Novem Group Buys New Position in Grupo Aeroportuario del Centro Norte S.A.B. de C.V. $OMAB

Key Points

• Novem Group initiated a new stake in Grupo Aeroportuario del Centro Norte (OMAB) in Q4, purchasing 10,731 shares worth about $1.17 million, and several other institutions (AQR, Voleon, Millennium, JPMorgan, etc.) also added or increased positions; institutional ownership stands at 9.53%.
• Analyst sentiment is mixed: HSBC upgraded OMAB to a Buy and raised its target to $134, but the consensus is a Hold (2 Buys, 4 Holds, 1 Sell) with an average price target of $120.
• OMAB recently traded near $116.97 (1‑yr range $82.81–$134.99) with a market cap of ~$4.98B and P/E of ~19.9; the company reported quarterly EPS of $1.40, revenue of $228.2M, a 33.5% net margin, and analysts expect ~7.1 EPS for the year.

Novem Group bought a new stake in Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,731 shares of the transportation company's stock, valued at approximately $1,167,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OMAB. AQR Capital Management LLC grew its position in Grupo Aeroportuario del Centro Norte by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 102,050 shares of the transportation company's stock valued at $10,766,000 after buying an additional 39,581 shares in the last quarter. Voleon Capital Management LP bought a new position in Grupo Aeroportuario del Centro Norte in the 3rd quarter valued at about $3,757,000. Militia Capital Partners LP grew its position in Grupo Aeroportuario del Centro Norte by 60.8% in the 2nd quarter. Militia Capital Partners LP now owns 78,252 shares of the transportation company's stock valued at $8,256,000 after buying an additional 29,600 shares in the last quarter. Millennium Management LLC grew its position in Grupo Aeroportuario del Centro Norte by 125.0% in the 3rd quarter. Millennium Management LLC now owns 40,496 shares of the transportation company's stock valued at $4,206,000 after buying an additional 22,497 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Grupo Aeroportuario del Centro Norte by 253.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,973 shares of the transportation company's stock valued at $2,282,000 after buying an additional 15,761 shares in the last quarter. Institutional investors own 9.53% of the company's stock.

Analyst Upgrades and Downgrades

OMAB has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Grupo Aeroportuario del Centro Norte in a research report on Friday, January 9th. HSBC upgraded shares of Grupo Aeroportuario del Centro Norte from a "hold" rating to a "buy" rating and increased their target price for the company from $112.00 to $134.00 in a research report on Thursday, April 16th. Zacks Research lowered shares of Grupo Aeroportuario del Centro Norte from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen lowered shares of Grupo Aeroportuario del Centro Norte from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 14th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $120.00.

Grupo Aeroportuario del Centro Norte Stock Performance

Shares of OMAB opened at $116.97 on Tuesday. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. has a one year low of $82.81 and a one year high of $134.99. The company has a 50-day moving average of $117.36 and a two-hundred day moving average of $111.08. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.44 and a beta of 0.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.32 and a quick ratio of 1.14.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The transportation company reported $1.40 earnings per share (EPS) for the quarter. The business had revenue of $228.23 million during the quarter. Grupo Aeroportuario del Centro Norte had a net margin of 33.46% and a return on equity of 52.24%. On average, equities research analysts expect that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 7.1 earnings per share for the current year.

About Grupo Aeroportuario del Centro Norte

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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