Penn Capital Management Company LLC Invests $505,000 in MRC Global Inc. $MRC

Key Points

• Penn Capital Management Company LLC invested approximately $505,000 in MRC Global Inc. by purchasing 43,980 shares during Q1, representing 0.05% of the company.
• Recent institutional investment activity includes notable increases by other hedge funds, with GAMMA Investing LLC raising its holdings by 1,576.2%.
• MRC Global's stock has been upgraded by several analysts, with a current consensus rating of "Moderate Buy" and a target price of $16.00.

Penn Capital Management Company LLC purchased a new position in MRC Global Inc. (NYSE:MRC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,980 shares of the oil and gas company's stock, valued at approximately $505,000. Penn Capital Management Company LLC owned 0.05% of MRC Global as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of MRC Global in the first quarter worth approximately $44,000. Meeder Asset Management Inc. raised its holdings in shares of MRC Global by 24.7% in the first quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock worth $63,000 after buying an additional 1,081 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of MRC Global in the fourth quarter worth approximately $129,000. GAMMA Investing LLC raised its holdings in shares of MRC Global by 1,576.2% in the first quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company's stock worth $161,000 after buying an additional 13,224 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of MRC Global in the first quarter worth approximately $165,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Zacks Research upgraded MRC Global to a "hold" rating in a report on Friday, August 8th. Stifel Nicolaus reduced their price objective on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Wall Street Zen upgraded MRC Global from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Susquehanna raised their price objective on MRC Global from $14.00 to $15.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, MRC Global presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

MRC Global Trading Up 5.6%

Shares of NYSE:MRC opened at $14.9680 on Friday. MRC Global Inc. has a 12-month low of $9.23 and a 12-month high of $15.59. The business's fifty day simple moving average is $13.74 and its 200-day simple moving average is $12.56. The company has a market capitalization of $1.27 billion, a PE ratio of -62.37 and a beta of 1.65. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.83.

MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%.The business had revenue of $798.00 million for the quarter, compared to the consensus estimate of $784.60 million. During the same period last year, the business posted $0.28 EPS. The business's revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts predict that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

MRC Global Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.

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