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FrontFour Capital Group Returns, AUM, and Holdings (Part II)

Read the beginning of this article here.

At the end of Q4 2018 FrontFour Capital Group’s number one holding was Marriott Vacations Worldwide Corp (NYSE:VAC) a renowned brand in the vacation industry, that runs more than 100 resorts worldwide and manages more than 180 other resorts and lodging properties. The fund held a stake of 289,574 shares valued at $20.41 million, amassing 17.93% of its equity portfolio. Marriott Vacations Worldwide has a market cap of $4.37 billion and it is trading at a price to earnings ratio of 89.40. Year-to-date, the company’s stock is up 39.37%, and on May 15th it had a closing price of $97.53. For the first quarter of 2019, Marriott Vacations Worldwide Corp reported net income attributable to common shareholders of $24 million, or $0.52 per fully diluted share, which compares to net income attributable to common shareholders of $36 million, or $1.32 per fully diluted share in the same quarter of 2018.

Another valuable position in the fund’s 13F portfolio was in Obsidian Energy Ltd. (NYSE:OBE), a Canadian oil and natural gas producer with a market cap of $146.45 million. Over the past 12 months, the company’s stock lost 75.42%, closing on May 15th with a share price of $0.29. At the end of 2018, FrontFour Capital Group held 27.86 Obsidian Energy’s shares, which were valued at $11.23 million.

The only new addition to FrontFour Capital Group’s equity portfolio during Q4 2018 was Sensient Technologies Corporation (NYSE:SXT), in which the fund obtained a position that was valued around $55,000, on the account of 979 shares outstanding. Sensient Technologies Corporation is a Milwaukee based manufacturer of fragrances, colors, and flavors, with a market cap of $2.98 million. The stock is trading at a price-to-earnings ratio of 19.62. Year-to-date, its share price gained 25.78%, and on May 15th it had a closing price of $70.44.

During the last quarter of 2018, FrontFour Capital Group showed an increase of enthusiasm in some of its positions. For instance, it boosted its stake in Mdc Partners (NASDAQ:MDCA) by 32% to 3.01 million shares valued at $7.85 million. This is an NYC-based marketing and advertising holding company with a market cap of $225.05 million. Over the last six months, the company’s stock gained 23.72%, closing at $3.13 on May 15th. Furthermore, an increase of 32% was given to its stake in Medley Capital Corp. (NYSE:MCC) after which it counted 2.06 million shares worth $5.33 million. Medley Capital Corp is a closed-end business development company with a market cap of $166.15 million. YTD, the company’s stock gained 16.41% and on May 15th it had a closing price of $3.05.

Disclosure: None

This article was originally published at Insider Monkey.

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