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 acquired a new stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of MRC Global during the first quarter valued at $44,000. Meeder Asset Management Inc. increased its position in 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 purchasing an additional 1,081 shares during the period. Quantinno Capital Management LP acquired a new stake in MRC Global in the fourth quarter worth about $129,000. GAMMA Investing LLC increased its position in 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 purchasing an additional 13,224 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in MRC Global in the first quarter worth about $165,000. 94.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MRC has been the subject of several analyst reports. Stifel Nicolaus decreased their target price on MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Zacks Research upgraded MRC Global to a "hold" rating in a research report on Friday, August 8th. Wall Street Zen upgraded MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Susquehanna upped their price objective on MRC Global from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.00.

MRC Global Stock Down 1.5%

Shares of MRC Global stock traded down $0.23 on Friday, reaching $15.11. The company's stock had a trading volume of 73,701 shares, compared to its average volume of 842,580. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -62.92 and a beta of 1.65. The firm's fifty day simple moving average is $13.93 and its two-hundred day simple moving average is $12.62. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.59. The company has a quick ratio of 1.00, a current ratio of 1.84 and a debt-to-equity ratio of 0.83.

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

About MRC Global

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.