As value investors, we look to buys stocks that are undervalued. Stocks that are bought by value Gurus are a good place to look for bargains. It will be even better if stocks went down after Gurus bought. These are highlights of the stocks that have declined in prices since Gurus have bought.
Countrywide Financial Corp. (CFC, Financial): Down 40% Since Brian Rogers Bought In the Third Quarter
Brian Rogers added to his holdings in Mortgage Finance company Countrywide Financial Corp. by 100% during the quarter ended 09/30. His purchase prices were between $18.21 and $37.14, with an estimated average price of $25.20. Since then the prices of Countrywide Financial Corp. shares have declined by -40% from the estimated average. As of the third quarter, Brian Rogers owned 5,000,000 shares of CFC.
Countrywide Financial Corporation, a holding company, engages in mortgage lending and other finance-related operations. The company operates in five segments: Mortgage Banking, Banking, Capital Markets, Insurance, and Global Operations. Countrywide Financial Corp. has a market cap of $8.77 billion; its shares were traded at around $15.23 with trialing P/E ratio of 3.88 and P/S ratio of 0.88.
On the record, CFC shares have dropped by 50% since January of 2007. It’s certainly no fresh news that the housing industry is in a slump this year. This year’s drastic stock performance decline was blamed on the management of CFC, especially CEO Angelo R. Mozilo . One of the biggest shareholders, CFC’s pension plan, wants to get rid of CEO Mozilo. In September, CFC had to cut 20% its employees—an estimated 12,000 jobs were cut. To shine more shame on the company, the SEC is undergoing investigations on CEO Mozilo’s evidence of mistimed options.
One Guru Initiated Position: Guru John Rogers bought 1,341,000 shares in the quarter ended 06/30, which is 0.22% of the $13.23 billion portfolio of ARIEL CAPITAL MANAGEMENT LLC;
Four Increased Positions) 1. Richard Pzena owns 7,923,374 shares, an increase of 351.06% from the previous quarter. This position accounts for 1.02% of the $28.22 billion portfolio of Pzena Investment Management LLC. 2.Brian Rogers owns 5,000,000 shares as of 09/30, an increase of 100% from the previous quarter. This position accounts for 0.38% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 3. Brian Rogers owns 2,500,000 shares, an increase of 11.11% from the previous quarter. This position accounts for 0.36% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 4. Kenneth Fisher owns 9,998 shares, an increase of 34.74% from the previous quarter. This position accounts for less than 0.01% of the $33.9 billion portfolio of Fisher Asset Management, LLC.
Eight Gurus Kept Positions Unchanged or Slightly Adjusted)1. Brian Rogers owns 2,500,000 shares, which accounts for 0.36% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 2. Robert Olstein owns 790,400 shares, which accounts for 1.5% of the $1.92 billion portfolio of Olstein Financial Alert Fund. 3. NWQ Managers owns 31,642,202 shares, which accounts for 3.32% of the $34.67 billion portfolio of NWQ Investment Management Co. 4. Bill Miller owns 17,000,000 shares, which accounts for 3% of the $20.59 billion portfolio of Legg Mason Value Trust. 5. Wallace Weitz owns 11,179,884 shares, which accounts for 7.39% of the $5.38 billion portfolio of Weitz Wallace R & Co. 6. Ruane Cunniff owns 758,715 shares, which accounts for 0.22% of the $12.38 billion portfolio of Ruane & Cunniff & Goldfarb Inc. 7. Arnold Schneider owns 4,476,275 shares, which accounts for 3.72% of the $4.37 billion portfolio of Schneider Capital Management. 8. Ronald Muhlenkamp owns 3,543,456 shares, which accounts for 4.79% of the $2.69 billion portfolio of Muhlenkamp Fund.
One Guru Reduced Positions in CFC: David Dreman owns 81,650 shares, a decrease of 67.77% of from the previous quarter. This position accounts for 0.02% of the $19.55 billion portfolio of Dreman Value Management.
CEO’s BIG SELL: Since 08/01, CEO Angelo R. Mozilo has sold a total of 1,117,506 shares of CFC stock at of $18.36 and $28.74. The price of CFC has decreased by an average range of -17.05% to -47.01% since the sells.
Insider Sell: 1) Director Oscar P. Robertson sold 12,000 shares of CFC stock on 07/27 at $29.70; the price of the stock has decreased by -48.72% since. 2) President & COO of CFC, David Sambol, has sold a total of 29,750 shares at a range of $35.26 and $37.02, since 06/14. The price of stock has decreased by a range of -57.65% to -60.39%. 3) EMD of Banking and Insurance, Carlos Manuel Garcia, sold a total of 5,000 shares on two occasions: 2,500 shares on 06/21 at $37.50; and another 2,500 shares on 06/12 at $37.71. 4) Director Michael E. Dougherty sold 11,395 shares on 06/15 at $38.15; the price of the stock has decreased by -60.08% since.
Circuit City Stores Inc. (CC, Financial): Down 29% Since Robert Rodriguez Bought In the Third Quarter
Robert Rodriguez initiated holdings in Specialty Retailers Company Circuit City Stores Inc. during the quarter ended on 09/30. His purchase prices were between $7.91 and $15.09, with an estimated average price of $11.3. Since then the prices of Circuit City Stores Inc. shares have declined by -29% from the estimated average. Robert Rodriguez owned 3,869,800 shares of as of 09/30.
Circuit City Stores, Inc. operates as a specialty retailer of consumer electronics, home office products, entertainment software, and related services. Circuit City Stores Inc. has a market cap of $1.35 billion; its shares were traded at around $7.98 with P/S ratio of 0.12.
Circuit City ’s performance is out shadowed by its competitor Best Buy. Best Buy announced that in the coming week, they will no longer sell analog TVs. As the digital era steps forward, consumers show no mercy for old technology like TVs with an analog receiver, a.k.a. the antennae. In 02/18/2009 , broadcasters will switch solely to digital transmission; therefore, the antennae will be obsolete. We can definitely speculate a jump in profit for a digital electronic retailer like Circuit City in the coming year.
Two Gurus Initiated Their Positions in CC: 1) Robert Rodriguez bought 3,869,800 shares in the quarter ended 09/30, which is 2.56% of the $1.2 billion portfolio of FPA Capital. 2) Richard Pzena bought 12,500 shares in the quarter ended 06/30, which is less than 0.01% of the $28.22 billion portfolio of Pzena Investment Management LLC.
Charming Shoppes Inc. (CHRS, Financial): Down 21% Since Robert Rodriguez Bought In the Third Quarter
Robert Rodriguez added to his holdings in Apparel Retailers Company Charming Shoppes Inc. by 12.5% during the quarter ended 09/30. His purchase prices were between $8.4 and $10.97, with an estimated average price of $9.4. This position accounts for 4.43% of the $1.2 billion portfolio of FPA Capital. Since then the prices of Charming Shoppes Inc. shares have declined by -21% from the estimated average. Robert Rodriguez owned 6,300,000 shares of as of 09/30.
Charming Shoppes, Inc. operates as a specialty apparel retailer for women's plus-size specialty apparel in the United States. It operates retail stores and related e-commerce Web sites through the brands: LANE BRYANT, FASHION BUG, and CATHERINES PLUS. Charming Shoppes Inc. has a market cap of $908.11 million; its shares were traded at around $7.41 with P/E ratio of 11.01 and P/S ratio of 0.30.
Due to poor spring-summer sales, Charming Shoppes Inc. reported a comparably lower Q2 profit than expected. For the last three quarters the company has had a narrow operating margin.Some credit analyst reasoned that the lack of sales of “company specific” products have also hurt sales.
Alcatel-Lucent (ALU, Financial): Down 20% Since Brian Rogers Bought In the Third Quarter
Brian Rogers initiated holdings in Apparel Retailers company Alcatel-Lucent during the quarter ended 09/30. His purchase prices were between $9 and $14.35, with an estimated average price of $11.5. Since then the prices of Alcatel-Lucent shares have declined by -20% from the estimated average. Brian Rogers owned 7,500,000 shares of as of 09/30.
Alcatel-Lucent provides solutions that enable service providers, enterprises, and governments to deliver voice, data, and video communication services to end-users worldwide. Alcatel-Lucent has a market cap of $20.72 billion; its shares were traded at around $9.18 with P/S ratio of 0.98.
Since the merge of Alcatel of France with Lucent of U.S. at the end of last year, shares fell 40%. The company has made employee cuts, and will review them by the end of October. On the Bright Side: ALU just extended their contract from three to five years with E-Plus, a German mobile phone network. ALU also headed a joint venture with Sagem to offer an easy to use and manage Fax over IP to their clients. ALU made the headlines as an innovative company for generating an algorithm, used to mimic the “human auditory process”.
Two Gurus Initiated Positions in ALU: 1) Brian Rogers bought 7,500,000 shares in the quarter ended 09/30, which is 0.31% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 2) George Soros bought 95,000 shares in the quarter ended 06/30, which is 0.04% of the $3.15 billion portfolio of Soros Fund Management LLC.
Two Gurus Increased Positions in ALU: 1) Bill Miller owns 5,000,000 shares, an increase of 150% from the previous quarter. This position accounts for 0.81% of the $20.59 billion portfolio of Legg Mason Value Trust. 2) David Tepper owns 2,696,109 shares, an increase of 38.34% from the previous quarter. This position accounts for 1.48% of the $2.54 billion portfolio of APPALOOSA MANAGEMENT LP.
4 Gurus Kept Positions in ALU Unchanged or Slightly Adjusted: 1) David Tepper owns 2,696,109 shares, which accounts for 1.48% of the $2.54 billion portfolio of APPALOOSA MANAGEMENT LP. 2) Ian Cumming owns 41,533 shares, which accounts for 1.16% of the $50 million portfolio of Leucedia National. 3) Charles Brandes owns 118,190,344 shares, which accounts for 2.84% of the $58.32 billion portfolio of Brandes Investment. 4) Richard Pzena owns 78,738,157 shares, which accounts for 3.91% of the $28.22 billion portfolio of Pzena Investment Management LLC.
NWQ Managers sold out his holdings at the end of the second quarter.
Merrill Lynch & Co. Inc. (MER, Financial): Down 13% Since Brian Rogers Bought In the Third Quarter
Brian Rogers initiated holdings in Investment Services company Merrill Lynch & Co. Inc. during the quarter ended 09/30. His purchase prices were between $70.05 and $86.13, with an estimated average price of $76.10. Since then the prices of Merrill Lynch & Co. Inc. shares have declined by -13% from the estimated average. Brian Rogers owned 1,000,000 shares of as of 09/30.
Merrill Lynch & Co., Inc., together with its subsidiaries, provides broker-dealer, investment banking, financing, wealth management, advisory, asset management, insurance, lending, and related products and services worldwide. Merrill Lynch & Co. Inc. has a market cap of $57.11 billion; its shares were traded at around $66.26 with P/E ratio of 6.57 and P/S ratio of 1.67.
As of recent, First Republic Bank agreed to be bought by Merrill Lynch . Metro PCS, a phone service provider, sued MER for putting their “low-risk” assets in high risk investments. Early October, MER announced a net loss for the third quarter. Some analysts are blaming MER’s loss to its relatively new interests in the mortgage business.
Two Gurus Initiated Positions in MER:1) Brian Rogers bought 1,000,000 shares in the quarter ended 09/30, which is 0.29% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 2) George Soros bought 3,825 shares in the quarter ended 06/30, which is 0.01% of the $3.15 billion portfolio of Soros Fund Management LLC.
Six Gurus Kept Positions in MER Unchanged or Slightly Adjusted as of June : 1) Robert Olstein owns 119,400 shares, which accounts for 0.52% of the $1.92 billion portfolio of Olstein Financial Alert Fund. 2) John Keeley owns 9,850 shares, which accounts for 0.01% of the $8.41 billion portfolio of Keeley Fund Management. 3) Ruane Cunniff owns 7,550 shares, which accounts for 0.01% of the $12.38 billion portfolio of Ruane & Cunniff & Goldfarb Inc. 4) Kenneth Fisher owns 295,294 shares, which accounts for 0.07% of the $33.9 billion portfolio of Fisher Asset Management, LLC. 5) Chris Davis owns 1,720,844 shares, which accounts for 0.14% of the $93.61 billion portfolio of Davis Selected Advisers. 6) Ronald Muhlenkamp owns 1,445,037 shares, which accounts for 4.49% of the $2.69 billion portfolio of Muhlenkamp Fund.
Guru David Dreman reduced his position in MER. Dreman owns 33,460 shares, a decrease of 77.15% of from the previous quarter. This position accounts for 0.01% of the $19.55 billion portfolio of Dreman Value Management.
Ken Heebner sold out his holdings in the quarter ended 06/30.
Director Buys: Director Armando M. Codina bought 5,760 shares of MER stock on 07/25 at $78.04, the price of the stock has decreased by -15.09% since.
Countrywide Financial Corp. (CFC, Financial): Down 40% Since Brian Rogers Bought In the Third Quarter
Brian Rogers added to his holdings in Mortgage Finance company Countrywide Financial Corp. by 100% during the quarter ended 09/30. His purchase prices were between $18.21 and $37.14, with an estimated average price of $25.20. Since then the prices of Countrywide Financial Corp. shares have declined by -40% from the estimated average. As of the third quarter, Brian Rogers owned 5,000,000 shares of CFC.
Countrywide Financial Corporation, a holding company, engages in mortgage lending and other finance-related operations. The company operates in five segments: Mortgage Banking, Banking, Capital Markets, Insurance, and Global Operations. Countrywide Financial Corp. has a market cap of $8.77 billion; its shares were traded at around $15.23 with trialing P/E ratio of 3.88 and P/S ratio of 0.88.
On the record, CFC shares have dropped by 50% since January of 2007. It’s certainly no fresh news that the housing industry is in a slump this year. This year’s drastic stock performance decline was blamed on the management of CFC, especially CEO Angelo R. Mozilo . One of the biggest shareholders, CFC’s pension plan, wants to get rid of CEO Mozilo. In September, CFC had to cut 20% its employees—an estimated 12,000 jobs were cut. To shine more shame on the company, the SEC is undergoing investigations on CEO Mozilo’s evidence of mistimed options.
One Guru Initiated Position: Guru John Rogers bought 1,341,000 shares in the quarter ended 06/30, which is 0.22% of the $13.23 billion portfolio of ARIEL CAPITAL MANAGEMENT LLC;
Four Increased Positions) 1. Richard Pzena owns 7,923,374 shares, an increase of 351.06% from the previous quarter. This position accounts for 1.02% of the $28.22 billion portfolio of Pzena Investment Management LLC. 2.Brian Rogers owns 5,000,000 shares as of 09/30, an increase of 100% from the previous quarter. This position accounts for 0.38% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 3. Brian Rogers owns 2,500,000 shares, an increase of 11.11% from the previous quarter. This position accounts for 0.36% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 4. Kenneth Fisher owns 9,998 shares, an increase of 34.74% from the previous quarter. This position accounts for less than 0.01% of the $33.9 billion portfolio of Fisher Asset Management, LLC.
Eight Gurus Kept Positions Unchanged or Slightly Adjusted)1. Brian Rogers owns 2,500,000 shares, which accounts for 0.36% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 2. Robert Olstein owns 790,400 shares, which accounts for 1.5% of the $1.92 billion portfolio of Olstein Financial Alert Fund. 3. NWQ Managers owns 31,642,202 shares, which accounts for 3.32% of the $34.67 billion portfolio of NWQ Investment Management Co. 4. Bill Miller owns 17,000,000 shares, which accounts for 3% of the $20.59 billion portfolio of Legg Mason Value Trust. 5. Wallace Weitz owns 11,179,884 shares, which accounts for 7.39% of the $5.38 billion portfolio of Weitz Wallace R & Co. 6. Ruane Cunniff owns 758,715 shares, which accounts for 0.22% of the $12.38 billion portfolio of Ruane & Cunniff & Goldfarb Inc. 7. Arnold Schneider owns 4,476,275 shares, which accounts for 3.72% of the $4.37 billion portfolio of Schneider Capital Management. 8. Ronald Muhlenkamp owns 3,543,456 shares, which accounts for 4.79% of the $2.69 billion portfolio of Muhlenkamp Fund.
One Guru Reduced Positions in CFC: David Dreman owns 81,650 shares, a decrease of 67.77% of from the previous quarter. This position accounts for 0.02% of the $19.55 billion portfolio of Dreman Value Management.
CEO’s BIG SELL: Since 08/01, CEO Angelo R. Mozilo has sold a total of 1,117,506 shares of CFC stock at of $18.36 and $28.74. The price of CFC has decreased by an average range of -17.05% to -47.01% since the sells.
Insider Sell: 1) Director Oscar P. Robertson sold 12,000 shares of CFC stock on 07/27 at $29.70; the price of the stock has decreased by -48.72% since. 2) President & COO of CFC, David Sambol, has sold a total of 29,750 shares at a range of $35.26 and $37.02, since 06/14. The price of stock has decreased by a range of -57.65% to -60.39%. 3) EMD of Banking and Insurance, Carlos Manuel Garcia, sold a total of 5,000 shares on two occasions: 2,500 shares on 06/21 at $37.50; and another 2,500 shares on 06/12 at $37.71. 4) Director Michael E. Dougherty sold 11,395 shares on 06/15 at $38.15; the price of the stock has decreased by -60.08% since.
Circuit City Stores Inc. (CC, Financial): Down 29% Since Robert Rodriguez Bought In the Third Quarter
Robert Rodriguez initiated holdings in Specialty Retailers Company Circuit City Stores Inc. during the quarter ended on 09/30. His purchase prices were between $7.91 and $15.09, with an estimated average price of $11.3. Since then the prices of Circuit City Stores Inc. shares have declined by -29% from the estimated average. Robert Rodriguez owned 3,869,800 shares of as of 09/30.
Circuit City Stores, Inc. operates as a specialty retailer of consumer electronics, home office products, entertainment software, and related services. Circuit City Stores Inc. has a market cap of $1.35 billion; its shares were traded at around $7.98 with P/S ratio of 0.12.
Circuit City ’s performance is out shadowed by its competitor Best Buy. Best Buy announced that in the coming week, they will no longer sell analog TVs. As the digital era steps forward, consumers show no mercy for old technology like TVs with an analog receiver, a.k.a. the antennae. In 02/18/2009 , broadcasters will switch solely to digital transmission; therefore, the antennae will be obsolete. We can definitely speculate a jump in profit for a digital electronic retailer like Circuit City in the coming year.
Two Gurus Initiated Their Positions in CC: 1) Robert Rodriguez bought 3,869,800 shares in the quarter ended 09/30, which is 2.56% of the $1.2 billion portfolio of FPA Capital. 2) Richard Pzena bought 12,500 shares in the quarter ended 06/30, which is less than 0.01% of the $28.22 billion portfolio of Pzena Investment Management LLC.
Charming Shoppes Inc. (CHRS, Financial): Down 21% Since Robert Rodriguez Bought In the Third Quarter
Robert Rodriguez added to his holdings in Apparel Retailers Company Charming Shoppes Inc. by 12.5% during the quarter ended 09/30. His purchase prices were between $8.4 and $10.97, with an estimated average price of $9.4. This position accounts for 4.43% of the $1.2 billion portfolio of FPA Capital. Since then the prices of Charming Shoppes Inc. shares have declined by -21% from the estimated average. Robert Rodriguez owned 6,300,000 shares of as of 09/30.
Charming Shoppes, Inc. operates as a specialty apparel retailer for women's plus-size specialty apparel in the United States. It operates retail stores and related e-commerce Web sites through the brands: LANE BRYANT, FASHION BUG, and CATHERINES PLUS. Charming Shoppes Inc. has a market cap of $908.11 million; its shares were traded at around $7.41 with P/E ratio of 11.01 and P/S ratio of 0.30.
Due to poor spring-summer sales, Charming Shoppes Inc. reported a comparably lower Q2 profit than expected. For the last three quarters the company has had a narrow operating margin.Some credit analyst reasoned that the lack of sales of “company specific” products have also hurt sales.
Alcatel-Lucent (ALU, Financial): Down 20% Since Brian Rogers Bought In the Third Quarter
Brian Rogers initiated holdings in Apparel Retailers company Alcatel-Lucent during the quarter ended 09/30. His purchase prices were between $9 and $14.35, with an estimated average price of $11.5. Since then the prices of Alcatel-Lucent shares have declined by -20% from the estimated average. Brian Rogers owned 7,500,000 shares of as of 09/30.
Alcatel-Lucent provides solutions that enable service providers, enterprises, and governments to deliver voice, data, and video communication services to end-users worldwide. Alcatel-Lucent has a market cap of $20.72 billion; its shares were traded at around $9.18 with P/S ratio of 0.98.
Since the merge of Alcatel of France with Lucent of U.S. at the end of last year, shares fell 40%. The company has made employee cuts, and will review them by the end of October. On the Bright Side: ALU just extended their contract from three to five years with E-Plus, a German mobile phone network. ALU also headed a joint venture with Sagem to offer an easy to use and manage Fax over IP to their clients. ALU made the headlines as an innovative company for generating an algorithm, used to mimic the “human auditory process”.
Two Gurus Initiated Positions in ALU: 1) Brian Rogers bought 7,500,000 shares in the quarter ended 09/30, which is 0.31% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 2) George Soros bought 95,000 shares in the quarter ended 06/30, which is 0.04% of the $3.15 billion portfolio of Soros Fund Management LLC.
Two Gurus Increased Positions in ALU: 1) Bill Miller owns 5,000,000 shares, an increase of 150% from the previous quarter. This position accounts for 0.81% of the $20.59 billion portfolio of Legg Mason Value Trust. 2) David Tepper owns 2,696,109 shares, an increase of 38.34% from the previous quarter. This position accounts for 1.48% of the $2.54 billion portfolio of APPALOOSA MANAGEMENT LP.
4 Gurus Kept Positions in ALU Unchanged or Slightly Adjusted: 1) David Tepper owns 2,696,109 shares, which accounts for 1.48% of the $2.54 billion portfolio of APPALOOSA MANAGEMENT LP. 2) Ian Cumming owns 41,533 shares, which accounts for 1.16% of the $50 million portfolio of Leucedia National. 3) Charles Brandes owns 118,190,344 shares, which accounts for 2.84% of the $58.32 billion portfolio of Brandes Investment. 4) Richard Pzena owns 78,738,157 shares, which accounts for 3.91% of the $28.22 billion portfolio of Pzena Investment Management LLC.
NWQ Managers sold out his holdings at the end of the second quarter.
Merrill Lynch & Co. Inc. (MER, Financial): Down 13% Since Brian Rogers Bought In the Third Quarter
Brian Rogers initiated holdings in Investment Services company Merrill Lynch & Co. Inc. during the quarter ended 09/30. His purchase prices were between $70.05 and $86.13, with an estimated average price of $76.10. Since then the prices of Merrill Lynch & Co. Inc. shares have declined by -13% from the estimated average. Brian Rogers owned 1,000,000 shares of as of 09/30.
Merrill Lynch & Co., Inc., together with its subsidiaries, provides broker-dealer, investment banking, financing, wealth management, advisory, asset management, insurance, lending, and related products and services worldwide. Merrill Lynch & Co. Inc. has a market cap of $57.11 billion; its shares were traded at around $66.26 with P/E ratio of 6.57 and P/S ratio of 1.67.
As of recent, First Republic Bank agreed to be bought by Merrill Lynch . Metro PCS, a phone service provider, sued MER for putting their “low-risk” assets in high risk investments. Early October, MER announced a net loss for the third quarter. Some analysts are blaming MER’s loss to its relatively new interests in the mortgage business.
Two Gurus Initiated Positions in MER:1) Brian Rogers bought 1,000,000 shares in the quarter ended 09/30, which is 0.29% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. 2) George Soros bought 3,825 shares in the quarter ended 06/30, which is 0.01% of the $3.15 billion portfolio of Soros Fund Management LLC.
Six Gurus Kept Positions in MER Unchanged or Slightly Adjusted as of June : 1) Robert Olstein owns 119,400 shares, which accounts for 0.52% of the $1.92 billion portfolio of Olstein Financial Alert Fund. 2) John Keeley owns 9,850 shares, which accounts for 0.01% of the $8.41 billion portfolio of Keeley Fund Management. 3) Ruane Cunniff owns 7,550 shares, which accounts for 0.01% of the $12.38 billion portfolio of Ruane & Cunniff & Goldfarb Inc. 4) Kenneth Fisher owns 295,294 shares, which accounts for 0.07% of the $33.9 billion portfolio of Fisher Asset Management, LLC. 5) Chris Davis owns 1,720,844 shares, which accounts for 0.14% of the $93.61 billion portfolio of Davis Selected Advisers. 6) Ronald Muhlenkamp owns 1,445,037 shares, which accounts for 4.49% of the $2.69 billion portfolio of Muhlenkamp Fund.
Guru David Dreman reduced his position in MER. Dreman owns 33,460 shares, a decrease of 77.15% of from the previous quarter. This position accounts for 0.01% of the $19.55 billion portfolio of Dreman Value Management.
Ken Heebner sold out his holdings in the quarter ended 06/30.
Director Buys: Director Armando M. Codina bought 5,760 shares of MER stock on 07/25 at $78.04, the price of the stock has decreased by -15.09% since.
