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Alan Fournier's 8 Largest Sales of the 3rd Quarter

The guru exited his Evolent Health, United States Steel, Treehouse Foods holdings

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Nov 22, 2017
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Pennant Capital's 

Alan Fournier (Trades, Portfolio) sold shares of the following stocks in the third quarter.

The Evolent Health Inc. (

EVH, Financial) position was closed, impacting the portfolio by -3.28%.

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The health care delivery and payment provider has a market cap of $862.31 million and an enterprise value of $732.27 million.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity (ROE) of -8.33% and return on assets (ROA) of -5.75% are underperforming 74% of companies in the Global Health Information Services industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 2.37 is below the industry median of 6.56.

Columbia Wanger (Trades, Portfolio) is the company's largest shareholder among the gurus with 2.86% of outstanding shares, followed by Steven Cohen (Trades, Portfolio) with 0.51% and Mario Gabelli (Trades, Portfolio) with 0.1%.

The investor trimmed his position in Athene Holding Ltd. (

ATH, Financial) by 44.30%. The trade had an impact of -2.7% on the portfolio.

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The retirement services company has a market cap of $9.81 billion and an enterprise value of $6.09 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. While the ROE of 17.83% is outperforming the sector, the ROA of 1.52% is underperforming 62% of companies in the Global Insurance - Diversified industry. Financial strength has a rating of 7 out of 10 with no debt.

The company's largest guru shareholder is Fournier with 0.58% of outstanding shares, followed by Cohen with 0.53%,

Richard Snow (Trades, Portfolio) with 0.41% and Jim Simons (Trades, Portfolio) with 0.3%.

Fournier exited his United States Steel Corp. (

X, Financial) position. The transaction had an impact of -2.06% on the portfolio.

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The steel producer has a market cap of $4.87 billion and an enterprise value of $6.08 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of 4.96% and ROA of 1.30% are underperforming 71% of companies in the Global Steel industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.58 is above the industry median of 0.42.

With 1.45% of outstanding shares, Snow is the company's largest guru shareholder, followed by

Ray Dalio (Trades, Portfolio) with 0.28% and Paul Tudor Jones (Trades, Portfolio) with 0.01%.

The guru curbed his holding of The Michaels Companies Inc. (

MIK, Financial) by 38.14%, impacting the portfolio by -1.7%.

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The craft store operator has a market cap of $3.47 billion and an enterprise value of $6.16 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of 18.06% and ROA of 88.34% are outperforming 91% of companies in the Global Specialty Retail industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.05 is below the industry median of 0.99.

Fournier has the largest position in the company with 1.4% of outstanding shares, followed by

Lee Ainslie (Trades, Portfolio) with 0.13%.

Fournier sold out of Treehouse Foods Inc. (

THS, Financial), impacting the portfolio by -1.56%.

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The packaged foods manufacturer has a market cap of $2.52 billion and an enterprise value of $5.06 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of -9.98% and ROA of -3.91% are underperforming 89% of companies in the Global Packaged Foods industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.05 is below the industry median of 0.63.

NWQ Managers (Trades, Portfolio) is the company's largest shareholder among the gurus with 2.22% of outstanding shares, followed by Ron Baron (Trades, Portfolio) with 1.54%, Ken Fisher (Trades, Portfolio) with 1.28%, Diamond Hill Capital (Trades, Portfolio) with 0.68% and Joel Greenblatt (Trades, Portfolio) with 0.33%.

Fournier's Huntsman Corp.(

HUN, Financial) stake was reduced by 21.03%, impacting the portfolio by -0.89%.

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The chemical company has a market cap of $7.37 billion and an enterprise value of $10.29 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. While the ROE of 31.96% is outperforming the sector, the ROA of 5.39% is underperforming 53% of companies in the Global Chemicals industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.15 is below the industry median of 0.83.

The company's largest guru shareholder is

David Tepper (Trades, Portfolio) with 2.14% of outstanding shares, followed by Cohen with 1.18%, Jeremy Grantham (Trades, Portfolio) with 0.97% and Fournier with 0.92%.

The investor reduced his Cognizant Technology Solutions Corp. (

CTSH, Financial) holding by 20.91%. The trade had an impact of -0.88% on the portfolio.

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The information technology (IT) services provider has a market cap of $42.4 billion and an enterprise value of $38.51 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 18.47% and ROA of 13.82% are outperforming 80% of companies in the Global Information Technology Services industry. Financial strength has a rating of 8 out of 10. The cash-debt ratio of 5.73 is below the industry median of 6.56.

Richard Pzena (Trades, Portfolio) is the company's largest guru shareholder with 1.17% of outstanding shares, followed by Grantham with 0.68%, Pioneer Investments (Trades, Portfolio) with 0.6% and Matthews Pacific Tiger Fund (Trades, Portfolio) with 0.37%.

Fournier also reduced his Antero Resources Corp.(

AR, Financial) holding by 17.35%, impacting the portfolio by -0.81%.

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The oil and gas producer has a market cap of $5.94 billion and an enterprise value of $11.16 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of -4.99% and ROA of -2.41% are outperforming 62% of companies in the Global Oil and Gas Exploration and Production industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.01 is below the industry median of 0.55.

The company's largest guru shareholder is

Seth Klarman (Trades, Portfolio) with 7.58% of outstanding shares, followed by Glenn Greenberg (Trades, Portfolio) with 3.54% and David Swensen (Trades, Portfolio) with 1.16%.

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

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