Seth Klarman (Trades, Portfolio), a value investor and portfolio manager for the investment partnership The Baupost Group, made three transactions on Aug. 31.
The position in PBF Energy Inc. Class AÂ (PBF) was raised by 47.77% with an impact of 1.5% on the portfolio. He now holds 0.88% of the company's outstanding shares.
PBF Energy is a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the U.S. It owns and operates three domestic oil refineries. Second-quarter income from operations was $234.8 million as compared to income from operations of $273.8 million for the second quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10. Its ROE of -0.17% and ROA of -0.04% are underperforming 78% of the companies in the Global Oil & Gas Refining & Marketing industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.66 that is above the industry median of 0.56.
Other shareholders among the gurus are Barrow, Hanley, Mewhinney & Strauss with 7.04%, Richard Snow (Trades, Portfolio) with 3.02%, Jim Simons (Trades, Portfolio) with 0.8%, HOTCHKIS & WILEY with 0.3% and Lee Ainslie (Trades, Portfolio) with 0.13%.
The guru reduced his stake in SunEdison Semiconductor Ltd. (SEMI) by 71.68% with an impact of -0.94% on the portfolio.
The company manufactures, develops and markets silicon wafers for the semiconductor industry.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10. Its ROE of -53.16% and ROA of -26.76% are underperforming 92% of the companies in the Global Semiconductors industry.
Financial strength has a rating of 5 out of 10 with cash to debt of 0.37 that is below the industry median of 1.62. Recently it reached an agreement with GlobalWafers Co. (ROCO:6488) and second quarter net sales grew 4.7% from the first quarter and gross profit was $17.5 million, or 9.2% of net sales, compared to $15.0 million, or 8.2% of net sales in the prior quarter. The company reported operating loss of $25.9 million, compared to an operating loss of $12.8 million in the 2016 first quarter.
Arnold Schneider (Trades, Portfolio) is the largest shareholder among the gurus with 4.27% of outstanding shares followed by Chuck Royce (Trades, Portfolio) with 3.21% and Simons (Trades, Portfolio) with 0.77%.
The guru trimmed his shares in Innoviva Inc. (INVA) by 1.36% with an impact of -0.09% on the portfolio.
It is a biopharmaceutical company that is engaged in the discovery, development and commercialization of small molecule medicines. Royalty revenues rose 157% year over year and income from operations was $25.9 million, compared with $5.1 million in the same period in 2015. Adjusted EBITDA was $33.9 million, compared with $10.4 million in the second quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10. Its ROA of 4.49% and ROC of 535.05% are outperforming 84% of the companies in the Global Biotechnology industry. Financial strength has a rating of 2 out of 10 with cash to debt of 0.21 that is below the industry median of 49.03.
The largest shareholder among the gurus is First Eagle Investment (Trades, Portfolio) with 3.02% of outstanding shares followed by Steven Cohen (Trades, Portfolio) with 0.51%, Paul Tudor Jones (Trades, Portfolio) with 0.07% and Joel Greenblatt (Trades, Portfolio) with 0.06%.
Klarman manages a portfolio composed of 40 stocks with a total value of $7.328 billion.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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