Sold Sprouts Family Market

I took my profits in Sprouts Family Market, Inc. (Ticker: SFM) today at $43.56 generating a net gain of 142%. I received an IPO allocation in Sprouts Family Market at the price of $18 per share on 8/1/13. I believe in this concept, but I don’t like the current valuation. It’ll probably continue to head higher based on the momentum, but I’m out. It’s estimated to grow earnings around + 20%, but it’s currently trading at over 60 times 2015 estimated earnings. This holding made up less than 1% of my portfolio so it’s a nice gain, but the overall impact is actually small.

Sold The Jones Group

I decided to take my profits in The Jones Group, Inc. (Ticker: JNY) today by selling at $15.99 and generating a net gain of 1.30% over a 3 day period. I think the more likely scenario is that this company goes in pieces rather than a sale of the entire company. Right now, I’ll take the small gains and play it safe.

Onyx Just About Done

Today, Amgen (Ticker: AMGN) received antitrust approval for its acquisition of Onyx Pharmaceuticals, Inc (Ticker: ONXX). The tender offer expires on October 1^st and this deal will close after the expiration of the tender offer. I’ve been selling the October 120 Puts and pocketing a decent premium. I’m surprised the spread remained this wide, but I guess some people were concerned about a potential delay in gaining the antitrust approval. I’ve already tendered my Onyx shares so in about two weeks I expect the cash to hit my account.

Picked Up The Jones Group

I picked up a few shares in The Jones Group, Inc. (Ticker: JNY) today at $15.77. This apparel / retail company is evaluating strategic initiatives, which may involve in the sale of part or whole company. You have financial and strategic buyers evaluating the company. This company has some strong brands names such as Anne Klein and some not so strong brands. I like the risk reward at the current price as this company is trading at a cheap valuation. Management is under pressure to do something to maximize the stock price and I believe they are on the right track with a sale of the company. Final bids are due soon so we should be hearing something shortly.

OCI Resources LP IPO

I went after the OCI Resources LP (Ticker: OCIR) IPO and received an allocation. The stock priced at $19 and promptly dropped to ~ $18 when it started trading. I was expecting a small pop, but you can’t always win them all in the IPO game. This company is involved in the mining of natural tona, which is used to produce soda ash. As I just learned that soda ash is used to make glass bottles and other consumer products. In any case this limited partnership pays out an annual dividend payout of $2.00 / annually per share ($0.50 per quarter). If the price stays down here, I may start accumulating a decent position.

Sold Vodafone Group

I sold my position in Vodafone Group PLC (Ticker: VOD) at $31.74 generating a whopping 0.11% gain over a 6 day period. Obviously, the market did not like the huge chunk of Verizon stock that’s going to be distributed to the Vodafone shareholders. In any case, it didn’t quite work out the way I expected so I’m out for now…

Sold Cooper Tire and Rubber Again

I took some quick profits in Cooper Tire and Rubber (Ticker: CTB) today at $31.94 generating a net gain of 1.02% over a 5 day period. This was one of the more risky merger arb plays and right now I just want to reduce my leverage a bit.