As billionaire-wanna-bees, we may often envy top Guru
investors, but we really can't imagine their headaches or
nightmares, and not one of us can claim "subpoenas envy" when we
look at the embattled SAC Capital Advisors this week. As
's company SAC Capital Advisors pays the biggest insider trading
fine in history, approximately $616 million, Guru Cohen added
371.07% to his position of Stage Stores, Inc.
shares, listing current shares at 1,762,256, as of March 26,
2013. The current price is $25.88, with a change from average
SAC Capital neither admitted nor denied wrongdoing in the SEC
lawsuit, with investigations starting back in 2010, according to
Read more about the SAC Capital settlement.
Guru Cohen is one of the most successful traders in the world,
and as far as investments go, he has been increasing his clothing
retailer positions in the last year, an interesting fact since a
number of competing retailers like J.C. Penney, Sears, Kmart and
others are forecast to close hundreds of stores this year.
Further, the popular clothing retailer, Express Inc. is crawling
this current quarter as consumers cling to their money. According
to Reuters, Express Inc.'s CEO Michael Weiss told analysts
earlier this month, "Consumers appeared cautious due to the
macroeconomic environment and uncertainty around budget cuts, and
also the impact of higher payroll taxes." A report from the
National Retail Federation also confirms slowing growth in the
sector, showing that retail industry sales are projected to grow
only 3.4% in 2013, less than the preliminary 4.2% in 2012.
After significantly bumping up his Ann Taylor
position in early March, Cohen is now boosting the Texas-based
Stage Stores, Inc. (
), an operator of 813 department stores in 40 states. Stage
Stores, Inc. includes Bealls, Goody's, Palais Royal, Peebles and
Stage. The company has a market cap of $825.79 million. Its P/E
ratio is 21.6, and the P/S is 0.5079. Current share price for SSI
is $25.89, up 4% year to date.
His SSI holding history:
Here's a look at Cohen's holdings in Ann Taylor Stores (
), the "aspirational luxury brand" for working women.
Steven "Stevie" Cohen has a reputation for being a highly
intuitive hedge fund investor. As of March 27, 2012, SAC
Capital's portfolio shows 1585 stocks, with 429 new stocks, at a
total value of $20.3 billion. SAC Capital's quarter over quarter
turnover is 42%.
Cohen's top buys, sells and holdings:
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