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)

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

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

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!