Context Capital Management, LLC filed in the last days its Q2 2015 and according to it, it ended the quarter with a portfolio value of $57.77 million (an increase of $2.59 million from the previous quarter. 48.42% of the institutional investor’s portfolio is listed in the US.
During the quarter (Q2 2015) it bought 10 new stocks (here are listed the top 5 buys) and it sold out its stakes as follow :
It sold out its stake in Green Plains Inc (GPRE) and before this sale the stake was 6.23% of total assets of its portfolio.
The company is a producer, marketer and distributor of ethanol. The ethanol it produces is fuel grade and is an alcohol produced principally from the starch extracted from corn. The Company has four separate operating segments: Ethanol Production; Corn Oil Production; Agribusiness and Marketing and Distribution.
It is trading with a very low P/E(ttm) ratio of 9.24 and during the last 12 months the price has dropped by 28% but is still overpriced by 37% according to the DCF calculator
The company’s revenue has risen by 8.80% over the last 12 months, and the current returns are outperforming the Global Specialty Chemicals industry: ROA is 6.71% and ROE is 15.41%.
Steven Cohen (Trades, Portfolio) is the main hedge fund holding shares of the company with 5% of shares outstanding, followed by Jim Simons (Trades, Portfolio) with 0.38% and Chuck Royce (Trades, Portfolio) with 0.17%.
It sold out its stake in Tesla Motors Inc. (TSLA) and before this sale the stake was the 4.36% of total assets of its portfolio.
The company designs, develops, manufactures and sells high-performance fully electric vehicles and electric vehicle powertrain components. It owns its sales and service network and has operationally structured its business in a manner that it believes will enable it to rapidly develop and launch electric vehicles and technologies.
It is trading with a very high forward P/E ratio of 70.92 and during the last 12 months the price has risen by 24%.
The company’s revenue has risen by 65.10% over the last 12 months but the current returns are still underperforming the Global Auto Manufacturers industry: ROA is -7.39% and ROE is -43.68%.
PRIMECAP Management (Trades, Portfolio) is the main hedge fund holding shares of the company with 1% of shares outstanding, followed by Ron Baron (Trades, Portfolio) with 0.96%.
It sold out its stake in ANI Pharmaceuticals Inc. (ANIP) and before this sale the stake was the 4.16% of total assets of its portfolio.
The company, together with its subsidiary is a specialty pharmaceutical company developing, manufacturing and marketing branded and generic prescription pharmaceuticals products. Its targeted areas of product development currently include narcotics, oncolytics (anti-cancers), hormones and steroids, and complex formulations involving extended release and combination products.
It is trading with a P/E(ttm) ratio of 26.24 and during the last 12 months the price has risen by 111%.
The company’s revenue has dropped by 33.40% over the last 12 months but the current returns are still outperforming the Global Biotechnology industry: ROA is 17.94% and ROE is 26.21%.
Jim Simons (Trades, Portfolio) is the main hedge fund holding shares of the company with 0.48% of shares outstanding, followed by Joel Greenblatt (Trades, Portfolio) with 0.34%.
It sold out its stake in AK Steel Holding Corp. (AKS) and before this sale the stake was 2.02% of total assets of its portfolio.
It is a producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly owned subsidiary, AK Steel Corporation. Its operations consist of nine steelmaking and finishing plants and tubular production facilities located in Indiana, Kentucky, Ohio and Pennsylvania.
It is trading with a forward P/E ratio of 15.95 and during the last 12 months the price has dropped by 66%.
The company’s revenue has increased by 6% over the last 12 months but the current returns are underperforming the Global Steel industry: ROA is -7.30% and ROC is -3.04%.
Jim Simons (Trades, Portfolio) is the main hedge fund holding shares of the company with 1.10% of shares outstanding, followed by Chuck Royce (Trades, Portfolio) with 0.95%.
Other sales :
While the above stakes have been sold out, the fund has reduced the following stocks’ positions as follows:
Blucora Inc (BCOR) -85.61%, Garnero Group Acquisition Co. (GGAC) -8.85% and AAR Corp (AIR) -18.50%.
