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Samira Meskini
Samira Meskini
Articles (85) 

Chuck Royce Makes Big Gains on Divestitures

Guru sells Frisch's Restaurants and G-III Apparel

Chuck Royce (Trades, Portfolio) sold many stocks in the third quarter, and the following are the trades that brought the largest gains. He is the president, co-CIO and portfolio manager of Royce & Associates LLC.

The firm had held 816,520 shares of Frisch's Restaurants Inc. (FRS). The stock has been in the portfolio since 2011 but never lost its position. During the third quarter, the firm sold the shares and gained 54% on the investment. The deal had an impact of -0.12% on the portfolio.

GuruFocus rates Frisch's Restaurants’s profitability as 5/10.

It is a regional company that operates family-style restaurants under the name Frisch's Big Boy. As of May 28, 2013, the company operated 95 Frisch's Big Boy restaurants. Additionally, the company licensed the rights to operate 25 Frisch's Big Boy restaurants to other operators.

The firm also exited its position in G-III Apparel Group Ltd. (GII). It had held 277,603 shares and the stock had a long term position in the portfolio since 2011. This quarter the firm sold all its shares and gained 121% on the investment. The deal had an impact of -0.08% on the portfolio.

GuruFocus rates G-III Apparel Group’s profitability as 8/10 and is confirmed by its strong returns that are outperforming the Global Apparel Manufacturing industry.

The company designs, manufactures and markets apparel, including outerwear, dresses, sportswear, swimwear, women's suits and women's performance wear, as well as footwear, luggage and women's handbags, small leather goods and cold weather accessories.

Joel Greenblatt (Trades, Portfolio) and Ken Heebner (Trades, Portfolio) are other investors who closed their holdings.

Royce had held 159,400 shares of Penske Automotive Group Inc. (PAG). The stock has been in the portfolio since 2011. The firm sold the stake in the third quarter and gained 125% on the investment.

GuruFocus rates Penske Automotive’s profitability as 7/10 and is confirmed by its strong returns that are outperforming the Global Auto & Truck Dealerships industry.

The company is the automotive retailer headquartered in the U.S. John Keeley (Trades, Portfolio), Ron Baron (Trades, Portfolio) and Murray Stahl (Trades, Portfolio) reduced their holdings during the quarter.

The firm also exited its position in Hillenbrand Inc. (HI). The investor bought 245,225 shares in Q4 2011 and then in Q3 2013 reduced his holding by 0.65%. In the third quarter, the firm sold all its shares and gained 50% on the investment. The deal had an impact of -0.03% on the portfolio.

GuruFocus rates Hillenbrand’s profitability as 8/10. It is a diversified industrial company that makes and sells premium business-to-business products and services. Its segments include, the Process Equipment Group and Batesville.

John Keeley (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio) and John Keeley (Trades, Portfolio) in this quarter reduced their holdings.

Royce had held 1,166,382 shares of Dot Hill Systems Corp. (NASDAQ:HILL). The stock has been in the portfolio since 2011. This quarter the firm sold the shares and gained 168% on the investment, and the deal had an impact of -0.03% on the portfolio.

GuruFocus rates Dot Hill Systems’s profitability as 4/10. It designs, manufactures and markets a range of software and hardware storage systems for the entry and mid-range storage markets.

Paul Tudor Jones (Trades, Portfolio) is another investor who closed his holding in this quarter.

The firm also exited its position in HRG Group Inc. (HRG). It had held 482,600 shares, and the stock has been in the portfolio since 2011. The firm sold all its shares and gained 51% on the investment. The deal had an impact of -0.03% on the portfolio.

GuruFocus rates HRG Group’s profitability as 4/10 and is confirmed by its negative returns that are underperforming in the Global Conglomerates industry.

Its principal operations are conducted through Spectrum Brands, its majority owned subsidiary that provides branded consumer products.

Jim Simons (Trades, Portfolio), Murray Stahl (Trades, Portfolio) and Scott Black (Trades, Portfolio) reduced their holdings in this quarter.

The company had held 188,683 shares of Magnetek Inc. (MAG). The stock has been in the portfolio since 2011 and the investor has been increasing and reducing his stake but never closed his position. This quarter the firm sold the shares and gained 159% on the investment, and the deal had an impact of -0.03% on the portfolio.

GuruFocus rates Magnetek’s profitability as 5/10 but it has negative returns that are under performing in the Global Electronic Components industry.

The company is a provider of digital power control systems that are used to control motion and power mainly in material handling, elevator, and energy delivery applications.

The stock lost its position in the portfolio of Jim Simons (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio).

About the author:

Samira Meskini
I am a self made long term investor, like to look for stocks to hold forever.

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