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This Michael Burry’s stock is up 40% since he bought it

This Michael Burry's stock is up 40% since he bought it
Elmaz Sabovic

Michael Burry, a renowned trader and investor known for predicting the 2008 financial crisis, is highly regarded for his strategic acquisitions and sales based on comprehensive data analysis. 

Recently, he acquired GEN Restaurant Group (NASDAQ: GENK), a move that has proven to be exceptionally successful and one which was previously described as ‘a hidden gem’ stock.

Burry purchased 154,142 shares of GENK at an undisclosed date in the previous year’s fourth quarter. Since the disclosure of Scion Asset Management’s 13-F form on February 16, GENK stock has surged by 37.05%.

GENK stock surge since acquisition by Burry. Source: Google Finance
GENK stock surge since the reveal of acquisition by Burry. Source: Google Finance

The future outlook is what brought gains to GENK stock and Burry

GEN Restaurant Group experienced a mixed quarter in FQ4, with one notable result counterbalancing the other, driven by underlying causes and prospects. The company reported $45.1 million in net revenue, marking a 10.5% gain. This strength stemmed from accelerated store openings, although it was partially offset by a 1.7% decline in comparable sales.

However, the report’s weakness lies in the margin, with GAAP losses and lower-than-expected adjusted earnings primarily attributed to preopening expenses. 

Although these expenses will continue to impact margins in the near term, two factors mitigate this issue.

Firstly, the expanding store count provides a lever for earnings growth. 

Secondly, the company’s focus on efficiency and new unit operating metrics, which rank among the best in the industry, including notable improvements in restaurant-level margin.

Insider trades work in favor of GENK stock

Following the Q4 release on March 3, insiders at GEN Restaurant Group began heavily purchasing the stock. Both the CEO and a 10% shareholder initiated the trend with their purchases on the release day. Subsequent days saw additional purchases by major shareholders.

Insider purchases of GENK stock. Source: HedgeFollow
Insider purchases of GENK stock. Source: HedgeFollow

With the next earnings report scheduled for mid-May, it appears likely that GENK stock will exceed expectations once again, potentially further enhancing Burry’s profits.

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