First Eagle Investment Management on Aug. 31 reported adding to positions in two holdings: CUI Global Inc. (CUI, Financial) and Pain Therapeutics Inc. (PTIE, Financial).
The First Eagle Funds focus on long-term absolute return while protecting against market downturns. Each of the funds have gained year to date.
The larger increase was a 22.38% boost in the fund’s CUI Global holding, reflecting new shares 385,927, according to GuruFocus Real Time Picks. The transaction brings the total holding size to 12,110,485 shares, a 10.23% stake in the company. First Eagle started the position in the first quarter:
CUI Global is a company that acquires and develops other companies, products and technologies. In the second quarter, its revenue increased 6% to $19.2 million, and its net loss totaled $66,000 compared to a net profit of $437,000 a year prior.
CUI Global's 10-year revenue and earnings history:
Second First Eagle grew its position in Pain Therapeutics Inc. (PTIE, Financial) by 3.78% to a total of 4,643,950 shares, which represents 10.15% of outstanding shares. The fund has increased its stake in the company each quarter since beginning the position in third quarter 2012.
Pain Therapeutics is a pharmaceutical company that develops new drugs. In the second quarter, Pain Therapeutics reported a net loss of $3.2 million compared to a net loss of $0.3 million a year prior and had no revenue.
Pain Therapeutics’ long-term revenue and earnings history:
It also reported net cash of $44.8 million and has no debt.
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