Trinity Place Holdings Inc $ 4.09 0.08 (2%)
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TPHS News and Headlines - Trinity Place Holdings
[url=http://www.gurufocus.com/StockBuy.php?GuruName=Michael+Price]Michael Price[/url] ([url=http://www.gurufocus.com/StockBuy.php?GuruName=Michael+Price]Trades[/url], [url=http://www.gurufocus.com/holdings.php?GuruName=Michael+Price]Portfolio[/url]), founder and general partner of MFP Partners LP, a public equity manager in New York, has increased by 46.43% his stake in real estate development and intellectual property company Trinity Place Holdings (TPHS).
Price founded his own asset management company in 1998 based on value investing principles. He invests mostly in small and mid-cap companies primarily in the U.S. that trade at significant discounts to their intrinsic value. In potential investment companies, he emphasizes the importance of balance sheets, management teams and capability of withstanding economic downturns.
He started a position in Trinity Place Holdings in
“A good time to start in [the investing] business is when markets are terrible…. We wait for bad news… I love to read about losses.” --Michael Price
He went from one end of the wealth scale to the other by becoming an investment manager and outperforming most of his peers. Or, did he?
Who is Price?
The guru was born
Michael Price (Trades, Portfolio), manager of MFP Investors, bought 25 new stakes in the fourth quarter. The largest was his purchase of a 3,578,527-share stake in BMC Stock Holdings Inc. (STCK), an Atlanta-based building materials and solutions provider for professional contractors.
The guru paid an average price of $16.9 per share in a deal that had a 7.39% impact on his portfolio.
Price’s stake is 5.47% of the company’s outstanding shares and 7.39% of his total assets. Price is BMC’s leading shareholder among the gurus.
BMC Stock Holdings has a P/E of 29.8, a P/B of 2.7
Kahn Brothers (Trades, Portfolio) makes few sweeping changes to its portfolio. It is a rare quarter when the guru neither buys a new stake nor sells an old one, but that was the case in the fourth quarter. All its activity in the quarter was in existing stakes.
Kahn Brothers (Trades, Portfolio)’ most noteworthy fourth-quarter transaction was the sale of more than 6% of its stake in Pfizer Inc. (PFE), a Groton, Connecticut-based pharmaceutical company. Kahn Brothers (Trades, Portfolio) sold 101,166 shares for an average price of $33.17 per share. The
Another addition to an existing position came from the Fund committing to subscribe to the Trinity Place Holdings (Trinity Place) Rights Offering. Trinity Place (OTCPK:TPHS) was formerly the retail operations of Syms and Filene’s Basement that emerged from bankruptcy in 2013 as a company focused on realizing the value from the remaining assets, including: (i) well-located real estate properties, (ii) intellectual property primarily from Filene’s Basement, and (iii) substantial tax attributes. Since the Fund made its initial investment in 2013, the company has achieved a number of significant milestones under the leadership of its CEO, Matt Messinger, and is now
|2019-06-21 $ 4.11 (1.48%)|
|2019-06-13 $ 3.95 (1.02%)|
Michael Price Adds to Stake in Popular Value Stock Trinity Place - GuruFocus.com
|2018-11-07 $ 5.36 (0.75%)|
|2013-04-18 $ 4.14 (0.73%)|