We are in a very active period for institutional investors, because it has been several weeks since the end of March, and investors are required to file their Q1 13Fs with the Securities and Exchange Commission (SEC) within a 45-day period. These filings are important because by analyzing them, one can see the most recent moves made by a fund manager, the latest acquisitions, or sales of stakes. Let’s take a look at the New York-based AH Lisanti Capital Growth, LLC. Highlights from the story include: Capital Senior Living Corporation (NYSE:CSU), Acadia Healthcare Company Inc (NASDAQ:ACHC), and Cornerstone OnDemand, Inc. (NASDAQ:CSOD).
Why is this important?
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Numerouno
AH Lisanti decreased its stake in Capital Senior Living Corporation (NYSE:CSU) to 202,480 shares, from 208,245 mentioned in the previous 13F. At the same time, the value of the holding grew to $5.3 million, from almost $3.9 million. Trading at a forward P/E of around 42, Capital Senior Living Corporation (NYSE:CSU) posted a diluted net loss per share of $0.06 for the end of the last quarter, and $0.11 for the entirety of 2012. Shares of Capital Senior Living Corporation (NYSE:CSU) have a year-to-date return of 40.77%.
The fund has moved its position in Acadia Healthcare Company Inc (NASDAQ:ACHC) up to the second most valuable equity share in its 13F portfolio. AH Lisanti purchased an additional 87,960 shares, advancing the position to 170,440 shares. The value of the stake has also gone up to $5.0 million, from $1.9 million. For the first quarter of 2013, Acadia Healthcare Company Inc (NASDAQ:ACHC) posted an adjusted income from continuing operations per diluted share of $0.21, which is 75.5% higher than a year ago. At the same time, Acadia Healthcare Company Inc (NASDAQ:ACHC) said that it has raised the direction for 2013 adjusted EPS to $1.00-1.03 per diluted share, from $0.96 to $1.00.
The best of the rest
Cornerstone OnDemand, Inc. (NASDAQ:CSOD) is the next top holding in the equity portfolio of AH Lisanti. The fund was bullish on the company, raising the stake to 131,160 shares, from 116,520 in the previous 13F filing with the SEC. The value of the holding now amounts to $4.5 million, up from $3.4 million at the end of 2012. In a statement, Cornerstone OnDemand, Inc. (NASDAQ:CSOD) said that its revenue for the first quarter advanced by an annual 57% to $37.7 million, and the gross profit went up by 54% on the year to $26.4 million. The year-to-date return of Cornerstone OnDemand, Inc. (NASDAQ:CSOD)’s stock is more than 29%.
The stake of Lumber Liquidators Holdings Inc (NYSE:LL) in AH Lisanti’s equity portfolio also increased. According to the latest 13 Filing, the fund holds 63,510 shares in the company, the value of the stake being $4.5 million, which is up from 42,155 shares worth $2.2 million. The retailer of hardwood flooring and accessories, Lumber Liquidators Holdings Inc (NYSE:LL), is trading at a forward P/E of 28.68 and the year-to-date return of the stock amounts to more than 57%. The net income of Lumber Liquidators Holdings Inc (NYSE:LL) increased by 92.5% on the year to $15.8 million ($0.57 per diluted share). Over the entirety of 2013, the company expects EPS between $2.01 and $2.35 per diluted share, higher than the previous forecasts of $1.90-2.15 per diluted share.
Last but certainly not least
Last on our list is Portfolio Recovery Associates, Inc. (NASDAQ:PRAA). AH Lisanti reported owning 34,980 shares of Portfolio Recovery, up from 32,880 shares in the previous 13F. The value of the Portfolio Recovery Associates, Inc. (NASDAQ:PRAA) holding in AH Lisanti’s equity portfolio is now about $4.4 million, up from $3.5 million disclosed at the end of last year. In a statement, Portfolio Recovery Associates, Inc. (NASDAQ:PRAA) revealed that its first quarter revenue appreciated by 21% on the year to $169.6 million, and that diluted EPS also increased to $2.26, compared to $1.47 in the first quarter of the previous year.
Final thoughts
In its most recent 13F, AH Lisanti Capital Growth disclosed 108 equity holdings, which represents an increase of eight from the previous quarter. This reveals the confident approach of AH Lisanti and a diversified 13F portfolio, which comprises companies from many different industries; the fund is a great candidate for ardent investors to track. Compare this equity portfolio with those of other hedge funds, and also check out our market-beating strategy for more information. We reveal the details of this strategy in our premium section, and you can also download the free edition of our newsletter here.
Disclosure: none
