3D Systems Corporation (DDD), Groupon Inc (GRPN), Pandora Media Inc (P) & More: Hedge Fund Tiger Global’s Small Cap Picks

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According to the 13F, the fund had 5.4 million shares of Live Nation Entertainment, Inc. (NYSE:LYV) in its portfolio as of the beginning of January. The $2.4 billion market cap concert and entertainment company- whose numbers are highly seasonal- is expected to lose 23 cents per share this year, with an optimistic sell-side than projecting enough improvements in 2014 to imply a still very high forward earnings multiple of 80. As a result it doesn’t look like a good value to us. Fine Capital Partners, managed by Debra Fine, increased its stake in Live Nation between October and December to a total of 8.6 million shares (see more stocks Fine was buying).

Tiger Global reported ownership of almost 11 million shares of $4.2 billion market cap telecom company Frontier Communications Corp (NASDAQ:FTR), though this was down 48% from its holdings at the end of September. Frontier pays a dividend yield of 9.5% at current prices, though it has reduced its quarterly dividend payments over the last couple years. The earnings multiples are high here, and while the yield may be of interest to income investors we would be a bit worried that revenue and earnings declined in the last quarterly report compared to the fourth quarter of 2011.

Disclosure: I own no shares of any stocks mentioned in this article.

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