Many of This Fundamentals-Focused Fund’s Top Picks Are Hitting Home Runs

#3 Primo Water Corporation (NASDAQ:PRMW)

Shares held (as of September 30): 1.78 million

Total Value (as of September 30): $13.46 million

Percent of Portfolio (as of September 30): 5.74%

The $239.27 million provider of purified bottled water has been continuously on Manatuck’s portfolio since the first quarter of 2014. However, Primo Water Corporation (NASDAQ:PRMW)’s stock performance has never been as strong as this year as it has more than doubled in value. The company managed to beat both the top and bottom line estimates in its financial results for the first fiscal quarter ending in September as revenues of $33.86 million were $1.89 million higher than expectations while EPS of $0.05 beat the estimates by $0.01. Wynnefield Capital, which is led by Nelson Obus held almost 1.92 million shares of Primo Water Corporation (NASDAQ:PRMW) at the end of the June quarter.

 

#2 Carmike Cinemas, Inc. (NASDAQ:CKEC)

Shares held (as of September 30): 941,945

Total Value (as of September 30): $18.92 million

Percent of Portfolio (as of September 30): 8.07%

Manatuck trimmed its Carmike Cinemas, Inc. (NASDAQ:CKEC) holding by 3% during the third quarter. Shares of the motion picture exhibitor company have fallen by about 9.3% so far this year. While the company managed to beat top line estimates for the September quarter, the bottom results were below expectations as costs rose faster than revenues. However, the company did manage to deliver record operating revenue growth for the third quarter. Moreover, the company is set on its industry consolidation path and acquired Sundance Cinemas for $36 million in early October. Israel Englander‘s Millennium Management is another prominent stockholder of the company and it held about 891,300 shares of Carmike at the end of the second quarter.

 

#1 Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI)

Shares held (as of September 30): 553,300

Total Value (as of September 30): $31.18 million

Percent of Portfolio (as of September 30): 13.29%

During the July-September quarter Manatuck disposed of 32,200 shares of the $1.19 billion operator and franchiser of quick-service restaurants. The company’s stock price is down by a little over 9% so far this year, but gained some ground yesterday in after hours trading following the company’s third quarter financial results, which delivered an EPS of $0.47 coming in $0.02 higher than what analysts anticipated. Revenues of $61.1 million were, however, $0.8 million lower than expectations. The company also raised its full-year guidance for the same-store sales growth to 5%-5.5% from 4.5%-5.5%, and also the EPS range to $1.86-$1.91 from $1.85-$1.90. Renaissance Technologies held nearly 932,000 shares of Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI) at the end of June.

 

Disclosure: None