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MFP Investors Cuts AT&T, Exits WABCO

Firm's largest sales of the 2nd quarter

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Aug 28, 2020
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Michael Price (Trades, Portfolio)'s MFP Investors LLC manages a $547 million equity portfolio composed of 108 stocks as of the quarter's end. The firm sold shares of the following stocks during the second quarter of 2020.

WABCO

The fund closed its position in WABCO Holdings Inc. (WBC). The trade had an impact of -3.36% on the portfolio.

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The company, which provides car and truck safety and efficiency technologies, has a market cap of $7.10 billion and an enterprise value of $7.37 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 14.19% and return on assets of 4.65% are outperforming 100% of companies in the vehicles and parts industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 0.7 is below the industry median of 0.49.

AT&T

The fund's AT&T Inc. (T) position was cut by 97.94% The portfolio was impacted by -3.32%.

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The wireless carrier has a market cap of $213.68 billion and an enterprise value of $405.49 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 6.57% and return on assets of 2.19% are outperforming 55% of companies in the telecommunication services industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.09 is below the industry median of 0.31.

The largest guru shareholder of the company is the

David Tepper (Trades, Portfolio) with 0.13% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.09%.

Taubman Centers

The fund trimmed its position in Taubman Centers Inc. (TCO) by 66.28%. The portfolio was impacted by -1.21%.

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The company, which owns shopping centers, has a market cap of $2.29 billion and an enterprise value of $6 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on assets of 4.23% is outperforming 79% of companies in the REITs industry. Its financial strength is rated 2 out of 10. The cash-debt ratio of 0.06 is below the industry median of 0.09.

The largest guru shareholder is

Jeremy Grantham (Trades, Portfolio) with 0.55% of outstanding shares, followed by John Paulson (Trades, Portfolio) with 0.49% and Paul Tudor Jones (Trades, Portfolio) with 0.30%.

Columbia Financial

The fund exited its Columbia Financial Inc. (CLBK) holding, impacting the portfolio by -1.06%.

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The holding company has a market cap of $1.24 billion and an enterprise value of $2.14 billion.

GuruFocus gives the company a profitability and growth rating of 2 out of 10. The return on equity of 4.98% and return on assets of 0.63% are underperforming 72% of companies in the banks industry. Its financial strength is rated 2 out of 10. The cash-debt ratio of 0.2 is above the industry median of 1.35.

The largest guru shareholder of the company is

Jim Simons (Trades, Portfolio)' Renaissance Technologies with 1.04% of outstanding shares.

Waterstone Financial

The investment fund trimmed its holding of Waterstone Financial Inc. (WSBF) by 32.63%. The portfolio was impacted by -0.82%.

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The loan holding company has a market cap of $404.67 million and an enterprise value of $913.74 million.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 12.14% and return on assets of 2.27% are outperforming 79% of companies in the banks industry. Its financial strength is rated 2 out of 10. The cash-debt ratio of 0.11 is below the industry median of 1.35.

The largest guru shareholder is Simons' firm with 7.76% of outstanding shares, followed by

Michael Price (Trades, Portfolio) with 2.22% and Grantham with 0.75%.

Advanced Emissions Solutions

The investment fund exited its Advanced Emissions Solutions Inc . (ADES) position. The trade had an impact of -0.82% on the portfolio.

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The provider of emissions solutions has a market cap of $75.16 billion and an enterprise value of $98.11 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of -12.57% and return on assets of -7.61% are underperforming 87% of companies in the industrial products industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.42 is below the industry median of 1.01.

Carter Bank
The investment fund trimmed its holding in Carter Bank & Trust. (CARE) by 70.79%. The portfolio was impacted by -0.72%.

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The state-chartered community bank has a market cap of $186.54 million and enterprise value of $32.28 million.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 4.23% and return on assets of -0.5% are underperforming 75% of companies in the banks industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 5.41 is above the industry median of 1.35.

The largest guru shareholder of the company is

Third Avenue Management (Trades, Portfolio) with 1.02% of outstanding shares.

Disclosure: I do not own any stocks mentioned.

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