One of the factors that separates gurus from the rest of us is the knack many of them seem to have for buying and/or selling at just the right time. When the subject is transactions in the fourth quarter of 2015, just before the sharp decline in many stocks’ prices in the first weeks of 2016, the decision to divest oneself of stakes seems almost clairvoyant in hindsight.
San Francisco-based RS Investment sold nearly five dozen stakes in its portfolio in the fourth quarter.
Its most noteworthy fourth-quarter transaction was the sale of its 1,808,848-share stake in PRA Group Inc. (PRAA, Financial), a Norfolk, Virginia-based debt collection company. RS Investment sold the stake for an average price of $44.43 per share. The deal had a -0.85% impact on RS Investment’s portfolio.
PRA Group’s largest shareholder among the gurus is Jeremy Grantham (Trades, Portfolio) with 93,100 shares in his portfolio. The stake is 0.19% of PRA Group’s outstanding shares and 0.01% of Grantham’s total assets.
PRA Group has a P/E of 7.6, a forward P/E of 5.4, a P/B of 1.5 and a P/S of 1.4. GuruFocus gives PRA Group a Financial Strength rating of 5/10 and a Profitability and Growth rating of 9/10.
PRA Group sold for $27.14 per share Tuesday – a drop of nearly 39%.
RS Investment sold its 4,788,162-share stake in Dana Holding Corp. (DAN, Financial), an automotive equipment company based in Maumee, Ohio, for an average price of $15.76 per share. The transaction had a -0.68% impact on RS Investment’s portfolio.
Dana Holding’s leading shareholder among the gurus is Mario Gabelli (Trades, Portfolio) with a stake of 5,049,939 shares. The stake is 3.3% of Dana Holding’s outstanding shares and 0.46% of Gabelli’s total assets.
Dana Holding has a P/E of 6, a forward P/E of 5.2, a P/B of 2.1 and a P/S of 0.3. GuruFocus gives Dana Holding a Financial Strength rating of 5/10 and a Profitability and Growth rating of 4/10.
Dana Holding sold for $12.84 per share Tuesday, a dip of nearly 19%.
RS Investment sold its 2,471,275-share stake in Kinder Morgan Inc. (KMI, Financial), a Houston-based oil and gas company, for an average price of $23.65 per share. The divestiture had a -0.61% impact on RS Investment’s portfolio.
David Tepper (Trades, Portfolio) is Kinder Morgan’s leading shareholder among the gurus with 9,445,321-share stake, which is 0.42% of Kinder Morgan’s outstanding shares and 2.81% of Tepper’s total assets. Kinder Morgan is new to Tepper’s portfolio.
Kinder Morgan has a P/E of 34.7, a forward P/E of 17.9, a P/B of 1 and a P/S of 1.9. GuruFocus gives Kinder Morgan a Financial Strength rating of 5/10 and a Profitability and Growth rating of 6/10.
Kinder Morgan sold for $15.62 per share Tuesday, a decline of nearly 34%.
RS Investment sold its 2,177,717-share stake in ExamWorks Group Inc. (EXAM, Financial), an Atlanta-based provider of medical examinations, peer reviews, bill reviews, Medicare compliance, case management, document management, record retrieval and similar services. RS Investment sold the stake for an average price of $26.91 per share. The divestiture had a -0.57% impact on RS Investment’s portfolio.
ExamWorks’ leading shareholder among the gurus is Ron Baron (Trades, Portfolio) with a stake of 799,200 shares. The stake is 1.9% of ExamWorks’ outstanding shares and 0.1% of Baron’s total assets.
ExamWorks has a P/E of 207.8, a forward P/E of 36.5, a P/B of 2.8 and a P/S of 1.3. GuruFocus gives ExamWorks a Financial Strength rating of 3/10 and a Profitability and Growth rating of 6/10.
ExamWorks sold for $24.94 per share Tuesday, a comparatively modest drop of nearly 8%.
RS Investment sold its 688,590-share stake in Teledyne Technologies Inc. (TDY, Financial), a conglomerate based in Thousand Oaks, California, for an average price of $88.75 per share. The transaction had a -0.55% impact on RS Investment’s portfolio.
Teledyne Technologies’ leading shareholder among the gurus is Ken Fisher (Trades, Portfolio) with a stake of 321,529 shares. The stake is 0.91% of Teledyne’s outstanding shares and 0.06% of Fisher’s total assets.
Teledyne Technologies has a P/E of 14.9, a P/B of 2.2 and a P/S of 1.3. GuruFocus gives Teledyne Technologies a Financial Strength rating of 4/10 and a Profitability and Growth rating of 8/10.
Teledyne Technologies sold for $81.64 per share Tuesday. That was another comparatively modest plunge of more than 8%.
RS Investment invested in 52 new stakes in the fourth quarter. The most significant was a 1,998,910-share stake in Myriad Genetics Inc. (MYGN, Financial), a Salt Lake City-based molecular diagnostic company, for an average price of $42.36 per share. The deal had a 0.77% impact on RS Investment’s portfolio.
RS Investment’s stake is 2.81% of Myriad Genetics’ outstanding shares and 0.77% of RS Investment’s total assets. RS Investment’s acquisition made it Myriad Genetics’ leading shareholder among the gurus.
Myriad Genetics has a P/E of 28.6, a forward P/E of 18, a P/B of 3.3 and a P/S of 3.5. GuruFocus gives Myriad Genetics a Financial Strength rating of 9/10 and a Profitability and Growth rating of 8/10.
Myriad Genetics sold for $35.43 per share Tuesday.
RS Investment acquired a 578,370-share stake in Casey’s General Stores Inc. (CASY, Financial), a chain of convenience stores based in Ankeny, Iowa, for an average price of $114.51 per share. The transaction had a 0.62% impact on RS Investment’s portfolio.
RS Investment’s stake is 1.48% of Casey’s General Stores’ outstanding shares and 0.62% of the guru’s total assets. RS Investment is Casey’s General Stores’ leading shareholder among the gurus.
Casey’s General Stores has a P/E of 20.8, a forward P/E of 20.2, a P/B of 4.5 and a P/S of 0.6. GuruFocus gives Casey’s General Stores a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.
Casey’s General Stores sold for $116.83 per share Tuesday.
RS Investment purchased a 2,023,620-share stake in Snyders-Lance Inc. (LNCE, Financial), a snack food company based in Charlotte, North Carolina, for an average price of $36.2 per share. The acquisition had a 0.62% impact on RS Investment’s portfolio.
The stake is 2.86% of Snyders-Lance’s outstanding shares and 0.62% of RS Investment’s total assets. Gabelli is Snyders-Lance’s leading shareholder among the gurus with a stake of 2,256,653 shares in his portfolio. The stake is 3.19% of the company’s outstanding shares and 0.51% of Gabelli’s total assets.
Snyders-Lance has a P/E of 31.4, a forward P/E of 19, a P/B of 2 and a P/S of 1.3. GuruFocus gives Snyders-Lance a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.
Snyders-Lance sold for $30.7 per share Tuesday.
RS Investment trimmed its stake in Euronet Worldwide Inc. (EEFT, Financial), an electronic payment services company based in Leawood, Kansas, by nearly 34%. RS Investment sold 880,090 shares for an average price of $76.52 per share. The deal had a -0.58% impact on RS Investment’s portfolio.
RS Investment’s remaining stake of 1,725,473 shares is 3.27% of Euronet’s outstanding shares and 1.12% of the guru’s total assets. RS Investment is Euronet’s leading shareholder among the gurus.
Euronet has a P/E of 37.5, a forward P/E of 15.3, a P/B of 4.2 and a P/S of 2. GuruFocus gives Euronet a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.
Euronet sold for $65.95 per share Tuesday.
RS Invesment pared its stake in Papa John’s International Inc. (PZZA, Financial), a pizza restaurant and delivery company based in Jeffersontown, Kentucky, by more than 69%. The guru sold 951,232 shares for an average price of $61.54 per share. The transaction had a -0.58% impact on RS Investment’s portfolio.
The guru’s remaining stake is 417,732 shares, which is 1.07% of Papa John’s outstanding shares and 0.21% of RS Investment’s total assets. Columbia Wanger (Trades, Portfolio) is Papa John’s leading shareholder among the gurus with a stake of 1,655,730 shares. The stake is 4.24% of Papa John’s outstanding shares and 0.93% of Columbia Wanger (Trades, Portfolio)’s total assets.
Papa John’s has a P/E of 28.5, a forward P/E of 17.2, a P/B of 41.1 and a P/S of 1.3. GuruFocus gives Papa John’s a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
Papa John’s sold for $50.99 per share Tuesday.
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