her total assets and 4.58% of the company’s outstanding shares.

GuruFocus gives Acxiom a profitability and growth rating of 5 out of 10 with weak returns of ROE 1.12% and ROA 0.61% that are underperforming 62% of the companies in the Global Information Technology Services industry. Financial strength has a rating of 6 out of 10 with cash-to-debt of 0.87 that is far below the industry median of 7.78.

The company is an enterprise data, analytics and software-as-a-service company. It serves clients from locations in the U.S., Europe, South America and the Asia-Pacific region. Its segments consist of Marketing and Data Services and IT Infrastructure Management.

Gordon is the largest shareholder among the gurus followed by Ron Baron (Trades, Portfolio), who holds 2.18% of outstanding shares, and Jim Simons (Trades, Portfolio) with 0.35%.

The guru reduced her stake in Beacon Roofing Supply Inc. (BECN) by 27.10% with an impact of 0.96% on the portfolio. The current stake is 3.53% of her total assets and 3% of the company’s outstanding shares.

GuruFocus gives Beacon Roofing a profitability and growth rating of 7 out of 10 with positive returns of ROE 7.41% and ROA 4.25% that are overperforming 52% of the companies in the Global Building Materials industry. Financial strength has a rating of 7 out of 10 with cash-to-debt of 0.20 that is below the industry median of 0.39.

The company is a distributor of residential and nonresidential roofing materials and other complementary building materials to customers in 42 states within the U.S. and six provinces in Canada. Recently it announced that it acquired Roofing & Insulation Supply, a distributor primarily of residential and commercial insulation along with roofing and related products with 20 branches spanning 13 states across New England, the Mid-Atlantic, the Southeast, the Upper Midwest, Texas and Colorado.

Gordon is the company's largest shareholder among the gurus, followed by Ken Fisher (Trades, Portfolio) with 2.9% of outstanding shares and Jim Simons (Trades, Portfolio) with 0.07%.

She reduced her stake in On Assignment Inc. (ASGN) by 28.53% with an impact of 0.96% on the portfolio. The current stake is 3.16% of her total assets and 2.64% of the company’s outstanding shares.

GuruFocus gives On Assignment a profitability and growth rating of 8 out of 10 with good returns of ROE 14.38% and ROA 6.72% that are underperforming 58% of the companies in the Global Staffing & Outsourcing Services industry. Financial strength has a weak rating of 4 out of 10 with a very low cash-to-debt of 0.04 that is far below the industry median of 2.22.

The company is a global provider of highly skilled, hard-to-find professionals in the growing life sciences, health care and technology sectors, where quality people are the key to success. Third-quarter revenues grew by 29.3% year over year and adjusted EBITDA (a non-GAAP measure defined below) was 13.1% of revenues.

The company’s largest shareholder among the gurus is Ron Baron (Trades, Portfolio) with 4.59% of outstanding shares followed by Chuck Royce (Trades, Portfolio) with 0.63% and Steven Cohen (Trades, Portfolio) with 0.43%.

Gordon reduced her stake in Scorpio Tankers Inc. (STNG) by 26.09% with an impact of 0.91% on the portfolio. The current stake is 3.28% of her total assets and 3.27% of the company’s outstanding shares.

GuruFocus gives Scorpio Tankers a profitability and growth rating of 5 out of 10 with positive returns of ROE 14.41% and ROA 6.09% that are overperforming 78% of the companies in the Global Shipping & Ports industry. Financial strength has a rating of 6 out of 10 with cash-to-debt of 0.09 that is below the industry median of 0.34.

The company provides seaborne transportation of refined petroleum products and crude oil. The company competes mainly with other independent tanker vessel owners and with oil companies that own and operate their own vessels.

Gordon is the company's largest shareholder among the gurus, followed by Ron Baron (Trades, Portfolio) with 2.92% of outstanding shares, Larry Robbins (Trades, Portfolio) with 0.88% and Chuck Royce (Trades, Portfolio) with 0.82%.

She reduced her stake in Oxford Industries Inc. (OXM) by 21.01% with an impact of 0.67% on the portfolio. The current stake is 2.96% of her total assets and 3.93% of the company’s outstanding shares.

GuruFocus gives Oxford Industries a profitability and growth rating of 7 out of 10 with good returns of ROE 9.49% and ROA 4.60% that are outperforming 57% of the companies in the Global Apparel Manufacturing industry. Financial strength has a rating of 7 out of 10 with cash-to-debt of 0.10 that is below the industry median of 0.82.

It is an apparel company that designs, sources, markets and distributes products bearing the trademarks of its company-owned lifestyle brands as well as certain licensed and private label apparel products.

Gordon is the company's main shareholder among the gurus, then Joel Greenblatt (Trades, Portfolio) with 1.67% of outstanding shares, Jim Simons (Trades, Portfolio) with 1.4% and Paul Tudor Jones (Trades, Portfolio) with 0.07%.

Gordon reduced her stake in CoStar Group Inc. (CSGP) by 20.82% with an impact of 0.6% on the portfolio. The current stake is 2.76% of her total assets and 0.8% of the company’s outstanding shares.

GuruFocus gives CoStar Group a profitability and growth rating of 7 out of 10 with negative returns of ROE -0.83% and ROA -0.60% that are underperforming 81% of the companies in the Global Real Estate Services industry. Financial strength has a rating of 7 out of 10 with cash-to-debt of 1.02 that is much above the industry median of 0.28.

It is a provider of information, analytics and marketing services to the commercial real estate industry in the U.S. and the United Kingdom. The company manages its business geographically in two operating segments, with the primary areas of measurement and decision making being the U.S. and International, which includes the U.K. and France. During the third quarter net bookings surged 100% year over year; adjusted net income and adjusted EPS also declined 38% and 39%.

Ron Baron (Trades, Portfolio) is the company's largest shareholder among the gurus with 8.91% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.35% and Jim Simons (Trades, Portfolio) with 0.19%.

Gordon reduced her stake in Briggs & Stratton Corp. (BGG) by 20.19% with an impact of 0.59% on the portfolio. The current stake is 3.29% of her total assets and 6.27% of the company’s outstanding shares.

GuruFocus gives Briggs & Stratton a profitability and growth rating of 7 out of 10 with good ROE 7.18% that is outperforming 51% of the companies in the Global Diversified Industrials industry. Financial strength has a rating of 6 out of 10 with cash-to-debt of 0.21 that is below the industry median of 0.74.

The company is a producer of air-cooled gasoline engines for outdoor power equipment. It designs, manufactures, markets and services these products for original equipment manufacturers (OEMs). In addition, the company markets and sells related service parts and accessories for its engines.

The company's largest shareholder among the gurus is Charles Brandes (Trades, Portfolio) with 7.7% of outstanding shares followed by Gordon, Chuck Royce (Trades, Portfolio) with 1.5% and Joel Greenblatt (Trades, Portfolio) with 1.07%.

Gordon reduced her stake in Rogers Corp. (ROG) by 22.02% with an impact of 0.59% on the portfolio. The current stake is 2.34% of her total assets and 3.99% of the company’s outstanding shares.

GuruFocus gives Rogers a profitability and growth rating of 7 out of 10 with negative returns of ROE -69.66% and ROA -17.17% that are overperforming 58% of the companies in the Global Electronic Components industry. Financial strength has a rating of 7 out of 10 with cash-to-debt of 1.04 that is below the industry median of 1.22.

The company is an enterprise that provides its customers with solutions and products in a variety of markets, including portable communications, communications infrastructure, consumer electronics, mass transit, automotive, defense and clean technology.

Columbia Wanger (Trades, Portfolio) is the company's largest shareholder among the gurus with 4.2% of outstanding shares followed by Gordon with 3.99%, Chuck Royce (Trades, Portfolio) with 2.08% and Westport Asset Management (Trades, Portfolio) with 1.32%.

About the author:

Tiziano Frateschi
You can read about me on this blog: www.theextraincome.info

It gives suggestions on position trading.

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