Legendary investor Martin Whitman always looks for “safe and cheap” companies to buy, he rarely sells stocks. Many of his recent picks have had significant decline. Do you want to buy these stocks at lower prices than Martin Whitman paid?
Forest City Enterprises Inc. (FCE-A): Down 22% Since Martin Whitman Bought In the Fourth Quarter
The Real Estate Holding & Development Company, Forest City Enterprises Inc. (FCE-a), announced a quarterly dividend of $0.08 a share. The company pulled in a third-quarter revenue of $333.6 million versus $262.5 million, and netted a loss of $0.11.
Martin Whitman upped his FCE-a shares by 3.77% to 7,011,858 shares during the quarter ended 10/31. His purchase prices were between $53.56 and $59.67. In the third quarter, Whitman and Ron Baron both increased their holdings by 24.9% Ron Baron and 15.62%, respectively. Other gurus who own FCE-a shares: Third Avenue Management, Chris Davis, Tom Gayner, and Bruce Sherman.
Forest City Enterprises Inc. has a market cap of $4.5 billion; its shares were traded at around $57.69 with P/E ratio of 41.57 and P/S ratio of 3.69. The dividend yield of Forest City Enterprises Inc. stocks is 0.6%.
Radian Group Inc. (RDN, Financial): Down 41% Since Martin Whitman Bought In the Fourth Quarter
Radian Group, Inc. (RDN), a mortgage insurer, reported a third quarter loss of $704. Million or $8.78 compared to an income of $112 Million or $1.36 in the previous year. The company made a write-off of $304 million on its sub-prime mortgage investment in C-BASS, a joint venture with MGIC Investment. The company’s share price is its lowest this year. Despite all the turmoil, the company declared their quarterly dividend of $0.02.
Martin Whitman made his buy between $11.94 and $24.05; he owns 10,359,150 shares of as of 10/31. Bill Miller, Arnold Schneider, and Third Avenue Management also bought in the third quarter of 2007. NWQ Managers and Jean-Marie Eveillard made little changes to their RDN holdings.
In September, insider buys were made by CEO Sanford A. Ibrahim, who bought 15,000 shares at $17.13, and Director Herbert Wender, who bought 3,400 shares at $16.71.
Radian Group Inc. has a market cap of $969.74 million; its shares were traded at around $11.7 with P/S ratio of 0.70. The dividend yield of Radian Group Inc. stocks is 0.7%.
CIT Group Inc. (CIT, Financial): Down 37% Since Martin Whitman Bought In the Fourth Quarter
CIT Group, Inc. (CIT), a commercial finance company, announced plans to sell its U.S. Systems Leasing business unit, worth $700 million in assets, to Macquarie Group Ltd. Vice Chairman Thomas Hallman retired in December of 2007. The company also recorded a $250 million pretax gain from selling its interest in Dell Financial Services to Dell Inc. for the fourth quarter.
Martin Whitman and David Dreman both quadrupled their CIT holdings in the last quarter to 1,250,000 shares, and 3,812,916 shares, respectively. Whitman made his buy between $33.76 and $41.51. While gurus Bill Miller and Charles Brandes upped their CIT holdings, Third Avenue Management and Dodge & Cox kept their holdings the same. Guru John Keeley sold out of all his holdings in the third quarter of 2007.
Since early-August, Chairman and CEO, Director, Jeffrey M. Peek, bought 58,300 shares at an average range of $25.30 to $34.86. Another insider buy was made by Director Gary C. Butler, who bought 5,000 shares at $34.77.
Large amount of shares were sold between $40.06 to $42 by Vice Chairman and CFO Joseph M Leone, and Vice Chairman & Chief Lending Officer Lawrence A. Marsiello: 34,500 shares, and 112,430 shares, respectively.
CIT Group Inc. has a market cap of $4.8 billion; its shares were traded at around $23.37 with P/E ratio of 16.95 and P/S ratio of 1.30. The dividend yield of CIT Group Inc. stocks is 4.3%.
MGIC Investment Corp. (MTG, Financial): Down 30% Since Martin Whitman Bought In the Fourth Quarter
All divisions of the mortgage or sub-prime mortgage business are suffering, including the companies that insure the mortgage business, like MTG. The growing delinquent loans forced the company to pay more claims than ever. The company announced that it will anticipate more claim payments through 2008. The current posted loss due to claims is $372.5 million, as of the third quarter.
Martin Whitman added to his MTG holdings to 1,000,000 shares between $19.35 and $36.60. Guru Jean-Marie Eveillard bought 50,000 shares between $28.02 and $57.37. Bill Nygren increased his shares to 1,828,800 shares as of 9/30/07. NWQ Managers currently owns 7,654,091.
Chairman and CEO, Director Curt S. Culver bought 50,000 shares at $19.77. Other insider buys were made between $17.16 to $20.47: President and COO Patrick Sinks bought 19,972 shares; Senior VP & Chief Info Officer Michael G. Meade bought 12,383
Forest City Enterprises Inc. (FCE-A): Down 22% Since Martin Whitman Bought In the Fourth Quarter
The Real Estate Holding & Development Company, Forest City Enterprises Inc. (FCE-a), announced a quarterly dividend of $0.08 a share. The company pulled in a third-quarter revenue of $333.6 million versus $262.5 million, and netted a loss of $0.11.
Martin Whitman upped his FCE-a shares by 3.77% to 7,011,858 shares during the quarter ended 10/31. His purchase prices were between $53.56 and $59.67. In the third quarter, Whitman and Ron Baron both increased their holdings by 24.9% Ron Baron and 15.62%, respectively. Other gurus who own FCE-a shares: Third Avenue Management, Chris Davis, Tom Gayner, and Bruce Sherman.
Forest City Enterprises Inc. has a market cap of $4.5 billion; its shares were traded at around $57.69 with P/E ratio of 41.57 and P/S ratio of 3.69. The dividend yield of Forest City Enterprises Inc. stocks is 0.6%.
Radian Group Inc. (RDN, Financial): Down 41% Since Martin Whitman Bought In the Fourth Quarter
Radian Group, Inc. (RDN), a mortgage insurer, reported a third quarter loss of $704. Million or $8.78 compared to an income of $112 Million or $1.36 in the previous year. The company made a write-off of $304 million on its sub-prime mortgage investment in C-BASS, a joint venture with MGIC Investment. The company’s share price is its lowest this year. Despite all the turmoil, the company declared their quarterly dividend of $0.02.
Martin Whitman made his buy between $11.94 and $24.05; he owns 10,359,150 shares of as of 10/31. Bill Miller, Arnold Schneider, and Third Avenue Management also bought in the third quarter of 2007. NWQ Managers and Jean-Marie Eveillard made little changes to their RDN holdings.
In September, insider buys were made by CEO Sanford A. Ibrahim, who bought 15,000 shares at $17.13, and Director Herbert Wender, who bought 3,400 shares at $16.71.
Radian Group Inc. has a market cap of $969.74 million; its shares were traded at around $11.7 with P/S ratio of 0.70. The dividend yield of Radian Group Inc. stocks is 0.7%.
CIT Group Inc. (CIT, Financial): Down 37% Since Martin Whitman Bought In the Fourth Quarter
CIT Group, Inc. (CIT), a commercial finance company, announced plans to sell its U.S. Systems Leasing business unit, worth $700 million in assets, to Macquarie Group Ltd. Vice Chairman Thomas Hallman retired in December of 2007. The company also recorded a $250 million pretax gain from selling its interest in Dell Financial Services to Dell Inc. for the fourth quarter.
Martin Whitman and David Dreman both quadrupled their CIT holdings in the last quarter to 1,250,000 shares, and 3,812,916 shares, respectively. Whitman made his buy between $33.76 and $41.51. While gurus Bill Miller and Charles Brandes upped their CIT holdings, Third Avenue Management and Dodge & Cox kept their holdings the same. Guru John Keeley sold out of all his holdings in the third quarter of 2007.
Since early-August, Chairman and CEO, Director, Jeffrey M. Peek, bought 58,300 shares at an average range of $25.30 to $34.86. Another insider buy was made by Director Gary C. Butler, who bought 5,000 shares at $34.77.
Large amount of shares were sold between $40.06 to $42 by Vice Chairman and CFO Joseph M Leone, and Vice Chairman & Chief Lending Officer Lawrence A. Marsiello: 34,500 shares, and 112,430 shares, respectively.
CIT Group Inc. has a market cap of $4.8 billion; its shares were traded at around $23.37 with P/E ratio of 16.95 and P/S ratio of 1.30. The dividend yield of CIT Group Inc. stocks is 4.3%.
MGIC Investment Corp. (MTG, Financial): Down 30% Since Martin Whitman Bought In the Fourth Quarter
All divisions of the mortgage or sub-prime mortgage business are suffering, including the companies that insure the mortgage business, like MTG. The growing delinquent loans forced the company to pay more claims than ever. The company announced that it will anticipate more claim payments through 2008. The current posted loss due to claims is $372.5 million, as of the third quarter.
Martin Whitman added to his MTG holdings to 1,000,000 shares between $19.35 and $36.60. Guru Jean-Marie Eveillard bought 50,000 shares between $28.02 and $57.37. Bill Nygren increased his shares to 1,828,800 shares as of 9/30/07. NWQ Managers currently owns 7,654,091.
Chairman and CEO, Director Curt S. Culver bought 50,000 shares at $19.77. Other insider buys were made between $17.16 to $20.47: President and COO Patrick Sinks bought 19,972 shares; Senior VP & Chief Info Officer Michael G. Meade bought 12,383
