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8 Stocks Joel Greenblatt Continues to Buy

- By Tiziano Frateschi

Hedge fund manager Joel Greenblatt (Trades, Portfolio), who is known for inventing Magic Formula investing and founding Gotham Asset Management, bought shares of the following stocks in both the first and second quarters of 2018.


Palatin Technologies Inc. (PTN)

In the first quarter, the guru boosted his position by 149.73% and by 84.70% in the second quarter.

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The biopharmaceutical company has a market cap of $191.13 million. Its revenue of $44 million has climbed 632.7% over the past several years.

The stock has climbed 140% over the last 12 months and is now trading with a price-earnings ratio of 6.86 and a price-book ratio of 18.46.

Jim Simons (Trades, Portfolio)' Renaissance Technologies is the largest guru shareholder of the company with 0.63% of outstanding shares, followed by Greenblatt with 0.04%.

Loral Space & Communications Inc. (LORL)

Greenblatt increased his holding by 39.87% in the first quarter and increased it 76.95% in the second quarter.

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The provider of satellite-based communications services has a market cap of $1.28 billion.

The stock has declined 4% over the last 12 months and is now trading with a price-earnings ratio of 18.40 and a price-book ratio of 4.56.

Leon Cooperman (Trades, Portfolio) is the largest guru shareholder of the company with 3.28% of outstanding shares, followed by Mario Gabelli (Trades, Portfolio) with 2.6%.

Lennar Corp. (LEN)

The investor upped his position by 43.61% in the first quarter and by 77.64% in the second quarter.

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The homebuilder has a market cap of $16.64 million. Its revenue of $12.6 million has grown 23.10% over the last five years.

The stock has risen 3% over the past 12 months and is now trading with a price-earnings ratio of 13.57 and a price-book ratio of 1.25.

Daniel Loeb (Trades, Portfolio) is the company's largest guru shareholder with 1.82% of outstanding shares, followed by Andreas Halvorsen (Trades, Portfolio) with 1.65%.

Corcept Therapeutics Inc. (CORT)

In the first quarter, the guru increased his holding by 16.14% and then boosted it 238.07% in the second quarter.

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The biotechnology company has a market cap of $1.58 billion. Its revenue of $159 million has doubled over the last five years.

The stock has declined 7% over the last 12 months and is now trading with a price-earnings ratio of 11.58 and a price-book ratio of 6.47.

Simons is the largest guru shareholder of the company with 3.74% of outstanding shares, followed by John Hussman (Trades, Portfolio) with 0.11%.

John Wiley & Sons Inc. (NYSE:JW.A)

The guru boosted the holding 132.93% in the first quarter and then increased it 93.72% in the second quarter.

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The publishing company has a market cap of $3.7 billion. Its revenue of $1.7 billion has grown 0.7% over the last five years.

The stock has climbed 21% over the last 12 months and is now trading with a price-earnings ratio of 19.35 and a price-book ratio of 3.10.

Pioneer Investments (Trades, Portfolio) is the largest guru shareholder of the company with 0.23% of outstanding shares, followed by Simons with 0.21%.

Weis Markets Inc. (WMK)

Greenblatt boosted the position 236.30% in the first quarter and then increased it 70.76% in the second quarter.

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The grocery store operator has a market cap of $1.29 billion. Its revenue of $3.4 billion has grown 5.10% over the last five years.

The stock has risen 8% over the last 12 months and is now trading with a price-earnings ratio of 12.50 and a price-book ratio of 1.27.

Chuck Royce (Trades, Portfolio) is the company's largest guru shareholder with 4.55% of outstanding shares, followed by Simons with 0.74%.

Loews Corp. (NYSE:L)

In the first quarter, Greenblatt increased the holding by 61.45% and by 253.46% in the second quarter.

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The holding company has a market cap of $15.86 billion. Its revenue of $13.7 billion has grown 2.2% over the past five years.

The stock has risen 7% over the last 12 months and is now trading with a price-earnings ratio of 14.36 and a price-book ratio of 0.83.

Diamond Hill Capital (Trades, Portfolio) is the company's largest shareholder among the gurus with 1.82% of outstanding shares, followed by the T Rowe Price Equity Income Fund (Trades, Portfolio) with 1.47%.

ACCO Brands Corp. (ACCO)

The investor boosted the position by 223.38% in the first quarter and then added another 6.76% in the second quarter.

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The manufacturer of office and school products has a market cap of $1.31 billion. Its revenue of $1.9 billion has decreased 1.3% over the last five years.

The stock has risen 15% over the last 12 months and is now trading with a price-earnings ratio of 9.76 and a price-book ratio of 1.74.

Diamond Hill Capital is the largest shareholder of the company among the gurus with 1.82% of outstanding shares, followed by the T Rowe Price Equity Income Fund with 1.47%.

Disclosure: I do not own any stocks mentioned in this article.

This article first appeared on GuruFocus.