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Tiziano Frateschi
Tiziano Frateschi
Articles (1261)  | Author's Website |

Michael Price Sells Dolby Labs, EMC

The guru's largest 3rd-quarter transactions

November 21, 2016 | About:

Michael Price (Trades, Portfolio) manages the private firm MFP Investors LLC with $1.6 billion under management, much of it his own money. During the third quarter the guru’s largest trades were:

The guru closed his stake in EMC Corp. (EMC) with an impact of -2.33% on the portfolio.

The company supports the businesses and service providers to transform information technology (IT) operations to an as a service model (ITaaS). It operates in three segments: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure. Second-quarter revenue grew 1% year over year, and non-GAAP operating income increased 32% from the same quarter of a year before.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 9.96% and ROA of 4.58% that are outperforming 63% of the companies in the Global Data Storage industry. Financial strength has a rating of 6 out of 10 with cash to debt of 1.87 that is a few above the industry median of 1.82.

The guru exited his stake in VEREIT Inc. Class A (VER) with an impact of -0.77% on the portfolio.

It is a full-service real estate operating company with investment management capability. It owns, acquires, manages, leases and finances a diversified portfolio of retail, restaurant, office and industrial real estate assets. During the third quarter consolidated decreased $22.1 million to $362.9 million as compared to revenue of $385.0 million for the same quarter a year before, and consolidated normalized EBITDA decreased $15.9 million to $285.9 million as compared to normalized EBITDA of $301.8 million for the third quarter in 2015.

GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of -4.01% and ROA of -1.55% that are underperforming 93% of the companies in the Global REIT - Diversified industry. Financial strength has a rating of 37 out of 10 with cash to debt of 0.02 that is below the industry median of 0.06.

The largest shareholder among the gurus is Larry Robbins (Trades, Portfolio) with 1.48% of outstanding shares followed by Paul Singer (Trades, Portfolio) with 0.01%.

The guru bought 521,500 shares in Regions Financial Corp. (RF) with an impact of 0.68% on the portfolio.

The company provides traditional commercial, retail and mortgage banking services and other financial services in the fields of asset management, wealth management, securities brokerage, insurance, trust services and other specialty financing. Third quarter net income grew 26% from the same quarter of a year before, and diluted earnings per share grew 33% year over year.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 6.35% and ROA of 0.92% that is outperforming 52% of the companies in the Global Banks - Regional - US industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.70 that is below the industry median of 2.02.

The largest shareholder among the gurus is Richard Pzena (Trades, Portfolio) with 2.23% of outstanding shares followed by HOTCHKIS & WILEY with 1.97%, Arnold Schneider (Trades, Portfolio) with 0.23%, Ken Fisher (Trades, Portfolio) with 0.08%, Charles Brandes (Trades, Portfolio) with 0.06%, Price with 0.04% and Jim Simons (Trades, Portfolio) with 0.01%.

The guru reduced his shares in Boston Scientific Corp. (BSX) by 22.22% with an impact of -0.62% on the portfolio.

The company is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. In the third quarter the company reported a growth of 11% for its sales, and GAAP earnings was 17 cents per share compared to a loss of 15 cents a year ago. It delivered adjusted earnings per share of 27 cents for the period compared to 24 cents a year ago.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 1.27% and ROA of 0.45% that are outperforming 50% of the companies in the Global Medical Devices industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.04 that is below the industry median of 3.25.

Vanguard Health Care Fund (Trades, Portfolio) is the largest shareholder among the gurus with 3.42% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 3.07%, Diamond Hill Capital (Trades, Portfolio) with 0.24%, Pioneer Investments (Trades, Portfolio) with 0.14%, Simons with 0.14%, Steven Cohen (Trades, Portfolio) with 0.12% and Samuel Isaly (Trades, Portfolio) with 0.12%.

The guru reduced his shares in Getty Realty Corp. (GTY) by 62.13% with an impact of -0.61% on the portfolio.

The company is a self-administered and self-managed real estate investment trust. It is engaged in the ownership, leasing and financing of retail motor fuel and convenience store properties. Third-quarter net earnings were $8.8 million, or 26 cents per share, as compared to net earnings of $7.0 million, or 21 cents per share, for the same period of a year before.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 11.98% and ROA of 5.63% that are outperforming 69% of the companies in the Global REIT - Retail industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.03 that is below the industry median of 0.06.

The largest shareholder among the gurus is Simons with 2.3% of outstanding shares followed by Price with 0.38%.

The guru bought 85,000 shares in The WhiteWave Foods Co. (WWAV) with an impact of 0.61% on the portfolio.

The company operates as a consumer packaged food and beverage company. It manufactures, markets, distributes and sells branded plant-based foods and beverages, coffee creamers and beverages and premium dairy products. Third-quarter sales increased 5%, and operating income grew 17%. The company reported an increase of 15% for diluted earnings per share and 11% growth for adjusted diluted earnings per share.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 15.47% and ROA of 4.65% that are outperforming 58% of the companies in the Global Packaged Foods industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.03 that is below the industry median of 0.71.

Eric Mindich (Trades, Portfolio) is the largest shareholder among the gurus with 1.89% of outstanding shares followed by Mario Gabelli (Trades, Portfolio) with 0.83%, Jeremy Grantham (Trades, Portfolio) with 0.79%, Paul Tudor Jones (Trades, Portfolio) with 0.28% and George Soros (Trades, Portfolio) with 0.01%.

The guru reduced his shares in Dolby Laboratories Inc. (DLB) by 8.28% with an impact of -0.53% on the portfolio.

The company develops audio, video and voice technologies that transform entertainment and communications in mobile devices, at the theater, at home and at work.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 9.93% and ROA of 8.46% that are outperforming 66% of the companies in the Global Media - Diversified industry. Financial strength has a rating of 9 out of 10 with no debt.

The largest shareholder among the gurus is Simons with 1.21% of outstanding shares followed by Chuck Royce (Trades, Portfolio) with 0.38%, John Hussman (Trades, Portfolio) with 0.1%, Joel Greenblatt (Trades, Portfolio) with 0.06%, Keeley Asset Management Corp (Trades, Portfolio) with 0.06%, Gabelli with 0.06%, Jones with 0.04% and Diamond Hill Capital with 0.01%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

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About the author:

Tiziano Frateschi
You can read about me on this blog: www.theextraincome.info

It gives suggestions on position trading.

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