According to an amended 13D filing with the SEC, billionaire Mario Gabelli‘s GAMCO Investors has slightly decreased its stake in Superior Industries International Inc (NYSE:SUP). Together with its affiliates, GAMCO currently owns 2.5 million common shares that amass 9.83% of the company’s outstanding stock. As disclosed in its previous 13D filing on the company, in June, GAMCO Investors and its affiliates held in aggregate around 2.75 million shares, which represented 10.84% of the company’s outstanding stock.
Superior Industries International is an automotive company that produces aluminum road wheels for world renowned automobile brands. Over the past 12 months, the company’s stock has gained 50.84%. For the second quarter of 2016, Superior Industries International (NYSE:SUP) reported earnings per share of $0.52 and net income of $13.17 million, compared to earnings per share of $0.24 and net income of $6.53 million for the same quarter of the previous year. Recently, B. Riley reiterated its ‘Neutral’ rating on Superior Industries, and has a price target of $31.50 on the stock.
The number of hedge funds in our system that were bullish on Superior Industries International (NYSE:SUP) increased by five during the first quarter, pushing the total to 16 investors long the stock at the end of March. The most valuable position was held by Jim Simons’ Renaissance Technologies, worth $9.5 million, while the second-largest stake was reported by Israel Englander’s Millennium Management, valued at $6.5 million. Other smart money managers with similar bullishness included John Overdeck and David Siegel’s Two Sigma Advisors, Ken Griffin’s Citadel Investment Group, and David Costen Haley’s HBK Investments.
Among the investors taking up new positions in Superior Industries International (NYSE:SUP) during the first quarter were Peter Muller’s PDT Partners, which initiated a position worth $0.7 million, and Mike Vranos’ Ellington, which opened an investment in the company worth $0.3 million. The following funds were also among the new SUP investors: Paul Tudor Jones’ Tudor Investment Corp, Alec Litowitz and Ross Laser’s Magnetar Capital, and Matthew Hulsizer’s PEAK6 Capital Management.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Gabelli Funds | 579,800 | 579,800 | 579,800 | 2.28% | ||
| GAMCO Asset Management, Inc. I.D. No. 13-40445 | 1,252,652 | 1,384,452 | 1,384,452 | 5.45% | ||
| Teton Advisors, Inc. I.D. No. 13-4008049 | 526,300 | 526,300 | 526,300 | 2.07% | ||
| GGCP, Inc. I.D. No. 13-3056041 | 0.00% | |||||
| GAMCO Investors, Inc. I.D. No. 13-400786 | 0.00% | |||||
| Associated Capital Group, Inc. I.D. No. 47-3965991 Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | 8,000 | 8,000 | 8,000 | 0.03% | ||
| Mario J. Gabelli | 0.00% |
