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Top 5 1st Quarter Trades of David Nierenberg

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May 13, 2022
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David Nierenberg recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

David Nierenberg (Trades, Portfolio) is the Founder of the D3 Family of Funds, which manages $350 million in four private investment partnerships. Mr. Nierenberg serves on the Washington State Investment Board, which manages $80 billion of public employee retirement funds. He is a graduate of Yale College and Yale Law School. Business Address 19605 NE 8TH ST CAMAS WA 98607 360-604-8600

As of the latest 13F report, the guru’s equity portfolio contained 41 stocks valued at a total of $141,000,000. The top holdings were COOP(22.63%), EQT(16.82%), and FLR(15.72%).

According to GuruFocus data, these were

David Nierenberg (Trades, Portfolio)’s top five trades of the quarter.

Crawford & Co


David Nierenberg (Trades, Portfolio) reduced their investment in NYSE:CRD.B by 1,586,683 shares. The trade had a 11.02% impact on the equity portfolio. During the quarter, the stock traded for an average price of $7.99.

On 05/13/2022, Crawford & Co traded for a price of $7.18 per share and a market cap of $385,598,000. The stock has returned -15.71% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Crawford & Co has a price-earnings ratio of 13.56, a price-book ratio of 1.85, a EV-to-Ebitda ratio of 6.84 and a price-sales ratio of 0.37.

The price-to-GF Value ratio is 0.74, earning the stock a GF Value rank of 10.

Potbelly Corp


During the quarter,

David Nierenberg (Trades, Portfolio) bought 595,227 shares of NAS:PBPB for a total holding of 2,136,254. The trade had a 2.73% impact on the equity portfolio. During the quarter, the stock traded for an average price of $5.8.

On 05/13/2022, Potbelly Corp traded for a price of $5.7 per share and a market cap of $165,936,000. The stock has returned -21.25% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 5 out of 10.

In terms of valuation, Potbelly Corp has a EV-to-Ebitda ratio of -428.15 and a price-sales ratio of 0.40.

The price-to-GF Value ratio is 1.33, earning the stock a GF Value rank of 3.

Mr. Cooper Group Inc


David Nierenberg (Trades, Portfolio) reduced their investment in NAS:COOP by 25,000 shares. The trade had a 0.8% impact on the equity portfolio. During the quarter, the stock traded for an average price of $42.09.

On 05/13/2022, Mr. Cooper Group Inc traded for a price of $43.16 per share and a market cap of $3,192,744,000. The stock has returned 26.85% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 5 out of 10.

In terms of valuation, Mr. Cooper Group Inc has a price-earnings ratio of 2.27, a price-book ratio of 0.81, a EV-to-Ebitda ratio of 7.28 and a price-sales ratio of 1.04.

The price-to-GF Value ratio is 1.15, earning the stock a GF Value rank of 3.

Pitney Bowes Inc


During the quarter,

David Nierenberg (Trades, Portfolio) bought 140,000 shares of NYSE:PBI for a total holding of 960,600. The trade had a 0.76% impact on the equity portfolio. During the quarter, the stock traded for an average price of $7.08.

On 05/13/2022, Pitney Bowes Inc traded for a price of $4.565 per share and a market cap of $795,185,000. The stock has returned -34.08% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Pitney Bowes Inc has a price-earnings ratio of 15.82, a price-book ratio of 8.54, a EV-to-Ebitda ratio of 8.31 and a price-sales ratio of 0.23.

The price-to-GF Value ratio is 0.81, earning the stock a GF Value rank of 10.

Dirtt Environmental Solutions Ltd


During the quarter,

David Nierenberg (Trades, Portfolio) bought 331,025 shares of NAS:DRTT for a total holding of 735,200. The trade had a 0.59% impact on the equity portfolio. During the quarter, the stock traded for an average price of $2.55.

On 05/13/2022, Dirtt Environmental Solutions Ltd traded for a price of $0.883751 per share and a market cap of $76,554,000. The stock has returned -73.52% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 4 out of 10.

In terms of valuation, Dirtt Environmental Solutions Ltd has a price-book ratio of 1.71, a EV-to-Ebitda ratio of -3.29 and a price-sales ratio of 0.50.

The price-to-GF Value ratio is 0.38, earning the stock a GF Value rank of 2.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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