Prescott Group Capital Management’s Top New Holdings

Managed by Phil FrohlichPrescott Group Capital Management has recently revealed its equity portfolio allocation for the first quarter of 2014, according to the fund’s latest 13F filing with the Securities and Exchange Commission. The fund holds a diversified $526.4 million worth portfolio, of which almost 23.00% is invested in Technology stocks and 30.00% in Services. During the last 3 months, its value remained almost unchanged, gaining only 0.60%. Prescott slightly increased its largest holding, Air Transport Services Group Inc. (NASDAQ:ATSG), to 5.89 million shares with an aggregate value of $46.21 million – a 8.72% stake in the equity portfolio’s total value. The fund hasn’t made any changes in its second most substantial position, Nature’s Sunshine Prod. (NASDAQ:NATR), but the position lost around 20.00% of its value in the last 3 months, now worth $25.70 million.

Air Transport Services Group Inc. (NASDAQ:ATSG)

Prescott Group Capital Management has reported adding some 38 new stocks to its portfolio and disposing of 32 other holdings. Nu Skin Enterprises, Inc. (NYSE:NUS), a global company engaged in the development and distribution of anti-aging personal care products and nutritional supplements, represents the fund’s most significant new holding – a stake of 35,000 shares worth $2.90 million. Last year, the company delivered earnings per share of $5.24, slightly above market expectations. In January 2014, the stock sank around 36.00%, after an investigation by Chinese authorities into its business practices in the country. The stock slowly recovering, analysts predict a mean target price of $105.00, compared to the current price of around $88.90, and strongly recommend that investors buy.

Phil Frohlich initiated a new stake in AerCap Holdings N.V. (NYSE:AER), a global company which engages in the acquisition and subsequent leasing of aviation assets, and which provides aircraft management services. The stake amounts to 56,700 million shares, with a total value of $2.40 million. AerCap’s stock price nearly tripled in the past 12 months to a current price of around $43.70 apiece – 21.00 times the company’s earnings per share.

The fund also revealed a new position of 20,000 shares worth $2.12 million in Signet Jewelers Ltd. (NYSE:SIG) - a specialty retail jeweler. Signet trades at a P/E ratio of 22.75, compared to the industry average of 17.00. Signet Jewelers reported profits of $360.00 million or $4.37 per share for 2013 and $368.00 million or $4.59 per share in 2014. Expecting the retail jeweler to generate $5.60 per share in 2015, analysts provide an average recommendation of ‘Overweight’ for its stock.

Old Dominion Freight Line (NASDAQ:ODFLis another recently new stock in Prescott Group Capital Management’s equity portfolio. The fund holds 30,700 shares in the company, the position valued at $1.74 million. Old Dominion is a motor carrier providing regional, inter-regional, and national less-than-truckload service and logistics services. The company’s stock price has been consistently rising in the past 5 years, currently trading at $60.73. Generating earnings of $2.39 per share in 2013, Old Dominion is expected to produce $2.82 per share this year. Two other funds holding Old Dominion Freight Line (NASDAQ:ODFL)’s shares are Ross Margolies‘ Stelliam Investment Management and John Brennan‘s Sirios Capital Management. The former owns 722,500 shares of the company, while the latter – almost 719,000.

Finally, computer software company Tableau Software Inc (NYSE:DATA) is also among the fund’s new investments, with a position of 20,000 shares, which amass a value of $1.52 million. As an emerging Tech stock, Tableau generated significant profits only last year – $0.31 per share, compared to previous years’ average (2010-2012) of $0.016 per share. Analysts strongly suggest that investors buy the company’s stock, setting a target price of $95.40 per share, a number which is considerably higher than the current price of $58.46.

Disclosure: none

Recommended reading:

Greenhaven Associates’ Largest Equity Changes From the Latest 13F

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