FPA Crescent Fund Cuts Jeffries Financial, Alphabet

GuruFocus.com
·5 min read

- By Tiziano Frateschi

Steven Romick (Trades, Portfolio)'s FPA Crescent Fund sold shares of the following stocks during the first quarter of 2021, which ended on March 31.


Jefferies Financial Group

The Jefferies Financial Group Inc. (JEF) position was trimmed by 48.68%, impacting the portfolio by -1.85%.

FPA Crescent Fund Cuts Jeffries Financial, Alphabet
FPA Crescent Fund Cuts Jeffries Financial, Alphabet

The financial services company has a market cap of $7.81 billion and an enterprise value of $9.03 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 12.87% and return on assets of 2.36% are outperforming 93% of companies in the diversified financial services industry. Its financial strength is rated 5 out of 10 with a cash-debt ratio of 0.89.


The largest guru shareholder of the company is the First Pacific Advisors (Trades, Portfolio) with 5.62% of outstanding shares, followed by BAILLIE GIFFORD & CO with 4.87% and Barrow, Hanley, Mewhinney & Strauss with 1.80%.

Porsche Automobil

The fund exited its position in Porsche Automobil Holding SE (XTER:PAH3), impacting the portfolio by -1.44%.

FPA Crescent Fund Cuts Jeffries Financial, Alphabet
FPA Crescent Fund Cuts Jeffries Financial, Alphabet

Signature Bank

The fund reduced its position in Signature Bank (SBNY) by 71.2%, impacting the portfolio by -1.08%.

FPA Crescent Fund Cuts Jeffries Financial, Alphabet
FPA Crescent Fund Cuts Jeffries Financial, Alphabet

The commercial bank has a market cap of $13.88 billion and an enterprise value of $5.47 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 10.49% and return on assets of 0.88% are outperforming 57% of companies in the banks industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 3.14 is below the industry median of 1.74.

The largest guru shareholders of the company include First Pacific Advisors (Trades, Portfolio) with 1.75% of outstanding shares, Chuck Royce (Trades, Portfolio) with 0.41% and Steven Cohen (Trades, Portfolio) with 0.41%.

Baidu

The firm trimmed its position in Baidu Inc. (BIDU) by 47.54%. The trade had an impact of -0.96% on the portfolio.

FPA Crescent Fund Cuts Jeffries Financial, Alphabet
FPA Crescent Fund Cuts Jeffries Financial, Alphabet

The Chinese Internet search engine has a market cap of $72.01 billion and an enterprise value of $60.77 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 13.39% and return on assets of 7.34% are outperforming 67% of companies in the interactive media industry. Its financial strength is rated 6 out of 10 with a cash-debt ratio of 1.96.

The largest guru shareholders of the company are PRIMECAP Management (Trades, Portfolio) with 2.79% of outstanding shares, Jim Simons (Trades, Portfolio)' Renaissance Technologies firm with 2.52%, BAILLIE GIFFORD & CO with 1.16% and Dodge & Cox with 1.10%.

Dell Technologies

The firm curbed its Dell Technologies Inc. (DELL) stake by 43.28%. The portfolio was impacted by -0.90%.

FPA Crescent Fund Cuts Jeffries Financial, Alphabet
FPA Crescent Fund Cuts Jeffries Financial, Alphabet

The company has a market cap of $76.64 billion and an enterprise value of $117.72 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity of 667.63% and return on assets of 2.7% are outperforming 50% of companies in the hardware industry. Its financial strength is rated 5 out of 10 with a cash-debt ratio of 1.69.


The largest guru shareholder of the company is Dodge & Cox with 4.98% of outstanding shares, followed by Cohen with 0.36% and First Pacific Advisors (Trades, Portfolio) with 0.29%.

Alphabet

The firm reduced its Alphabet Inc. (GOOGL) stake by 18.95%. The portfolio was impacted by -0.70%.

FPA Crescent Fund Cuts Jeffries Financial, Alphabet
FPA Crescent Fund Cuts Jeffries Financial, Alphabet

The Internet media giant has a market cap of $1.21 trillion and an enterprise value of $1.41 trillion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 19.21% and return on assets of 13.92% are outperforming 76% of companies in the interactive media industry. Its financial strength is rated 8 out of 10 with a cash-debt ratio of 5.11.


The largest guru shareholder of the company is Ken Fisher (Trades, Portfolio) with 0.25% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 0.21% and Andreas Halvorsen (Trades, Portfolio) with 0.09%.

American International Group

The firm trimmed its American International Group Inc. (AIG) stake by 14.88%. The portfolio was impacted by -0.59%.

FPA Crescent Fund Cuts Jeffries Financial, Alphabet
FPA Crescent Fund Cuts Jeffries Financial, Alphabet

The insurance and financial services firm has a market cap of $40.06 billion and an enterprise value of $76.09 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of -9.38% and return on assets of -1.07% are underperforming 97% of companies in the insurance industry. Its financial strength is rated 2 out of 10 with a cash-debt ratio of 0.08.


The largest guru shareholder of the company is HOTCHKIS & WILEY with 3.86% of outstanding shares, followed by Diamond Hill Capital (Trades, Portfolio) with 2.26% and Richard Pzena (Trades, Portfolio) with 2.03%.

Disclosure: I do not own any stocks mentioned.

Read more here:

  • 5 Cheap Stocks Paying High Dividend Yields

  • 5 Predictable Stocks With a Margin of Safety

  • 5 Health Care Stocks Trading with Low Price-Earnings Ratios



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This article first appeared on GuruFocus.

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