Hedge Funds Are Buying Up UCP Inc (UCP) On Weakness, Is Now The Time To Buy?

Let’s discuss Buckingham Capital Management’s top holdings, starting with G-III Apparel Group Ltd. (NASDAQ:GIII), in which the investor decreased its ownership by 6% to 745,420 shares during the first quarter. The stake is valued at $42.0 million. G-III Apparel Group Ltd. (NASDAQ:GIII) is a manufacturer and distributor of a variety of apparel products, and has a market cap of $3.08 billion. G-III Apparel Group Ltd. (NASDAQ:GIII) reported strong financial results for the first quarter of 2015, with its net income increasing to $6.8 million, compared to $1.3 million in the same period last year. The company reported an 18% increase in net sales to $433.0 million, compared to the same quarter a year-ago. G-III Apparel Group Ltd. (NASDAQ:GIII)’s stock likewise been performing strongly, moving up by 70.68% during the past year. Another shareholder of the company is Donald Chiboucis’ Columbus Circle Investors, holding 656,569 shares as of March 31.

The second top holding in Buckingham Capital Management’s portfolio is a stake in SUPERVALU INC. (NYSE:SVU), in which the fund inched up its position to 2.69 million shares worth $31.33 million. SUPERVALU INC. (NYSE:SVU) is a grocery wholesaler and retailer in the United States with a market cap of $2.23 billion. For the fourth quarter of fiscal 2015 which ended on February 20, 2015, the company, which has annual sales of about $18 billion, reported earnings from continuing operations of $66 million, up from $42 million in the same quarter of 2014. Its sales jumped by 10.4% to $4.36 billion, versus $3.95 billion last year. Despite solid financial results, SUPERVALU INC. (NYSE:SVU)’s stock dropped by 13.19% year-to-date (YTD). Another large shareholder of the company is Barry Rosenstein’s JANA Partners, which held 12.36 million shares as of March 31.

Lastly is Foot Locker Inc. (NYSE:FL), an $8.79-billion market cap specialty athletic retailer. The company operates over 3,000 stores in 23 countries in North America, Europe, Australia, and New Zealand. During the first quarter, Buckingham Capital Management cut its position in the company by 21% to 486,835 shares, valued at $30.7 million. For its fiscal first quarter ended May 2, Foot Locker Inc. (NYSE:FL) posted net income of $184 million, or $1.29 per share, up from net income of $162 million, or $1.10 per share, in the same period last year. Sales for the quarter rose by 2.6% to $1.92 billion, compared to the same prior-year period. Shares of the company have risen by 27.79% during the past year. Another investor that sees value in Foot Locker Inc. (NYSE:FL) is Cliff Asness’ AQR Capital Management, which holds 2.16 million shares as of the end of the first quarter.

Disclosure: None