1832 Asset Management L.P. Trims Position in Grupo Aeroportuario del Centro Norte S.A.B. de C.V. $OMAB

Key Points

• 1832 Asset Management L.P. has reduced its stake in Grupo Aeroportuario del Centro Norte by 38.0%, now holding approximately 0.31% of the company with a value of $10,302,000 after selling 80,242 shares.
• Multiple large investors have recently adjusted their positions in OMAB, with Tower Research Capital significantly increasing its holdings by 3,581.8% in the fourth quarter.
• Analysts have mixed views on Grupo Aeroportuario del Centro Norte, with Goldman Sachs raising their price target to $106.00 and Zacks Research downgrading to a "hold" rating, reflecting diverse expectations for the stock's performance.

1832 Asset Management L.P. trimmed its holdings in shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Free Report) by 38.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,013 shares of the transportation company's stock after selling 80,242 shares during the quarter. 1832 Asset Management L.P. owned 0.31% of Grupo Aeroportuario del Centro Norte worth $10,302,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of OMAB. Geode Capital Management LLC grew its stake in Grupo Aeroportuario del Centro Norte by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 5,140 shares of the transportation company's stock valued at $353,000 after purchasing an additional 126 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Grupo Aeroportuario del Centro Norte by 14.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 31,517 shares of the transportation company's stock worth $2,163,000 after purchasing an additional 4,048 shares during the period. Invesco Ltd. boosted its holdings in shares of Grupo Aeroportuario del Centro Norte by 7.9% in the 4th quarter. Invesco Ltd. now owns 17,206 shares of the transportation company's stock worth $1,181,000 after buying an additional 1,257 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Grupo Aeroportuario del Centro Norte by 3.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 27,098 shares of the transportation company's stock valued at $1,858,000 after buying an additional 802 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Grupo Aeroportuario del Centro Norte by 3,581.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 405 shares of the transportation company's stock valued at $28,000 after buying an additional 394 shares during the period. 9.53% of the stock is currently owned by institutional investors.

Grupo Aeroportuario del Centro Norte Stock Performance

Shares of OMAB stock traded down $1.24 during trading on Thursday, reaching $103.68. 81,126 shares of the company's stock traded hands, compared to its average volume of 73,522. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. has a 1 year low of $60.39 and a 1 year high of $116.25. The company has a market capitalization of $4.41 billion, a P/E ratio of 19.20, a PEG ratio of 2.51 and a beta of 0.94. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.35. The firm's 50-day moving average is $107.10 and its 200 day moving average is $93.85.

Analyst Ratings Changes

Several analysts have commented on OMAB shares. The Goldman Sachs Group lifted their price objective on shares of Grupo Aeroportuario del Centro Norte from $89.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Zacks Research lowered shares of Grupo Aeroportuario del Centro Norte from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Bank of America upgraded Grupo Aeroportuario del Centro Norte from an "underperform" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating on shares of Grupo Aeroportuario del Centro Norte in a research report on Friday, May 23rd. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $88.38.

Grupo Aeroportuario del Centro Norte Company Profile

Grupo Aeroportuario del Centro Norte, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and maintain airports in Mexico. The company operates 13 international airports in Monterrey, Acapulco, Mazatlán, Zihuatanejo, Ciudad Juárez, Reynosa, Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas cities.