NEW YORK (Stockpickr) -- At Stockpickr, we track the top holdings of a variety of high-profile investors, such as Warren Buffett and Carl Icahn.
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One of our most popular professional portfolios is that of David Einhorn's Greenlight Capital. As we look forward to 2015, we thought we'd single out some of Greenlight's recent top buys.
What follows is a closer look at 10 stocks that Einhorn bought in the most recently reported quarter ended Sept. 30. Each of these stocks comprises at least 1% of the Greenlight Capital portfolio and saw a position increase of at least 30%. Many of them were brand new purchases for the fund. They are ordered here by increasing position size.
10. Nokia (NOK) comprises 1% of Greenlight Capital's portfolio as of the most recently reported quarter. The 7.8 million-share position was a new buy in the quarter.
TheStreet Ratings team rates Nokia as a buy with a ratings score of B-. TheStreet Ratings team has this to say about its recommendation:
"We rate Nokia (NOK) a buy. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- Nokia reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, Nokia turned its bottom line around by earning $0.06 versus -$1.11 in the prior year. This year, the market expects an improvement in earnings ($0.35 versus $0.06).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Communications Equipment industry. The net income increased by 569.1% when compared to the same quarter one year prior, rising from -$149.37 million to $700.76 million.
- Net operating cash flow has significantly increased by 3320.28% to $434.62 million when compared to the same quarter last year. In addition, Nokia has also vastly surpassed the industry average cash flow growth rate of -32.12%.
- 46.97% is the gross profit margin for NOKIA CORP which we consider to be strong. Regardless of NOK's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 19.23% trails the industry average.
- NOK, with its decline in revenue, underperformed when compared the industry average of 5.6%. Since the same quarter one year prior, revenues fell by 17.6%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
You can view the full analysis from the report here: NOK Ratings Report
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9. NorthStar Asset Magnagement Group (NSAM) comprises 1.2% of Greenlight Capital's portfolio as of the most recently reported quarter. The 4.5 million-share position was a new buy in the quarter.
TheStreet Ratings team does not currently maintain full coverage of NSAM.
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