Cadence Pharmaceuticals, Inc. (CADX), Griffin Land & Nurseries, Inc. (GRIF) and Three Other Moves From Mario Gabelli and GAMCO Investors

As usual, Mario Gabelli has been very active this week. His fund, GAMCO Investors, has reported two new positions and has increased its investment in three other companies. Gabelli managed to beat the S&P500 by 2% on average since 1986 and currently oversees more than $45 billion in assets under management. Preliminary 2013 results show a return of 36.2% compared to S&P500′s 32.4% and the 33.6% for the Russell 3000. This week, Gabelli added a new pharmaceutical stock to his fund’s portfolio and increased the holding of another. Let’s take a look at the financials behind these and other stocks recently added.

Mario Gabelli with cereal box

At the start of the week GAMCO reported an increase in its holding of Griffin Land & Nurseries, Inc. (NASDAQ:GRIF), a provider of real estate and landscaping services. The fund has increased its investment to 1.73 million shares, which account for a third of the company’s common stock. Griffin Land & Nurseries has a market cap of $156 million and pays an annual dividend of $0.20, which represents a yield of 0.7%. The company posted revenues of $8.01 million and earnings of $0.22 per diluted share for the 13 weeks ending November 30, 2013.

Gabelli has also slightly increase his fund’s stake in Bassett Furniture Industries Inc. (NASDAQ:BSET). According to a recent filing with the Securities and Exchange Commission, GAMCO purchased 112,800 shares, amassing 778,545 shares or 7.16% of the total number of shares outstanding. Ken Griffin has, on the other hand, limited his exposure to this stock, with Citadel Investment Group slashing its holding by 42% during the previous quarter. The company engages in the production but also the import of home furnishings. It has a market cap of $170 million and pays an annual dividend of $0.43, offering a yield of 2.7%. The stock is traded at a Price to Earning (P/E) ratio of 33.xx, not far away from the industry average of 39.80. For the 13 weeks ending November 30, 2013, Bassett Furniture Industries reported $83 million in revenues and $0.17 in earnings per share (EPS).

Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) has caught the eye of the billionaire investor, with GAMCO opening a new position following the acquisition of 5.13 million shares, which account for 5.76% of the common stock. Israel Englander is particularly bullish on this stock, with his fund, Millennium Management, increasing its holding by 844% during the last quarter. The company has a market cap of $1.25 billion and does not pay a dividend. So far this year, the stock has advanced 54% to a current price of $13.99. Cadence Pharmaceuticals posted revenues of $35.3 million, surpassing expectations of $32.2 million, and a loss per share of $0.05 for the previous quarter. Analysts expect the company to register revenues of $37 million and a loss of $0.02 per share for the current quarter.

Another pharmaceutical stock among GAMCO’s moves this week is Hi-Tech Pharmacal Co. (NASDAQ:HITK). Gabelli increased his fund’s position by 39%, taking it to 779,949 shares or 5.61% of the company’s shares outstanding. Jim Simons is also betting big on this company, with Renaissance Technologies increasing its stake by 35% during the previous quarter. The company has a market cap of $603 million and does not pay a dividend. The stock is traded at a P/E ratio of 85.23 and has been trending sideways since the start of 2014. For the three months ending January 31, 2014, Hi-Tech Pharmacal posted revenues of $59.9 million and earnings of $0.59 per diluted share. Current quarter is expected to bring revenues of $63.5 million and earnings of $0.64 per share.

Last but not least is the new investment in Gamco Investors Inc. (NYSE:GBL), an investment advisory company founded and run by Gabelli himself. GAMCO, bought a little over 1 million Class A shares, which account for 13.32% of the total number of Class A shares. Ken Griffin’s Citadel Investment Group holds 7,479 shares, up 73% during Q4 of 2013, while Jim Simons and Renaissance Technologies hold 34,400 shares valued at a little under $3 million. The company has a market cap of $2.15 billion and pays an annual dividend of $0.73, which represents a yield of 0.9%. The stock trades at a trailing P/E ratio of 17.xx, close to the industry average of 20.90.  Gamco Investors Inc. announced revenues of $122 million and EPS of $1.32 for the fourth quarter of 2013.

Disclosure: none.

Recommended reading:

Kyle Bass, Hayman Advisors Up Their Stake In Nationstar Mortgage Holdings Inc (NSM)

Bill Gates’ Investment Arm Reports Stake in Arcos Dorados Holding Inc (ARCO)

Hedge Fund News: Carl Icahn, Marc Faber & SAC Capital Advisors

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!