HBK Investments L P Invests $72.75 Million in DPC Holdings PLC $DPC

Key Points

• HBK Investments acquired 1.48 million DPC shares worth approximately $72.75 million, representing about 0.99% of the company and 0.7% of HBK’s portfolio. Several other institutional investors also initiated positions during the second quarter.
• Analyst sentiment is broadly positive, with DPC holding a consensus “Moderate Buy” rating and an average price target of $57.62, well above its reported trading price of $39.52.
• DPC reported quarterly EPS of $0.05, below the $0.08 consensus estimate, on revenue of $268.7 million. Company insiders bought 2.3 million shares worth roughly $75.8 million over the prior three months.

HBK Investments L P purchased a new stake in DPC Holdings PLC (NYSE:DPC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,482,881 shares of the company's stock, valued at approximately $72,750,000. DPC accounts for about 0.7% of HBK Investments L P's holdings, making the stock its 21st biggest holding. HBK Investments L P owned about 0.99% of DPC at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. BlueCrest Capital Management Ltd acquired a new position in DPC during the second quarter worth $1,226,000. Mudrick Capital Management L.P. acquired a new stake in DPC in the second quarter valued at $314,115,000. Readystate Asset Management LP purchased a new stake in shares of DPC during the 2nd quarter worth $245,000. Irenic Capital Management LP purchased a new stake in shares of DPC during the 2nd quarter worth $41,201,000. Finally, Tribune Investment Group LP purchased a new stake in shares of DPC during the 2nd quarter worth $3,105,000.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DPC shares. Royal Bank Of Canada increased their price target on shares of DPC from $53.00 to $62.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of DPC to a "hold" rating in a report on Saturday, July 4th. Jefferies Financial Group began coverage on shares of DPC in a report on Monday, July 20th. They set a "buy" rating and a $56.00 price objective on the stock. Zacks Research upgraded shares of DPC to a "hold" rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley increased their target price on shares of DPC from $47.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, DPC presently has a consensus rating of "Moderate Buy" and an average target price of $57.62.

DPC Stock Performance

DPC stock traded down $0.54 during trading hours on Wednesday, hitting $39.52. The stock had a trading volume of 867,788 shares, compared to its average volume of 1,284,412. DPC Holdings PLC has a 1-year low of $37.65 and a 1-year high of $57.25. The firm has a fifty day simple moving average of $46.58.

DPC (NYSE:DPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The firm had revenue of $268.70 million during the quarter. As a group, sell-side analysts forecast that DPC Holdings PLC will post 0.45 EPS for the current fiscal year.

Insider Activity

In other DPC news, CFO David John Egan bought 275,363 shares of the business's stock in a transaction on Friday, June 26th. The stock was bought at an average price of $33.00 per share, for a total transaction of $9,086,979.00. Following the completion of the transaction, the chief financial officer owned 294,529 shares in the company, valued at approximately $9,719,457. The trade was a 1,436.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael (Mike) Joseph Quinn purchased 435,121 shares of DPC stock in a transaction on Friday, June 26th. The stock was acquired at an average cost of $33.00 per share, for a total transaction of $14,358,993.00. Following the acquisition, the chief executive officer directly owned 435,121 shares of the company's stock, valued at approximately $14,358,993. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 2,297,621 shares of company stock worth $75,821,493 in the last three months.

DPC Profile

DPC Dash Ltd. is a quick-service restaurant company that operates the Domino's Pizza business in China. The company develops, owns and operates Domino's-branded stores, offering pizza, side dishes, desserts and beverages through dine-in, takeout and delivery channels.

Founded in 2010, DPC Dash serves customers across mainland China and has expanded its store network in major urban markets. Its operations include restaurant management, digital ordering and delivery services, supply-chain activities, and local marketing conducted under the Domino's brand.

DPC Dash is the exclusive master franchisee for Domino's Pizza in mainland China, giving it responsibility for the brand's development and operations in that market.

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