Telephone & Data Systems, Inc. (TDS) And Two Other Moves From Mario Gabelli and GAMCO Investors

GAMCO Investors and its legendary manager, Mario Gabelli, have been busy this week as well. In a series of filings with the Securities and Exchange Commission, GAMCO has revealed 3 important changes to its equity portfolio. Gabelli and GAMCO have reported an increase in their holding of Chemtura Corp (NYSE:CHMT) to more than 5 million shares, which accounts for 5.28% of the company’s common stock. Another notable change is the increase in their holding of Lennar Corporation(NYSE:LEN.B) stock. Gabelli and Gamco, together with its subsidiaries, now hold 2.24 million Class B shares, or 7.17% of the number of shares outstanding. Last, but not least, they have reported a decrease in their stake in Telephone & Data Systems, Inc. (NYSE:TDS) from 8.26 million to 8.23 million shares, which accounts for 8.11% of the total number of shares outstanding.

Mario Gabelli with cereal box

Chemtura Corp (NYSE:CHMT) has also attracted the attention of Gilchrist Berg, the manager of Water Street Capital. During the previous quarter, Dinan has increased his fund’s stake by 18% to 4.7 million shares valued at $131 million. David Gallo of Valinor Management has, on the other hand, decided to limit his fund’s exposure to the stock by 28% to approximately 1.5 million shares valued at $41.7 million.

A specialty chemicals manufacturer, Chemtura Corp (NYSE:CHMT) has a market cap of $2.43 billion and does not pay a dividend. The stock has been in an uptrend since October 2011, but has suffered a correction in the beginning of 2014. It is traded at a forward Price to Earnings (P/E) ratio of 14.xx and has a beta of 2.37. For the three months ending December 31, 2013, Chemtura reported revenues of $544 million and earnings of $0.23 per share. Current quarter is expected to bring $553 million in revenues and EPS of $0.19. The company is set to release the earnings report on April 30, after market close.

Billionaire investor Ken Griffin is also bullish on Lennar Corporation (NYSE:LEN.B), with his fund, Citadel Investment Group, having increased its stake by 37% to 2.86 million shares valued at $113 million during the previous quarter. Ricky Sandler and Eminence Capital have also increased their stake to 2.47 million shares reportedly worth in excess of $98 million.

Lennar Corporation (NYSE:LEN.B) engages in home building and is active only in the United States. The company has a market cap of $7.84 billion and pays an annual dividend of $0.16, which represents a yield of 0.5%. For the three months ending November 30, 2013, Lennar posted revenues of $1.9 billion and earnings of $0.73. Analysts expect the company to register revenues of $1.67 billion and EPS of $0.51 for the current quarter.

Hedge fund guru, Jim Simmons is also a fan of Telephone & Data Systems, Inc. (NYSE:TDS). During the previous quarter, Renaissance Technologies has increased its holding of the stock to 1.87 million shares reportedly worth $48.4 million. Chuck Royce is also keeping tabs, as his fund, Royce & Associates owns approximately 1.4 million shares valued at $36.3 million.

A provider of wireless and wireline telecommunications services, Telephone & Data Systems, Inc. (NYSE:TDS) has a market cap of $2.77 billion and pays an annual dividend of $0.51, which carries a yield of 2%. The company reported revenues of $1.18 billion and a loss per share of $1.51 for the 2013 fourth quarter. Market participants expect Telephone & Data Systems to post $1.2 billion in revenues and a loss of $0.32 per share for the Q1 of 2014. The stock has been in a continuous slide since the start of the last decade, when it reached its all time high of $125.77 per share. So far this year, it has been trending sideways and has fallen 1.4% to a current value of $25.41 per share.

Disclosure: none.

Recommended reading:

Mario Gabelli Reveales Latest Moves In Its Equity Portfolio

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

Mario Gabelli and GAMCO Up Stake in Griffon Corporation (GFF)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

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!