2013 has felt a bit slow in the world of initial public offerings as we have not had that many initial public offerings come from major companies with such a strong stock market. That is about to change with the SeaWorld IPO in the coming week. Another figure stands out as well, and that is that we have 9 IPOs that have hit since the start of 2013 which are up by about 25% or much more.
In order to avoid any confusion, we chose to rank these by performance since their IPO pricing and we have added color to show if the gains were available for Joe Public or only for the buyers who were given shares at the IPO.
The ExOne Company (NASDAQ: XONE) is up about 70% from its $18 IPO in February. Shares are around $30.85 today and the lowest point since the IPO was $23.50. This company has ridden a wave as it is in the three-dimensional printing machines and printing products and its market cap is just over $400 million.
Boise Cascade Co. (NYSE: BCC) is up a sharp 50% or so from its $21.00 IPO in early February. The wood products and building materials player is rather well known but its market cap is still shy of $950 million. While pricing at $21, the stocks lowest actual price since the IPO was $25.25 and that still accounts for s gain of about 25%.
Enanta Pharmaceuticals Inc. (NASDAQ: ENTA) priced at $14 in mid-March and the stock is up almost 50% at $20.81, and its lowest after-IPO price was only $14.31 making it a true IPO performer. This one is worth $350 million and its closest drug under development is for the hepatitis C virus.
Xoom Corp. (NASDAQ: XOOM) is in the consumer-to-consumer online money transfers market and is worth close to $670 million. At $21, this is up over 30% from the mid-February pricing of $16.00 per share. Be advised that the after-market buyers have not done as well and many buyers may now be buried as the post IPO range is only $19.18 to $26.00.
Stemline Therapeutics Inc. (NASDAQ: STML) is up over 30% as the $13.10 price compares to the IPO at $10.00 from the end of January. This cancer player is tiny with a $92 million market cap and the post IPO range is $10.33 to $13.95.
Zoetis Inc. (NYSE: ZTS) is the animal health drug and vaccine maker which was spun out by Pfizer Inc. (NYSE: PFE). With a late-January IPO at $26.00, the price of $33.55 generated a screen return of almost 30%. Unfortunately, its post-IPO range is only $30.47 to $35.42 and that skews this return even if it qualifies as a top IPO.
Artisan Partners Asset Management Inc. (NYSE: APAM) is an asset management provider and we would note that shares are down closer to the bottom of the post-IPO range. That again skews the returns even if it made the screen. At $37.75, the stock is up over 25% from the $30.00 IPO price from early in March. Its market cap is almost $2.5 billion.
Model N Inc. (NYSE: MODN) is into revenue management solutions for the life science and technology industries and its market cap is only about $415 million as of now. With shares at about $19.40, this is up 25% from the $15.50 price from mid-March and the post-IPO price range is $17.71 to $20.40.
Aviv REIT Inc. (NYSE: AVIV) is a $1.2 billion REIT out of Chicago which specializes in post-acute and long-term care skilled nursing facilities. The REIT is up just over 25% at $25.05 from its mid-March IPO and the post-IPO range is $22.10 to $25.45. The dividend put an emphasis on this one at about 6% for its yield.
As you can see, the IPO Class of 2013 is off to a good start. We would be keeping a close eye on the pricing and demand for issues such as SeaWorld and others to see if these are or are not trading anywhere close to the IPO prices after they begin trading. IPOs which trade up too much out of the chute are often ignored by much of the investing public.