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Yahoo
23-04-2025
- Business
- Yahoo
Should You Consider Adding JELD-WEN (JELD) to Your Portfolio?
Miller Value Partners, an investment management company, released its 'Deep Value Strategy' first-quarter 2025 investor letter. A copy of the letter can be downloaded here. The year 2025 has been unpredictable. After setting new highs in mid-February, the market saw a double-digit decline towards the end of the quarter, capping off a strong start to the year. As the administration implemented global tariffs, sentiment swiftly deteriorated due to growing economic uncertainty. In the quarter, the Deep Value Select strategy had a -12.8% drawdown compared to -.2% return for the S&P 1500 Value Index and -9.9% return for the S&P 600 Value Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Miller Value Deep Value Strategy highlighted stocks such as JELD-WEN Holding, Inc. (NYSE:JELD). JELD-WEN Holding, Inc. (NYSE:JELD) engages in the design, manufacture, and sale of wood, metal, and composite materials doors, windows, and related building products. The one-month return of JELD-WEN Holding, Inc. (NYSE:JELD) was -15.55%, and its shares lost 72.55% of their value over the last 52 weeks. On April 22, 2025, JELD-WEN Holding, Inc. (NYSE:JELD) stock closed at $5.16 per share with a market capitalization of $440.486 million. Miller Value Deep Value Strategy stated the following regarding JELD-WEN Holding, Inc. (NYSE:JELD) in its Q1 2025 investor letter: "During the quarter, we made a new investment in an attractively priced building supplier. JELD-WEN Holding, Inc. (NYSE:JELD) is a leading North American. and European manufacturer and distributor of interior and exterior doors and windows to new construction and remodeling sectors. JELD-WEN share price has been under significant pressure, 73% below its 52-week high as the company has experienced revenue and profit weakness. The company is undertaking a multi-year transformation bringing in automation and system enhancements to enhance their manufacturing and warehouse footprint. Since 2023, new senior management has removed $350M from their cost structure and management expects $100M/year in further productivity savings. As they rationalize their infrastructure over the next five years there is significant capital efficiency improvement potential. In addition, like our investments in Quad Graphics (QUAD) and United Natural Foods (UNFI), JELD-WEN owns real estate, which provides significant margin of safety for the transformation plan. While the company expects margins and profits at historical trough levels in the early part of 2025, a new cost reduction program should support margin and profit improvement later in the year. Near-term risk is a weaker housing and remodeling marketplace, causing greater near-term revenue weakness and a slower recovery in company margins. Long-term positive supply and demand dynamics (favorable demographics and limited supply) should shorten the current downturn. In addition, there was a recent market transaction that bolsters our view JELD-WEN's significant embedded value proposition. Owens Corning acquired Masonite International (interior/exterior doors) in May 2024 at 8.6x EV/EBITDA. JELD WEN should be a beneficiary of any housing recovery with 25-30% incremental margins on a future volume improvement. Long-term upside potential from their transformation plan supports the goal of achieving double digit normalized EBITDA margins and could realistically support a share price multiples the current price level." A closeup of a residential wooden door, showcasing its elegant craftsmanship. JELD-WEN Holding, Inc. (NYSE:JELD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. Our database shows that 18 hedge fund portfolios held JELD-WEN Holding, Inc. (NYSE:JELD) at the end of the fourth quarter, compared to 13 in the third quarter. While we acknowledge the potential of JELD-WEN Holding, Inc. (NYSE:JELD) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered JELD-WEN Holding, Inc. (NYSE:JELD) and shared the list of worst-performing construction stocks. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
23-04-2025
- Business
- Yahoo
Is Nabors Industries (NBR) Trading at an Attractive Price?
Miller Value Partners, an investment management company, released its 'Deep Value Strategy' first-quarter 2025 investor letter. A copy of the letter can be downloaded here. The year 2025 has been unpredictable. After setting new highs in mid-February, the market saw a double-digit decline towards the end of the quarter, capping off a strong start to the year. As the administration implemented global tariffs, sentiment swiftly deteriorated due to growing economic uncertainty. In the quarter, the Deep Value Select strategy had a -12.8% drawdown compared to -.2% return for the S&P 1500 Value Index and -9.9% return for the S&P 600 Value Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Miller Value Deep Value Strategy highlighted stocks such as Nabors Industries Ltd. (NYSE:NBR). Nabors Industries Ltd. (NYSE:NBR) is a drilling and drilling-related services provider for offshore oil and natural gas wells. The one-month return of Nabors Industries Ltd. (NYSE:NBR) was -35.93%, and its shares lost 64.60% of their value over the last 52 weeks. On April 22, 2025, Nabors Industries Ltd. (NYSE:NBR) stock closed at $28.37 per share with a market capitalization of $408.633 million. Miller Value Deep Value Strategy stated the following regarding Nabors Industries Ltd. (NYSE:NBR) in its Q1 2025 investor letter: "Our two largest detractors during the quarter were Gannett (GCI) and Nabors Industries Ltd. (NYSE:NBR), with shares down 43% and 26%, respectively, during the quarter. Both companies' share prices are at deep discounts to our view of their long-term fundamental value, and we have recently increased position sizes in both holdings. A drilling rig on a large oil field, capturing a crucial moment of the extraction process. Nabors Industries Ltd. (NYSE:NBR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. Our database shows that 19 hedge fund portfolios held Nabors Industries Ltd. (NYSE:NBR) at the end of the fourth quarter, compared to 16 in the third quarter. While we acknowledge the potential of Nabors Industries Ltd. (NYSE:NBR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered Nabors Industries Ltd. (NYSE:NBR) and shared Miller Deep Value Select Strategy's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
Here's Why Gannett (GCI) Slid in Q1
Miller Value Partners, an investment management company, released its 'Deep Value Strategy' first-quarter 2025 investor letter. A copy of the letter can be downloaded here. The year 2025 has been unpredictable. After setting new highs in mid-February, the market saw a double-digit decline towards the end of the quarter, capping off a strong start to the year. As the administration implemented global tariffs, sentiment swiftly deteriorated due to growing economic uncertainty. In the quarter, the Deep Value Select strategy had a -12.8% drawdown compared to -.2% return for the S&P 1500 Value Index and -9.9% return for the S&P 600 Value Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Miller Value Deep Value Strategy highlighted stocks such as Gannett Co., Inc. (NYSE:GCI). Gannett Co., Inc. (NYSE:GCI) is a US-based media and marketing solutions company. The one-month return of Gannett Co., Inc. (NYSE:GCI) was 12.30%, and its shares gained 29.00% of their value over the last 52 weeks. On April 22, 2025, Gannett Co., Inc. (NYSE:GCI) stock closed at $3.47 per share with a market capitalization of $508.133 million. Miller Value Deep Value Strategy stated the following regarding Gannett Co., Inc. (NYSE:GCI) in its Q1 2025 investor letter: "Our two largest detractors during the quarter were Gannett Co., Inc. (NYSE:GCI) and Nabors Industries (NBR), with shares down 43% and 26%, respectively, during the quarter. Both companies' share prices are at deep discounts to our view of their long-term fundamental value, and we have recently increased position sizes in both holdings. An editor standing in a newsroom, overseeing the layout of a magazine cover. Gannett Co., Inc. (NYSE:GCI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. Our database shows that 34 hedge fund portfolios held Gannett Co., Inc. (NYSE:GCI) at the end of the fourth quarter, compared to 28 in the third quarter. While we acknowledge the potential of Gannett Co., Inc. (NYSE:GCI) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered Gannett Co., Inc. (NYSE:GCI) and shared the list of best news and digital media stocks to buy. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
Gray Media (GTN) Rose 37% in Q1
Miller Value Partners, an investment management company, released its 'Deep Value Strategy' first-quarter 2025 investor letter. A copy of the letter can be downloaded here. The year 2025 has been unpredictable. After setting new highs in mid-February, the market saw a double-digit decline towards the end of the quarter, capping off a strong start to the year. As the administration implemented global tariffs, sentiment swiftly deteriorated due to growing economic uncertainty. In the quarter, the Deep Value Select strategy had a -12.8% drawdown compared to -.2% return for the S&P 1500 Value Index and -9.9% return for the S&P 600 Value Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Miller Value Deep Value Strategy highlighted stocks such as Gray Television, Inc. (NYSE:GTN). Gray Television, Inc. (NYSE:GTN) is a television broadcasting company that operates television stations and digital assets. The one-month return of Gray Television, Inc. (NYSE:GTN) was -30.49%, and its shares lost 45.85% of their value over the last 52 weeks. On April 22, 2025, Gray Media, Inc. (NYSE:GTN) stock closed at $3.26 per share with a market capitalization of $367.865 million. Miller Value Deep Value Strategy stated the following regarding Gray Media, Inc. (NYSE:GTN) in its Q1 2025 investor letter: "During the quarter, the strategy's largest positive contributor was Gray Media, Inc. (NYSE:GTN), with shares up +37%. Gray significantly lagged the strategy during the back half of 2024. While the company's political advertising led the overall market, it fell below market expectations. Gray continues to generate strong free cash flow and successfully paid down more than $500M of debt during the past year. While the company has significant debt leverage, Gray has a much smaller amount of debt maturities over the next two years. Marketplace expectations for Gray's future retransmission revenues remain very low providing a nice ongoing variant as management focuses on improving long-term retransmission agreements. Near-term risks include an advertising recession; auto advertising may be weaker over the coming months; however local advertising has so far remained resilient. Gray has the potential to deliver strong free cashflow next year and $2B+ over the coming 5 to 6 years. Ongoing debt reduction should accrue to the equity over time. We see long-term upside potential multiples of the current share price." A satellite dish with a view to the night sky, preparing to receive transmissions. Gray Media, Inc. (NYSE:GTN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. Our database shows that 26 hedge fund portfolios held Gray Media, Inc. (NYSE:GTN) at the end of the fourth quarter, compared to 24 in the third quarter. Gray Television, Inc.'s (NYSE:GTN) Q4 2024 revenue increased 21% year-over-year to $1 billion. While we acknowledge the potential of Gray Media, Inc. (NYSE:GTN) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered Gray Media, Inc. (NYSE:GTN) and shared the list of best dividend penny stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
