Priceline, Alphabet, Hanes: Concourse Capital Was Loading Up On These 5 Stocks in Q2

#3. Constellium NV (NYSE:CSTM)

 – Shares Owned by Concourse Capital Management (as of June 30): 794,203

 – Value of Holding (as of June 30): $3.72 Million

Moving on, Concourse Capital Management made a nearly six-fold increase to its stake in Constellium NV (NYSE:CSTM) during the second quarter. The Netherlands-based aluminum products and solutions company has lost over 80% of its market capitalization since mid-2014 and over one-third of its market cap so far this year. Constellium NV (NYSE:CSTM) reported its second quarter financial figures on August 2, which included EPS of $0.09 on revenue of $1.37 billion. For the same quarter of the previous year, the company had reported a loss of $0.75 per share on revenue of $1.52 billion. The erstwhile CEO of Constellium NV, Pierre Vareille, retired last month, but the company hasn’t named anyone as his successor as of yet. On August 3, analysts at JPMorgan Chase & Co. reiterated their ‘Buy’ rating and $13 price target on the stock, which represents potential upside of 150%.

#2. Alphabet Inc (NASDAQ:GOOGL)

 – Shares Owned by Concourse Capital Management (as of June 30): 8,956 Class A

 – Value of Holding (as of June 30): $6.3 Million

Amid a 7.8% drop in Alphabet Inc (NASDAQ:GOOGL)’s stock during the second quarter, Concourse Capital Management upped its stake in the company’s Class A shares by 20%. Shares of the online search giant experienced a remarkable rally last month, first in anticipation of the company’s second quarter earnings and then following those earnings, on back of the record numbers that the company posted for the quarter. Owing to last month’s rally, the stock has recouped almost all of its losses suffered earlier in the year and is now trading very close to its lifetime high of $810.35. However, analysts believe that the stock could go much higher from here due to the company’s investments in cloud and video, and the rapid progress being made by its various moonshot projects. According to a recent report by Bloomberg, Alphabet Inc (NASDAQ:GOOGL) is planning to sell 10-year notes at a debt yield that is said to be approximately 0.68 percentage points over Treasuries in order to pay off some of its short-term debt. Billionaire Ken Fisher‘s Fisher Asset Management reduced its stake in the company during the second quarter, by 5% to 455,315 Class A shares.

#1. Priceline Group Inc (NASDAQ:PCLN)

 – Shares Owned by Concourse Capital Management (as of June 30): 5,115

 – Value of Holding (as of June 30): $6.38 Million

Concourse Capital Management increased its stake in Priceline Group Inc (NASDAQ:PCLN) by 45% during the second quarter, leading to the holding jumping nine spots to become the fund’s ninth-largest at the end of June. Priceline’s stock has been trading in a range for more than two years now and is currently up by nearly 5% in 2016. On June 30, Morgan Stanley analyst Brian Nowak released a note in which he upgraded Priceline’s stock to ‘Overweight’ from ‘Equal-Weight’ and also raised his price target on it to $1,525 from $1,320, citing the company’s “increasing profitability and the opportunity to make inroads in the alternative accommodations market.” Currently, Priceline’s stock sports an average rating of ‘Overweight’ and an average price target of $1,472 from the 29 leading analysts on Wall Street who track it. Christopher R. Hansen‘s Valiant Capital raised its stake in Priceline Group Inc (NASDAQ:PCLN) by 39% during the second quarter, to 54,542 shares.

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