AthenaInvest added a couple of new positions to their SBI International model recently. In the model, AthenaInvest uses their patented investing methodology to invest in 20 international stocks that are held by the top equity managers. One of the new positions they added was Yanzhou Coal Mining Co Ltd (NYSE: YZC). YZC’s stock price has grown since it closed at $19.10 on July 16th, 2010. On October 6th, the stock hit a high for the day of $26.99 but then dipped down to $26.15 as the day’s low on October 7th. Since then, the stock has risen again, closing at $28.16 on October 11th.
The second position AthenaInvest added to their model was New Oriental Education & Technology Group Inc (NYSE: EDU). EDU reached an all-time high when it closed at $113.28 on September 23rd, 2010. But the stock quickly fell, closing at $99.14 the following day—after its preliminary and unaudited first fiscal quarter 2011 financial results were released. These results showed low student enrollment growth, but a 29 percent increase in net revenues. The stock price dropped once more to $93.67 on September 27th, then started to climb. In October, the stock dropped again—this time closing at $89.02 on October 8th.
Manager Walter Lu uses a value investing approach for his Covestor model, Flexible Value. He looks for arbitrage opportunities, liquidations and other special situations. Recently, he added Premier Exhibitions Inc (NASDAQ: PRXI) to the model. PRXI provides touring exhibitions globally. They develop unique traveling exhibitions like Bodies: The Exhibition. With a closing price of $1.83 on October 12th, the company has fallen far from their high of $18.25 on July 23rd, 2007. The company’s sales have been dwindling since then as well, falling from $61.5 million in 2008 to $53.9 million in 2009 and finally to $43.4 million in 2010. Last week, the company announced their 2011 fiscal quarter two financial results and showed an increase in revenue from $13.4 million during the second quarter of 2010 to $13.7 million. They also showed some reduced debt and better management processes allowing them to increase the days of each exhibition.
