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Sally Jones
Sally Jones
Articles (580) 

No “Subpoenas Envy” Here as SAC Capital Trades

March 28, 2013

As billionaire-wanna-bees, we may often envy top Guru investors, but we really can’t imagine their headaches or nightmares, and not one of us can claim “subpoenas envy” when we look at the embattled SAC Capital Advisors this week. As Steven Cohen’s company SAC Capital Advisors pays the biggest insider trading fine in history, approximately $616 million, Guru Cohen added 371.07% to his position of Stage Stores, Inc. (SSI) shares, listing current shares at 1,762,256, as of March 26, 2013. The current price is $25.88, with a change from average down 1%.

SAC Capital neither admitted nor denied wrongdoing in the SEC lawsuit, with investigations starting back in 2010, according to The Guardian. Read more about the SAC Capital settlement.

Guru Cohen is one of the most successful traders in the world, and as far as investments go, he has been increasing his clothing retailer positions in the last year, an interesting fact since a number of competing retailers like J.C. Penney, Sears, Kmart and others are forecast to close hundreds of stores this year. Further, the popular clothing retailer, Express Inc. is crawling this current quarter as consumers cling to their money. According to Reuters, Express Inc.’s CEO Michael Weiss told analysts earlier this month, "Consumers appeared cautious due to the macroeconomic environment and uncertainty around budget cuts, and also the impact of higher payroll taxes." A report from the National Retail Federation also confirms slowing growth in the sector, showing that retail industry sales are projected to grow only 3.4% in 2013, less than the preliminary 4.2% in 2012.

After significantly bumping up his Ann Taylor (ANN) position in early March, Cohen is now boosting the Texas-based Stage Stores, Inc. (SSI), an operator of 813 department stores in 40 states. Stage Stores, Inc. includes Bealls, Goody's, Palais Royal, Peebles and Stage. The company has a market cap of $825.79 million. Its P/E ratio is 21.6, and the P/S is 0.5079. Current share price for SSI is $25.89, up 4% year to date.

His SSI holding history:

Here’s a look at Cohen’s holdings in Ann Taylor Stores (ANN), the “aspirational luxury brand” for working women.

Steven “Stevie” Cohen has a reputation for being a highly intuitive hedge fund investor. As of March 27, 2012, SAC Capital’s portfolio shows 1585 stocks, with 429 new stocks, at a total value of $20.3 billion. SAC Capital’s quarter over quarter turnover is 42%.

Cohen’s top buys, sells and holdings:

About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

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