In a new filing with the U.S. Securities and Exchange Commission, David Keidan’s Buckingham Capital Management disclosed increasing its stake in UCP Inc (NYSE:UCP). According to the filing, Buckingham Capital acquired 80,000 shares of UCP Inc (NYSE:UCP) at $7.22 per share for an aggregate price of $577,600, bringing its ownership up to 1.03 million shares, a greater than 15% stake in the homebuilder and land developer, which has a market cap of $57.35 million.
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Buckingham Capital Management was founded by David B. Keidan in 1985. The fund’s investment strategies include a long/short multi-sector strategy focused on domestic equities, and a long/short consumer-focused strategy with an emphasis on Retail, Apparel and Footwear. In its latest 13F, Buckingham Capital Management revealed a public equity portfolio valued at $1.15 billion. Buckingham Capital Management’s portfolio mainly consists of consumer stocks, representing over 50% of its total portfolio. We’ve picked the top three holdings, in terms of value, from Buckingham Capital Management’s portfolio, which are G-III Apparel Group Ltd. (NASDAQ:GIII), SUPERVALU INC. (NYSE:SVU), and Foot Locker Inc. (NYSE:FL), which will be discussed below.
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Before moving on to Buckingham Capital Management’s top holdings, we’ll first take a look at UCP Inc (NYSE:UCP), a California-based company engaged in the design and development of sustainable single-family homes. UCP Inc (NYSE:UCP) showed good performance during the first quarter, with its net loss decreasing to $1.8 million, versus a loss of $2.5 million in the same quarter last year. The company’s consolidated revenue jumped to $43.5 million, a 69.9% increase year-over-year. On the other hand, UCP Inc (NYSE:UCP)’s stock performance has not been remarkable, with the company’s shares declining 28.31% year-to-date (YTD). Another investor bullish on UCP Inc (NYSE:UCP) is Kelly Cardwell’s Central Square Management, which revealed in a filing with the SEC on June 12 that it also upped its position in UCP Inc (NYSE:UCP), to 409,139 Class A shares from 254,118 shares held by the fund as of March 31.