Seth Klarman (Trades, Portfolio) is a value investor and portfolio manager at The Baupost Group. During the second quarter, the guru sold shares in the following stocks.
The guru reduced his stake in Antero Resources Corp. (AR) by 32.55%, with an impact of -2.54% on the portfolio.
The company is engaged in the exploration, development and acquisition of natural gas, NGLs and oil properties located in the Appalachian Basin. In the second quarter, adjusted net income of $41 million, or 14 cents per share, representing a 136% increase compared to the prior year quarter and adjusted EBITDAX had a 24% increase compared to the prior year quarter.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10, with a ROE of 1.56% and ROA of 0.67%, which are outperforming 84% of the companies in the Global Oil & Gas E&P industry. Financial strength has a rating of 4 out of 10, with a cash to debt ratio of 0.01, which is below the industry median of 0.44.
Another notable shareholder among the gurus is Glenn Greenberg (Trades, Portfolio) with 3.35% of outstanding shares, followed by David Swensen (Trades, Portfolio) with 3.2%, Leon Cooperman (Trades, Portfolio) with 0.1%, Ron Baron (Trades, Portfolio) with 0.03% and Paul Tudor Jones (Trades, Portfolio) with 0.03%.
The guru reduced his stake in PayPal Holdings Inc. (PYPL) by 19.77%, with an impact of -0.78% on the portfolio.
It is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants. The Company's payments platform includes PayPal, PayPal Credit, Venmo and Braintree products. During the last quarter, revenue grew 15% and the GAAP operating margin had 14% growth. The company returned $300 million to stockholders, repurchasing 8 million shares of common stock.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10, with a ROE of 10.10% and a ROA of 4.72%, which are outperforming 59% of the companies in the Global Credit Services industry. Financial strength has a rating of 8 out of 10, with no debt.
Carl Icahn (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 2.81% of outstanding shares, followed by Steve Mandel (Trades, Portfolio) with 0.92%, Manning & Napier Advisors Inc. with 0.57% and PRIMECAP Management (Trades, Portfolio) with 0.55%.
The investor closed his stake in Biotie Therapies Corp ADR. (BITI) with an impact of -0.54% on the portfolio.
It is a drug development company engaged in the development of drugs for neurodegenerative and psychiatric disorders and inflammatory and fibrotic liver disease.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10, with a ROE of -44.38% and a ROA of -31.81%, which are underperforming 87% of the companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 2.49, which is below the industry median of 3.15.
The guru reduced his stake in Innoviva Inc. (INVA) by 11.13%, with an impact of -0.4% on the portfolio.
It is a biopharmaceutical company engaged in the discovery, development and commercialization of small molecule medicines. Second quarter royalty revenues rose 157% and income from operations for the second quarter of 2016 was $25.9 million, compared with $5.1 million in the same period in 2015.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10, with a ROA of 4.49% and a ROC of 535.05%, which are outperforming 87% of the companies in the Global Biotechnology industry. Financial strength has a rating of 3 out of 10, with a cash to debt ratio of 0.21, which is far below the industry median of 42.60.
Klarman is the largest shareholder of the company among the gurus, with 15.84%, followed by First Eagle Investment (Trades, Portfolio) with 3.02%, Steven Cohen (Trades, Portfolio) with 0.51%, Paul Tudor Jones (Trades, Portfolio) with 0.07% and Joel Greenblatt (Trades, Portfolio) with 0.06.
The investor reduced his stake in Novagold Resources Inc. (NG) by 36.67%, with an impact of -0.4% on the portfolio.
It is a mineral exploration company engaged in the exploration and development of gold and copper mineral properties.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10, with a ROE of -9.99% and a ROA of -7.61%, which are outperforming 53% of the companies in the Global Industrial Metals & Minerals industry. Financial strength has a rating of 4 out of 10, with a cash to debt ratio of 0.39, which is below the industry median of 30.25.
The largest shareholder among the gurus is John Paulson (Trades, Portfolio) with 8.03% of outstanding shares, followed by First Eagle Investment (Trades, Portfolio) with 0.67% and Jim Simons (Trades, Portfolio) with 0.67%.
The investor closed his stake in La Quinta Holdings Inc. (LQ) with an impact of -0.2% on the portfolio.
La Quinta is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale segments. Its portfolio includes approximately 867 hotels in the U.S., as well as in Canada and Mexico.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10, with a ROE of 0.13% and a ROA of 0.03%, which are underperforming 69% of the companies in the Global Resorts & Casinos industry. Financial strength has a rating of 4 out of 10, with a cash to debt ratio of 0.04, which is below the industry median of 0.78.
Joel Greenblatt (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 1.14% of outstanding shares, followed by Paul Tudor Jones (Trades, Portfolio) with 0.03% and Steven Cohen (Trades, Portfolio) with 0.02%.
The guru closed his stake in Genworth Financial Inc. (GNW) with an impact of -0.07% on the portfolio.
It is a financial security company providing insurance, wealth management, investment and financial solutions to its customers. During the second quarter, adjusted earnings per share increased by two cents to 21 cents and adjusted net income decreased 0.3%.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10, with a ROE of -2.53% and a ROA of -0.33%, which are underperforming 83% of the companies in the Global Insurance - Diversified industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.81, which is far below the industry median of 9,999.0.
The largest shareholder among the gurus is Richard Pzena (Trades, Portfolio) with 1.37% of outstanding shares, followed by Jim Simons (Trades, Portfolio) with 0.42%, Arnold Schneider (Trades, Portfolio) with 0.4%, Richard Snow (Trades, Portfolio) with 0.28% and Jeremy Grantham (Trades, Portfolio) with 0.05%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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