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Apex Capital’s Standing By Netflix, Inc (NFLX), Other Top Picks

Apex Capital added a new position to its portfolio in the form of Yelp Inc (NYSE:YELP) during the first quarter. In the second quarter, the fund increased its holding by another 27% to 1.36 million shares with a value of $58.36 million. This formed 5.06% of the fund’s total portfolio holdings and vaulted Yelp into the second spot in the fund’s portfolio. The company connects people with great local businesses by bringing “word of mouth” online and providing a platform for businesses and consumers to engage and transact. Yelp’s platform is transforming the way people discover local businesses; every day, millions of consumers visit its website or use its mobile app to find local businesses to meet their everyday needs. Recently, the $2.52 billion market cap company reported its second quarter financial results, with its earning missing the consensus estimate by 22.5%. It earned $0.12 per share during the quarter, compared to the consensus earnings estimate of $0.16. The news sent the share price down by 0.65% to $33.51. However, CEO Jeremy Stoppelman highlighted the growth in net revenues of 51% year-over-year and his plans to further spur the growth via international expansion of the company. Ken Fisher‘s Fisher Asset Management holds a position in Yelp Inc (NYSE:YELP) of 106,900 shares as of June 30, a new one for the firm.

Apex Capital held 1.27 million shares of Michael Kors Holdings Ltd (NYSE:KORS) as of June 30, with a value of $53.61 million, the holding having been increased by 26% in the second trimester. This formed 4.65% of the fund’s total portfolio holdings and kept the stock in the third position in Apex Capital’s portfolio. The global luxury lifestyle brand company operates its business in three segments, namely Retail, Wholesale, and Licensing. It has a global distribution network of company-operated retail stores, department stores, specialty stores, and select licensing partners. In its fiscal fourth quarter financial report for the period ending March 28, Michael Kors failed to meet investor expectations on the earnings front. This was primarily due to a decrease in comparable-store sales by a substantial 5.8%. However, earnings were up by 33.19% over the last year due to the company’s expanding network of stores. The company has a price-to-earnings ratio of 9.91 versus the Consumer Goods sector’s average of 14.02. According to analysts, the shares of Michael Kors are now undervalued, courtesy of the drubbing they have received on the market in 2015, down by 47.51%. Ricky Sandler‘s Eminence Capital holds one of the largest shareholder positions in Michael Kors Holdings Ltd (NYSE:KORS), owning 4.54 million shares as of June 30 after obtaining 3.20 million shares during the second quarter.

Disclosure: None

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