Published On: Mon, Aug 11th, 2014

3 Stock Picks from Mario Gabelli and George Soros

dice on fire

Last week, high-profile hedge fund managers Mario Gabelli and George Soros made substantial adjustments in their portfolios. Gabelli bought 1, 152, 512 shares of BioScrip, which provides pharmacy and home healthcare services. Gabelli increased his position in the stock by 79.99% and bought shares at $7.44. Since then, the stock has risen 8%, and currently, Gabelli owns a 3.79% stake in the company. BioScrip has seen its revenue in decline and has a high number of its shares sold short. Net loss per share exceeded last year’s loss, but revenues were up 43%.

Gabelli also increased his holding in Myers, which makes polymer products for agricultural and industrial use. He purchased 52, 205 shares at $19.11, and since then, shares have risen to $19.16. Gabelli currently has a 13.3% stake in the company.

George Soros cut his position in Penn Virginia, and sold 250, 000 shares at $12.42, but since this sale of shares, the stock has moved up 5%. Currently, Soros owns a 9.15% stake in the independent oil and gas company. Penn Virginia has seen revenue decline for the past 5 years, has substantial debt and its operating income is at a loss. However, its dividend is at its highest rate in the last decade, at 10.80%

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