On Sept. 22 active trader
Jerome Lande of Coppersmith Capital Management disclosed that he holds a new ownership stake in his portfolio by purchasing 1.43 million shares of technology company Itron Incorporation (NYSE:ITRI).
Until June Lande's portfolio consisted of pharma company Conmed Corp. (NYSE:CNMD), but the trader acquired a new stock that is completely new to his portfolio. The stock has dropped 17.19% over the past year; currently it is trading around the level of $32.09, which is lower than October 2011 price. In addition to the purchase of an Itron stake, another more important fact revealed by the freshly disclosed filing – Lande has teamed up with Scopla Capital Management to disclose a group stake of 2.35 million shares, which accounts for 6.2% of outstanding shares.
Final comment
Itron Corporation has a market cap of $11 billion and an enterprise value of $35 billion. It has a P/B of 1.91 and a P/S of 0. 62, lower than the industry median of 1.78. With 1.43 million shares in his portfolio, Lande is Itron Corporation’s leading shareholder among the other members.
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