Empirical Finance LLC Sells 42,177 Shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. $OMAB

Key Points

• Empirical Finance LLC reduced its OMAB stake by 25.1% in the second quarter, selling 42,177 shares and retaining 126,166 shares valued at approximately $14.3 million. Institutional investors collectively own 9.53% of the company.
• OMAB shares fell 0.4% to $99.30, near the lower end of their 52-week range. The airport operator reported quarterly EPS of $1.74 on revenue of $255.27 million, with a 33.17% net margin and 49.50% return on equity.
• Analyst sentiment remains cautious but improved, with recent rating upgrades to “Hold” or “Neutral.” The stock has a consensus “Hold” rating and an average price target of $134.00.

Empirical Finance LLC cut its stake in shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Free Report) by 25.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,166 shares of the transportation company's stock after selling 42,177 shares during the period. Empirical Finance LLC owned 0.30% of Grupo Aeroportuario del Centro Norte worth $14,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Grupo Aeroportuario del Centro Norte by 13.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,130 shares of the transportation company's stock worth $123,000 after purchasing an additional 136 shares during the period. Vident Advisory LLC raised its holdings in Grupo Aeroportuario del Centro Norte by 1.6% during the 4th quarter. Vident Advisory LLC now owns 11,809 shares of the transportation company's stock valued at $1,285,000 after buying an additional 188 shares during the period. O Brien Greene & Co. Inc lifted its position in Grupo Aeroportuario del Centro Norte by 3.4% in the fourth quarter. O Brien Greene & Co. Inc now owns 6,147 shares of the transportation company's stock worth $669,000 after buying an additional 200 shares during the last quarter. ProShare Advisors LLC lifted its position in Grupo Aeroportuario del Centro Norte by 5.9% in the fourth quarter. ProShare Advisors LLC now owns 3,838 shares of the transportation company's stock worth $417,000 after buying an additional 215 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Grupo Aeroportuario del Centro Norte by 288.3% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the transportation company's stock worth $39,000 after buying an additional 271 shares during the period. 9.53% of the stock is owned by institutional investors.

Grupo Aeroportuario del Centro Norte Trading Down 0.4%

OMAB stock traded down $0.42 during midday trading on Tuesday, reaching $99.30. The company's stock had a trading volume of 93,791 shares, compared to its average volume of 84,961. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. has a 1 year low of $95.69 and a 1 year high of $134.99. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.30 and a beta of 0.61. The stock has a fifty day simple moving average of $105.76 and a two-hundred day simple moving average of $108.99. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last issued its earnings results on Wednesday, July 1st. The transportation company reported $1.74 earnings per share (EPS) for the quarter. The firm had revenue of $255.27 million during the quarter. Grupo Aeroportuario del Centro Norte had a net margin of 33.17% and a return on equity of 49.50%. On average, equities research analysts predict that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 6.93 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Grupo Aeroportuario del Centro Norte from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. raised shares of Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings raised shares of Grupo Aeroportuario del Centro Norte from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $134.00.

Grupo Aeroportuario del Centro Norte Company Profile

Grupo Aeroportuario del Centro Norte, SAB. de C.V. (OMAB) is a Mexican airport operator that develops, manages and operates airports under long‐term concessions granted by the Federal Government of Mexico. The company's core business covers all aspects of airport operations, including passenger processing, airfield services, security, ground handling, cargo handling and commercial activities such as retail, food and beverage, and parking.

OMA currently holds concession contracts for 13 airports in central and northern Mexico, serving key markets such as Monterrey, Ciudad Juárez, Culiacán, Hermosillo and Torreón.

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