Tesla Motors (TSLA), Citigroup (C) Can’t Stop Mangrove Partners From Handily Beating the Market

Shares of Lamar Advertising Co (NASDAQ:LAMR) also had a strong first quarter, appreciating by 11.81%. Mangrove’s position consisted of 246,102 shares valued at $13.20 million, with the position being increased by 31% during the fourth quarter. As its name would suggest, Lamar Advertising Co (NASDAQ:LAMR) is involved in advertising, specifically outdoor advertising in the form of billboards and posters. Lamar Advertising Co (NASDAQ:LAMR) remains a top pick of activist Keith Meister, who remains the largest shareholder of Lamar Advertising in our database.

Just as Mangrove wisely increased its position in the previous two stocks, it also wisely cut its stake in Citigroup Inc (NYSE:C) by 32% during the fourth quarter to 238,506 shares valued at $12.91 million. Citigroup Inc (NYSE:C) dipped by 4.77% during the first quarter despite getting the good news that it had passed the Federal Reserve’s stress test, which it failed last year (the only bank to do so). The passing grade means Citigroup Inc (NYSE:C) can now return more money to shareholders. Billionaires Andreas Halvorsen and Ken Fisher also decreased their Citigroup holdings during the fourth quarter despite the consensus anticipation that Citigroup would pass the stress test this year.

Lastly, Ryman Hospitality Properties Inc (NYSE:RHP) had a very nice first quarter, gaining 16.73%. Mangrove Partners left its position unchanged from the previous quarter at 242,015 shares valued at $12.76 million. Ryman Hospitality Properties Inc (NYSE:RHP), a real estate investment trust (REIT) operates a number of themed resorts in the United States, in addition to entertainment brands like the Grand Ole Opry. Of recent note, Ryman Hospitality Properties Inc (NYSE:RHP)’s chairman and CEO Colin Reed has purchased just over $1 million of his company’s stock in the past month, which is often a good indicator that those with the inside track feel the stock is undervalued or poised to increase. Mario Gabelli’s mutual fund GAMCO Investors will be hoping that is the case, as the largest Ryman shareholder in our database.

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