Algert Colderon Top Bullish Moves During Q1

Algert Coldiron Investors, a hedge fund based in San Francisco and run by Peter Algert and Kevin Coldiron, has released its latest 13F filing. The equity portfolio has suffered many changes, including the addition of a new top holding - Tenneco Inc (NYSE:TEN), a manufacturer of auto parts. Also among the top stock picks of Algert and Coldiron are Sigma Designs Inc (NASDAQ:SIGM) and Greif, Inc. (NYSE:GEF). We will, however, take a look at the most important bullish moves spotted in the fund’s equity portfolio.

sigma designs

During the first quarter of 2014, Algert and Coldiron have increased their fund’s stake in Endeavour Silver Corp (NYSE:EXK) by 131% taking it to 383,600 shares, worth approximately $1.65 million. Chuck Royce also holds a significant investment in this company, which amasses 1.54 million shares, according to his fund’s latest 13F filing. The stock has surged 20% so far in 2014 to a current price of $4.49 per share, which gives the company a market cap of $454 million. Endeavour reported an increase in revenues by over 30% on the year to $276 million, but a net loss of $89 million versus a profit of $42.1 a year earlier.

Next up is Imation Corp. (NYSE:IMN), a storage and data security company with a global reach. This is a new position that Algert and Coldiron have added to their equity portfolio during the previous quarter and it comprises 180,846 shares valued at $1.04 million. The company has a market cap of $193 million and does not pay a dividend. For the last year, the company registered revenues worth $861 million, down from over $1.0 billion a year earlier, however, it managed to narrow its net loss to $0.37 per share, from $0.90. First quarter of 2014 is expected to bring $184 million in revenues and a loss per share of $0.25. So far this year, the stock has advanced to a high of $6.6 per share in March, but has fallen back to the start-of-the-year level and is currently traded at $4.6 per share. Analysts recommend holding the stock and set an average price target of $8 per share.

Algert Coldiron Investors has also reported a 34% increase in its holding of Sigma Designs Inc (NASDAQ:SIGM) stock to 669,415 shares valued at approximately $3.18 million. John W. Rogers, the manager of Ariel Investments, also holds a significant stake in the company: 3.49 million shares. So far this year, the stock has been dancing around the $4.6 level and is currently down 19% to a price of $3.83 per share, which gives the company a value of $132 million. For the current quarter, the company is expected to register $36.9 million in revenues and a loss per share of $0.15.

Another stock that Algert and Coldiron have been bullish on is Dot Hill Systems Corp. (NASDAQ:HILL), a manufacturer of software and hardware storage systems. The fund has disclosed ownership of 197,335 shares, up 406% from the previous quarter, valued at $764,000. Jim Simons is also optimistic about the prospects of this company and is holding 2.4 million shares. Dot Hill Systems is currently trading at $3.93 per share, which gives it a market cap of $237 million. The stock is traded at a trailing P/E ratio of 48.xx and a forward P/E ratio of 13.13, which suggests that the company is expected to improve its earnings potential. It posted revenues of $58.8 million and earnings of $0.04 per share for the Q4 of 2013.

Last but not least is Pixelworks, Inc. (NASDAQ:PXLW), a developer of semiconductors and software for digital video applications. Algert Coldiron has reported ownership of approximately 145,400 shares worth some $805,000. The company has a market cap of $114 million and does not pay a dividend. It has registered revenues of $14.9 million and earnings of $0.00 per share for the 2013 fourth quarter and is expected to announce revenues of $13 million and a loss per share of $0.07 for the first quarter of this year. So far this year, the stock has climbed a modest 5% to a current price of $5.10 per share. Although the stock had reached $9 per share in March, it has fallen straight back.

Disclosure: none.

Recommended reading:

Beech Hill Partners Top Five Holdings at the End of March

Five Largest Holdings from WCG Management’s Equity Portfolio

Rail-Splitter Top Largest Holdings Positions From the Equity Portfolio

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