Ron Baron (Trades, Portfolio) closed his positions in many holdings during the third quarter, and while some brought him good returns, he also lost on some investments. Baron is the founder of Baron Capital Management. He is the co-portfolio manager of the Baron Asset Fund and remains portfolio manager of the Growth and Partners Funds.
Shutterstock Inc. (SSTK)
The position was established in Q1 2013. In the third quarter, Baron sold the shares and lost 29% on the investment. The deal had an impact of -0.2% on the portfolio.
The company has a market cap of $1.17 billion. It has a P/E of 59.48, a forward P/E ratio of 18.52, a P/B of 3.98 and a P/S of 2.93. GuruFocus has given the stock a financial strength rating of 9/10 and a profitability and growth rating of 6/10.
The company operates a marketplace for commercial digital imagery. Commercial digital imagery consists of licensed photographs, illustrations and video clips that companies use in their visual communications.
Caxton Associates (Trades, Portfolio) and Jim Simons also closed their holdings in the stock.
Fossil Group Inc. (FOSL)
Fossil has had a long term position in the portfolio since 2011, and over the last four quarters, the guru has been reducing the stake. In the third quarter, he sold the shares and lost 22% on the investment. The deal had an impact of -0.08% on the portfolio.
The company has a market cap of $1.44 billion. It has a P/E of 4.90, a forward P/E ratio of 6.64, a P/B of 1.66 and a P/S of 0.45. GuruFocus has given the stock a financial strength rating of 8/10 and a profitability and growth rating of 8/10.
Fossil Group designs, markets and distributes consumer fashion accessories. Its principal offerings include an extensive line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, sunglasses, soft accessories and clothing.
Larry Robbins (Trades, Portfolio) and John Burbank (Trades, Portfolio) are other gurus who exited their positions in this company.
Rally Software Development Corp. (RALY)
The position was established in Q4 2013 and last three quarters Baron has been reducing his stake. In the third quarter, he sold the shares and gained 25% on the investment. The deal had an impact of -0.06% on the portfolio.
The company has a market cap of $499.88 million. It has a P/B of 10.31 and a P/S of 5.33. GuruFocus has given the stock a financial strength rating of 6/10 and a profitability and growth rating of 3/10.
Rally Software Development provides cloud-based solutions for managing Agile software development tools and educational and support services to help companies adopt Agile and Lean software development practice.
Mario Gabelli (Trades, Portfolio) and Jim Simons closed their holdings in this quarter.
Fairway Group Holdings Corp. (FWM, Financial)
In the third quarter, Baron sold the shares and lost 69% on the investment. The deal had an impact of -0.02% on the portfolio.
The company has a market cap of $26.68 million. It has a P/S of 0.03. GuruFocus has given the stock a financial strength rating of 6/10 and a profitability and growth rating of 3/10.
The company along with its subsidiaries operates in the retail food industry. Fairway Group Holdings sells fresh, natural and organic products, prepared foods and hard to find specialty and gourmet offerings.
C&J Energy Services Ltd. (CJES)
In the first quarter of 2015, Baron acquired a new position in the company and increased his stake by 38.52% in the second quarter. In the third quarter, he sold the shares and lost 43% on the investment. The deal had an impact of -0.01% on the portfolio.
The company has a market cap of $420 million. It has a forward P/E ratio of 12.63, a P/B of 0.45 and a P/S of 0.17. GuruFocus has given the stock a financial strength rating of 3/10 and a profitability and growth rating of 6/10.
C&J Energy Services is a completion and production services company. The company is engaged in providing well construction, well completions and well services to the oil and gas industry.
Chuck Royce (Trades, Portfolio), Kyle Bass (Trades, Portfolio) and T Boone Pickens (Trades, Portfolio) are other gurus who exited their positions.
Gol Intelligent Airlines Inc. (GOL, Financial)
Baron began to buy the shares in Q2 2014, and over the last two quarters he reduced his stake over 38%. In the third quarter, he sold the shares and lost 52% on the investment. The deal had an impact of -0.01% on the portfolio.
The company has a market cap of $2.18 billion. It has a forward P/E ratio of 2.28. GuruFocus has given the stock a financial strength rating of 6/10 and a profitability and growth rating of 3/10.
Gol Intelligent Airlines is the largest low-cost carrier in Latin America. Manning & Napier Advisors also sold its holding in the company in this quarter.
BioScrip Inc. (BIOS, Financial)
The position was established in Q4 2013. In the third quarter, he sold the shares and lost 57% on the investment.
The company has a market cap of $97.28 million. It has a forward P/E ratio of 15.72 and a P/S of 0.09. GuruFocus has given the stock a financial strength rating of 6/10 and a profitability and growth rating of 2/10.
BioScrip provides home infusion and other home healthcare services to patients, physicians, hospitals, healthcare payors and pharmaceutical manufacturers to provide clinical management solutions and delivers cost-effective access to prescription medications and home health services.
Diamond Hill Capital (Trades, Portfolio) increased its position in the company, while Mario Gabelli (Trades, Portfolio) reduced his stake.
Unilife Corp. (UNIS)
In the third quarter, Baron sold the shares and lost 40% on the investment.
The company has a market cap of $104.27 million. It has a P/S of 5.86. GuruFocus has given the stock a financial strength rating of 4/10 and a profitability and growth rating of 2/10.
Unilife Corp is designer, manufacturer and supplier of injectable drug delivery systems that can enhance and differentiate the injectable drugs, biologics and vaccines, or collectively, injectable therapies, of pharmaceutical and biotechnology customers.
Flowserve Corp. (FLS)
The position was established in Q4 2013 and since then, Baron has been increasing his stake. In the third quarter, he sold the shares and lost 35% on the investment.
The company has a market cap of $4.98 billion. It has a P/E of 14.50, a forward P/E ratio of 10.91, a P/B of 2.93 and a P/S of 1.11. GuruFocus has given the stock a financial strength rating of 8/10 and a profitability and growth rating of 7/10.
Flowserve Corp is a manufacturer and aftermarket service provider of comprehensive flow control systems.
Jim Simons (Trades, Portfolio) is another investor who exited his position, while Jeremy Grantham (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio) reduced their stakes.
