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Daniel Lascano’s Lomas Capital Management’s Return, AUM, and Holdings (Part II)

Nina Zdinjak

Read the beginning of this article here.

Among Lomas Capital Management’s fourth quarter top positions were Alphabet Inc Class C (NASDAQ:GOOG), FOX CORP/SH CL A   (NASDAQ:FOXA), and Red Rock Resorts Inc (NASDAQ:RRR). In Alphabet, the fund reported $50.35 million worth a position, on the basis of 48,619 shares outstanding. Over the past 12 months, Alphabet’s shares gained 21.94%, having a closing price on April 24th of $1,256.00. Alphabet has a market cap of $877.18 billion, and it is trading at a price-to-earnings ratio of 28.82. In its last financial report, the company disclosed revenues of $39.28 billion and diluted EPS of $12.77 for Q4 2018, and revenues of $32.32 billion and diluted loss per share of $4.35 for Q4 2017.

The fund held 1.04 million Twenty-First Century Fox’ shares with a value of $49.89 million at the end of December 2018. In the meantime, the company has sold most of its assets to Walt Disney Co for $71 billion. The company that remained as the corporate spin-off, which manages assets that were not counted in the deal with Walt Disney Co, is known under the name Fox Corp. Its market cap is of $23.37 billion and the company is trading at a price-to-earnings ratio of 5.08.

During the fourth quarter of 2018, Lomas Capital Management raised its stake in Red Rock Resorts by 33% to 2.39 million shares, which were valued $48.48 million. Red Rock Resorts is a gaming and management company that runs 21 casino and entertainment properties, among which it operates around 360 table games and 20,000 slot machines. It is based in Las Vegas, Nevada, and previously it was known under the name Station Casinos Corp. It has a market cap of $3.23billion, and it is trading at a price-to-earnings ratio of 15.72. Red Rock Resorts’ stock went down by 20.45% over the last six months, and on April 24th it was trading at $27.92. In its financial report for last quarter of 2018, the company reported net revenues of $431.47 million, diluted EPS of Class A common stock of $0.11 and dividends declared per common share of $0.10, which all compares to net revenues of $400.31 million, diluted EPS of Class A common stock of $0.35 and dividends declared per common share of $0.10 for the last quarter of 2017.

The largest new position the fund attained during the fourth quarter of 2018 was in Foster City, California-based, multinational financial services corporation, Visa Inc (NYSE:V). Lomas Capital Management purchased 248,582 Visa’s shares, establishing in that manner a position that was valued $32.8 million, comprising 4.35% of its 13F portfolio. Visa is trading at a P/E ratio of 34.59, while its market cap value is of $353.33 billion. Since the beginning of the year, the company’ stock gained 21.49%, and on April 24th it had a closing price of $161.49. In its last financial report for the fiscal first quarter of 2019, Visa disclosed net income of $3.0 billion or $1.30 per share. Compared to last year’s EPS there has been a 21% increase. The company also reported net revenues of $5.5 billion, which is 13% higher than in the same period one year earlier.

Among other important new investments was the world’s biggest gold mining company Barrick Gold Corp (NYSE: GOLD). Lomas Capital Management invested around $32.41 million in the company, by purchasing 2.39 million shares. This position amassed 4.3% of its equity portfolio.  Barrick Gold’s shares lost 6.82%, over the last 12 months, and on April 24th it’s closing price was $12.83. The company has a market cap of $22.77 billion. Disclosure: None

This article was originally published at Insider Monkey.