Ronald Muhlenkamp (Trades, Portfolio) is the founder and president of Muhlenkamp & Company Inc. and portfolio manager for the company's self-named mutual fund (MUHLX). The following are his largest sales of the second quarter.
The investor closed his stake in Baker Hughes Inc. (BHI), with an impact of -1.99% on the portfolio.
The company operates in the oilfield services industry. It provides products and services for drilling and evaluation of oil and gas wells, completion and production of oil and gas wells, fluids and chemicals and reservoir technology.
Second quarter revenue decreased 10% from the first quarter, but grew 39% year-over-year. On a GAAP basis, net loss was $2.08 per diluted share, compared to $2.22 per diluted share, in the first quarter of 2016.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10, with an ROE of -19.12% and an ROA of -12.97%, which are underperforming 71% of companies in the global oil and gas equipment and services industry. Its financial strength has a rating of 6 out of 10, with a cash to debt ratio of 1.29, which is above the industry median of 0.43.
The largest shareholder among the gurus is Dodge & Cox with 7.87% of outstanding shares, followed by Jeff Ubben (Trades, Portfolio) with 5.43%, Richard Pzena (Trades, Portfolio) with 0.32% and Jim Simons (Trades, Portfolio) with 0.15%.
The guru reduced his shares in Allegiant Travel Co. (ALGT) by 35.21%, with an impact of -1.34% on the portfolio.
Allegiant is a leisure travel company engaged in transporting travelers in small cities to leisure destinations. The company provides air-related services and products along with air transportation.
Total operating revenue in the second quarter grew 7.1% year-over-year and operating income had a year-over-year increase of 12.6%.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10, with an ROE of 65.29% and an ROA of 17.11%, which are outperforming 93% of the companies in the global airlines industry.Its financial strength has a rating of 6 out of 10, with a cash to debt ratio of 0.57, which is below the industry median of 0.46.
Jim Simons (Trades, Portfolio) is the main shareholder of the company among the gurus, with 7.01% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 0.26% and Ronald Muhlenkamp (Trades, Portfolio) with 0.21%.
The investor reduced his stake in Macrogenics Inc. (MGNX) by 76.45%, with an impact of -0.39% on the portfolio.
The company is a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases.
Total revenue, consisting primarily of revenue from collaborative agreements, was $80.7 million for the second quarter, compared to $6.7 million for the same quarter a year ago and net income was $40.5 million, compared to net loss of $21.4 million for the second quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10, with an ROE of -11.41% and an ROA of -9.99%, which are outperforming 66% of the companies in the global biotechnology industry. Its financial strength has a rating of 10 out of 10, with no debt.
The largest shareholder among the gurus is Steven Cohen (Trades, Portfolio) with 6.71% of outstanding shares, followed by John Griffin (Trades, Portfolio) with 3.92 %, Julian Robertson (Trades, Portfolio) with 1.66%, First Eagle Investment (Trades, Portfolio) with 0.64% and George Soros (Trades, Portfolio) with 0.06%.
The guru reduced his stake in Alliance Data Systems Corp. (ADS) by 0.38%, with an impact of -0.04% on the portfolio.
The company is a provider of transaction-based, data-driven marketing and loyalty solutions serving large, consumer-based businesses in a variety of industries.
Second quarter revenue grew 17% year-over-year and net income increased 8% from the same quarter a year prior.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10, with an ROE of 25.13%, which is outperforming and an ROA of 2.79%, which is underperforming 55% of the companies in the global business services industry. Its financial strength has a rating of 4 out of 10, with a cash to debt ratio of 0.11, which is below the industry median of 1.39.
Jeff Ubben (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 0.92% of outstanding shares, followed by Steven Cohen (Trades, Portfolio) with 0.46%, Ray Dalio (Trades, Portfolio) with 0.29% and Ronald Muhlenkamp (Trades, Portfolio) with 0.21%.
The guru slightly reduced his stake in Microsoft Corp. (MSFT) by 0.48%, with an impact of -0.03% on the portfolio.
The company is engaged in designing, manufacturing and selling devices and online advertising. Its products include operating systems for computing devices, servers, phones and other devices.
During the fourth quarter, Microsoft returned $6.4 billion to shareholders in the form of share repurchases and dividends, revenue was $20.6 billion GAAP and $22.6 billion non-GAAP.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10, with an ROE of 21.64% and an ROA of 9.13%, which are outperforming 79% of the companies in the global foftware - infrastructure industry. Its financial strength has a rating of 6 out of 10, with a cash to debt ratio of 2.11, which is below the industry median of 10.15.
The largest shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with 0.75% of outstanding shares, followed by Jeff Ubben (Trades, Portfolio) with 0.73%, Dodge & Cox with 0.66%, Steve Mandel (Trades, Portfolio) with 0.33% and Barrow, Hanley, Mewhinney & Strauss with 0.32%.
The investor reduced his shares in Apple Inc. (AAPL) by 0.38%, with an impact of -0.03% on the portfolio.
The company designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players and sells a variety of related software, services, accessories, networking solutions and third-party digital content.
During the second quarter, the company generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders. Gross margin was 39.4%, compared to 40.8% in the year-ago quarter.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10, with an ROE of 37.92% and an ROA of 16.28%, which are outperforming 96% of the companies in the global consumer electronics industry. Its financial strength has a rating of 6 out of 10, with a cash to debt ratio of 0.73, which is below the industry median of 1.44.
Ken Fisher (Trades, Portfolio) is the main shareholder of the company among the gurus, with 0.21% of outstanding shares, followed by Spiros Segalas (Trades, Portfolio) with 0.2%, Warren Buffett (Trades, Portfolio) with 0.18%, Pioneer Investments (Trades, Portfolio) with 0.16% and David Einhorn (Trades, Portfolio) with 0.15%.
Disclosure:The author holds a long position in Apple but doesn't hold a position in any other company mentioned in this article at the time of publication, and had no intention of changing that position within the next 72 hours. See my current holdings here.
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