Mario Gabelli’s Latest Moves: Xyratex Ltd. (XRTX), BioScrip Inc (BIOS), & LIN MEDIA LLC (LIN)

In another round of filing with the Securities and Exchange Commission, Mario Gabelli has revealed his latest moves. Together with GAMCO Investors and its subsidiaries, Gabelli has dumped the 1.54 million shares of Xyratex Ltd. (NASDAQ:XRTX) they have bought earlier this year. In another move, Gabelli has massively increased his fund’s investment in BioScrip Inc (NASDAQ:BIOS) to 3.69 million shares, which account for 5.42% of the company’s common shares. Last but not least, Gabelli and GAMCO have increased their stake in LIN MEDIA LLC (NYSE:LIN) to 2.92 million shares or 8.47% of the total number of shares outstanding.

Mario Gabelli

Xyratex Ltd. (NASDAQ:XRTX) is held in high regards by Matthew Drapkin and Steven R. Becker, who have built a new position for their fund in the fourth quarter of 2013. Becker Drapkin Management reported ownership of 1.22 million shares valued at $16.2 million in its latest 13F filing. Paul Glazer, the manager of Glazer Capital, is also betting big, having acquired approximately 489,200 shares for his fund in the same period, a position worth around $6.5 million.

Xyratex Ltd. (NASDAQ:XRTX) is a provider of modular solutions for data storage devices. The company has a market cap of $364 million and does not pay a dividend. So far this year, the stock has been trending sideways, close to the start-of-the-year price of $13.29 per share. With a current price of $13.24, the stock is traded at a forward Price to Earnings (P/E) ratio of 17.42. For the three months ending Novemeber 30, Xyratex posted revenues of $185 million and a loss per share of $0.76. Previous quarter is expected to bring $166 million in revenue and a loss per share of $0.1.

Phil Frohlich is also betting big on BioScrip Inc (NASDAQ:BIOS), with his fund, Prescott Group Capital Management, having increased its stake by 128% during the Q4 of 2013. In its latest 13F report, Prescott has revealed ownership of 2.43 million shares worth approximately $18 million. Alan Fournier is also a fan, having upped his fund’s stake by 44% in the same period. Pennant Capital Management holds more than 5 million shares reportedly worth $37.7 million.

A provider of home health care services, BioScrip Inc (NASDAQ:BIOS) has a market cap of $473 million and does not pay a dividend. The company announced revenues of $243 million and a loss of $0.16 per share for the three months ending December 31, 2013. For the first quarter of 2014, it is expected to register $223 million in revenues and a loss per share of $0.03. The stock has entered a downtrend following the $17.62 high in July 2013 and has been trending sideways since the start of 2014. With a current price of $6.93 per share, the stock is trading at a forward P/E ratio of 49.50. It is recommended as a Buy and Strong Buy.

Keith Meister is also very bullish on LIN MEDIA LLC (NYSE:LIN) and has increased his fund’s stake by 69% during the fourth quarter of 2013. Corvex Capital reported ownership of 949,600 shares worth approximately $27.2 million. Bart Baum has massively increased his fund’s investment in Lin Media during the same period, taking it to 726,100 shares reportedly worth $20.8 million.

LIN MEDIA LLC (NYSE:LIN) is a local multimedia company that operates in the United States. It has a market cap of $922 million and does not pay a dividend. The stock is traded at a trailing P/E ratio of 9.xx, approximately twice the industry average of 4.20. The company has posted revenues of $184 million and earnings of $0.1 per share for the fourth quarter of 2013. Analysts’ estimates for the first quarter of 2014 are as follows: revenues of $165 million and EPS of $0.05.

Disclosure: none.

Recommended reading:

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